Just a pedestarian open-air mall/shopping center. Nothing to get all that excited about really. I find the place a bit incongruous with the nearby area. But see what they have to say for themselves:

“University Village is the only open-air lifestyle shopping center in the pacific northwest and offers a unique formula of national stores and local retailers. University Village is a regional destination for home furnishings, popular fashions, unique gift items, and a distinctive selection of restaurants and eateries.”