The idea of founding a new university has been floating around the effective altruism community for a while now. In a recent podcast with Tyler Cowen, Will MacAskill mentioned that making this a reality might be one of the things he could see himself working on in the next few years:

"Then a final option that I consider is some new college or university. Really trying to take some of the brightest people from all around the world, especially in countries where very bright, promising, morally motivated people are being missed. You could be extremely intellectually talented in rural India, and maybe you can make your way out, but it’s a challenge, at least.

Then, just trying to give the very best all-round education possible, hiring people who are dedicated as teachers rather than having their attention split between research and teaching, which is the standard university model. Also, using certain techniques that we have discovered that aren’t very widely used within education, to try and accelerate people’s learning as fast as possible. If that worked well in this one instance, then perhaps it could become a much wider idea."

The question says EA university or similar institution because it would also count if it wasn't called "university" but had a similar idea (teaching 16-25 year-olds for multiple years).

I will resolve this question positively if, by 31 December 2027, there will be a new university or similar institution for learning founded by the effective altruism movement. The criterium is that by 31 December 2027, there actually are students being taught, and the project isn't only in the process of planning.