This project is one that I used for my Spanish I and II students, and that my colleague was also able to use for her Spanish III and IV students.
Our students LOVED this project.
The project encourages students to create their own Spanish island that must incorporate elements of real Spanish-speaking countries that they like. For example, if a student likes the way health care works in Chile, they use that as a model for their own island's health care system while citing a source. The project encourages kids to look at a variety of Spanish-speaking countries while still including their own creative ideas. The project also has a built-in accountability system to encourage participation from all group members. Use of technology is included in that students may use whatever computer and internet resources they have to research information.
The project also caters to a variety of learning styles, with students able to showcase their skills in a variety of ways.
This assignment could easily be adapted for another foreign language as well.