orange87

Vertical Medical City | 40-Story Medical High Rise [Proposed]

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4 minutes ago, orlandouprise said:

is this for real?

says 70 stories in the article??

I don't know why it says that. I read another article that said 40 stories, and that seems far more realistic. But I'd certainly like to be wrong and for it to actually be 70 stories. lol

Edited by orange87
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I'm thinking maybe they have a presence in Chicago too and possibly the 70 story reference might have been concerning that. I posted a YouTube video in the other thread where this project was being discussed, and it looked like the building featured was up there and was much taller than 40 stories.

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2 hours ago, tennis32801 said:

This project will happen as soon as Orlando World Trade, City Centre, City Central, The Montage, Magic Complex, Elon Musk hyperloop, etc break ground.

You may be right, but keep in mind, there was a lot of doubt about the former Tremont Tower, now known as Church Street Plaza, ever breaking ground too. Never say never.

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Here's the latest official update posted today from Vertical Medical City!

VMC ORL | LATEST PROJECTED MILESTONES :

(1) APPROVAL FOR DEVELOPMENT ; SUMMER - FALL 2018
(2) FOUNDATION / SITE PACKAGE ; SPRING - SUMMER 2019
(3) BREAKING GROUND ; FALL - WINTER 2019
(4) BUILDING PACKAGE ; SPRING - SUMMER 2020
(5) BUILDING CONSTRUCTION ; WINTER - SPRING 2020
(6) CONSTRUCTION COMPLETION ; WINTER - SPRING 2023
(7) OCCUPANCY ; SUMMER - FALL 2024

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Do they own a piece of land? If so, where? All projects are hard to get off the ground, but if they don't even have the land...

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If it ever reaches the construction phase, it will be interesting to see how much that initial design changes.

And how much shorter than initially described it ends up. 

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6 hours ago, Dale said:

I want to believe. But "seeks equity partner" sounds like "I have an idea, but I need some money to get it off the ground."

That’s fair but that’s how everyone of these deals work. That’s neither a positive or negative at this stage.  Even if the richest person alive was behind this, he/she would still be looking for equity investors. 

I do think it is very unlikely they find those necessary equity partners - “grand” projects are terrible investments. 

These days, grand projects are very unlikely worldwide unless they are financed by a sheikh or the government of China. 

Edited by leondecollao
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Location: "Second star to the right, and straight on 'til morning..."

No doubt as reality-based?

(YouTube)

Edited by spenser1058
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The best comments on these boards always come in reaction to these “grand” proposals.  I’m confused now about this project...

ok.  So I read the article.  They are like a Lincoln Properties- hold on- before Lincoln ever built a large project like this.  Which means, they need tenants.  So, with Nemours expanding in Lake Nona soon, Florida Hospital always expanding and ORHS also expanding, who are the gonna get?  Central Fla Regional?  Osceola Regional?  That is a problem.    And there won’t be a 50% equity partner if they can’t secure tenants.  

Maybe they should convert the project into a 7 star hotel instead; that may have more legs...

Edited by jrs2
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3 hours ago, jrs2 said:

The best comments on these boards always come in reaction to these “grand” proposals.  I’m confused now about this project...

ok.  So I read the article.  They are like a Lincoln Properties- hold on- before Lincoln ever built a large project like this.  Which means, they need tenants.  So, with Nemours expanding in Lake Nona soon, Florida Hospital always expanding and ORHS also expanding, who are the gonna get?  Central Fla Regional?  Osceola Regional?  That is a problem.    And there won’t be a 50% equity partner if they can’t secure tenants.  

Maybe they should convert the project into a 7 star hotel instead; that may have more legs...

lol... Central Fla Regional/Osceola Regional are both HCA, which is also the partner for the UCF Teaching Hospital, so it is a very real possibility, they seem to be expanding a lot on the market at this point, building tons of free standing ERs as well. They claim they have a tenant for about a third of the space, but no indication of who that would be at this point. This is even more over the top though, as they're promising to go 100 ft taller then the current tallest building downtown. It's possible... but I'll believe it when I see it.

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FL Hospital/ORMC previously ran HCA and their fellow private firm from Louisville (whose name escapes me at the moment and with whom I think they later merged) out of Orange County without much effort. The UCF tie-in is a different animal, of course. They also delayed Nemours for the better part of a decade but that was a bit of a PR debacle for them since it involved a non-profit children's hospital. 

The Disney Cast Member insurance with FL Hospital/ORHS HMOs which just began, bypassing insurance companies, only tightens the hold the two healthcare organizations have over the local market.

http://www.orlandosentinel.com/health/os-disney-oh-fh-insurance-20180202-story,amp.html

(From the Sentinel)

Maybe change is still possible, but it would take someone with incredibly deep pockets that don't seem to be part of this proposal so far or else they'd likely be playing it up.

Edited by spenser1058

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The great thing about this project if it ever does get built, is that it could lead to more tall buildings being built in downtown Orlando. Developers would simply be able to say "they built a 540 foot tower," so I should be able to build a 480 foot tower (as an example).

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