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

[dcluley98]

Well, we all know that OBJ and Sentinel usually leave a lot to be desired in the journalism front, but most of this is just Ponte spinning the propaganda machine on Social Media and with press releases. OBJ is pretty much created for PR type stuff, not real journalism. There have been several articles on this project that were real journalism and reported facts and asked questions. One I linked previously upthread from Bob Moser on GrowthSpotter was very good: https://www.growthspotter.com/news/downtown-orlando-developments/gs-tabitha-ponte-downtown-orlando-medical-tower-20180207-story.html

Bottom line is, we are all still pretty skeptical on the funding, but they have an architecture/engineering team and they are creating designs/plans and going through approvals process such as the FAA approval, pulling permits, and submitting a master plan. That is progress toward a goal and should be reported despite the fact that nobody has reported funding, equity partners, or showed proof of buying/leasing the site. Obviously, they have SOME funding if they are paying Jacobs to create those plans and the rendering firm and the geotech firm and the landscape design firm. Engineers do not often work for free on that level of involvement. 

They keep moving forward and trying to get funding, and that's what they should be doing. I really do want to see this get built, but look at it with a skeptical eye and ask the developer real questions on their funding and other details just to see if it is feasible. I don't think it is bad to get our hopes up. It's not like there is much harm in the developer seeking funding and trying to acquire land and create designs, as long as they are paying for those services.  That's what these projects are, and there are risks involved. This isn't like fraud or anything, it is just hopeful public relations and spin to stay in the news and try to build momentum. 

[Uncommon]

41 minutes ago, dcluley98 said:

Well, we all know that OBJ and Sentinel usually leave a lot to be desired in the journalism front, but most of this is just Ponte spinning the propaganda machine on Social Media and with press releases. OBJ is pretty much created for PR type stuff, not real journalism. There have been several articles on this project that were real journalism and reported facts and asked questions. One I linked previously upthread from Bob Moser on GrowthSpotter was very good: https://www.growthspotter.com/news/downtown-orlando-developments/gs-tabitha-ponte-downtown-orlando-medical-tower-20180207-story.html

Bottom line is, we are all still pretty skeptical on the funding, but they have an architecture/engineering team and they are creating designs/plans and going through approvals process such as the FAA approval, pulling permits, and submitting a master plan. That is progress toward a goal and should be reported despite the fact that nobody has reported funding, equity partners, or showed proof of buying/leasing the site. Obviously, they have SOME funding if they are paying Jacobs to create those plans and the rendering firm and the geotech firm and the landscape design firm. Engineers do not often work for free on that level of involvement. 

They keep moving forward and trying to get funding, and that's what they should be doing. I really do want to see this get built, but look at it with a skeptical eye and ask the developer real questions on their funding and other details just to see if it is feasible. I don't think it is bad to get our hopes up. It's not like there is much harm in the developer seeking funding and trying to acquire land and create designs, as long as they are paying for those services.  That's what these projects are, and there are risks involved. This isn't like fraud or anything, it is just hopeful public relations and spin to stay in the news and try to build momentum. 

Could not have said it better myself. 

Cheers.

[AmIReal]

1 hour ago, spenser1058 said:

Again, see the Tradition Towers article I posted in the Coffee House. According to it, there should be twin towers across from the library today.

Instead, all you had to do was look at the previous track record to know Broad Street Partners had no experience in Class A towers. Some basic investigative work would have led one to conclude all was not well with Steve Walsh.

None of that happened and people lost money and buildings are hat could have been built instead did not because resources were wasted on a pipe dream.

That’s called journalism. Whether it’s done on TV or in print or online, it makes a difference. 

The same sort of thing happened with The Orlando World Trade Center and the fellow behind Mingus and a bogusly acquired chain of hotels (including at UCF and what’s now Creative Village).

All along the way, cheerleaders here and other places online we’re cheering them on like everything was legit. It wasn’t.

Then there’s the 7-Star resort which led to a bankruptcy. No last minute fleeing the country or criminal pasts here, just people losing money unnecessarily because not enough questions were asked.

All of that is true, but not related to Ponte. If people lost money on THOSE investments then THEY did not do THEIR  job, don't blame it on Ponte or the press. If your complaint is at local press you should direct your ire to them. Very few savvy investors rely on local press to make decisions.

I feel like I have stepped into a conversation mid stream... I've only posted here for less than a year, but have lurked for over a decade. Did I miss the part where Ms. Ponte was discussed and was discovered to be a fraud? Y'all seem to be clued into an inside joke.

Here's what I know,  please fill in the rest. Ms. Ponte seems to be an overt marketer of herself and her product- often touting things that are not yet fruited. This qualifies her to be Kim Kardashian/ Gwyneth Paltrow or President of the country. However, "voir dire" her on the stand and she will pass qualifications to be an expert in what she does which means she knows more about this subject than I ( and many of us) do.

She has already made an investment (of somebody's money) in our local community by hiring someone to do phase 1 and 2 environmental studies as well as architects and a very bad web designer, seeking and getting height variation and paid for some fencing. cha-ching

She appears to have put $5million into 12700 S. Orange (pending close) to develop health care properties. cha-ching (if it closes)

I could care less if she ever steps foot in Orlando, or the entire state for that matter, if she builds what she has proposed. I love local businesses- have not been to a chain restaurant in years- but large scale developments, particularly in a hot development market- typically come from outside.

Like everyone here, I doubt it happens, but I see no reason to not play along. If she comes to me for money I may change my tune.

btw,  local OBJ has always been a press release entity- nothing new here. But that's not just this market, it is in all their markets- that is how their business model works. I dealt with them throughout the US over the years and they really just want content and advertising- no regard to quality. Orl Sentinel... well, that's just a sad story. They've lost their way despite still having a few good folks hanging on. TBT (St Pete Times for old-timers) is light years ahead of our local rag. I hope someone challenges me on this- I would love to hear someone say they think the Sentinel is doing a good job- you can't point to Scott Maxwell or delivery service in your argument.

 

[dcluley98]

Having grown up in the Tampa Bay Area, I am on record of saying how dismal our local news is compared to the journalism of the Tampa Bay Times (former St. Petersburg Times) I grew up on, and the broadcast news here is like a reality TV joke. I miss my days lying on the living room floor on Sunday and reading the fat paper of St. Pete Times and learning about what is going on.  It's too bad that the business model has changed so much that journalism like that which was done in the heyday of print seems to be fading in general. 

Edited May 3, 2019 by dcluley98

[JFW657]

I think this topic has gotten way more serious than is necessary.

Will it get built? Will it not get built?

Nobody here knows.

But the fun is in the speculation.

[HankStrong]

Face it, folks!

9 hours ago, AmIReal said:

I could care less if she ever steps foot in Orlando

Then you should.

[aent]

9 hours ago, AmIReal said:

She appears to have put $5million into 12700 S. Orange (pending close) to develop health care properties. cha-ching (if it closes)

 

the last article  said it was now a land lease so no money  there lol

[dcluley98]

Vertical Medical City submitted plans to the ARB for Pre-Screen Review. Should see something on the ARB agenda and a report for this in upcoming meetings. 

https://permitlookup.cityoforlando.net/WebPermits/PlanReview

 

Permit Number: ARB2019-10016

Project: Vertical Medical City‐Orlando

Address: 1000 N ORANGE AVE Orlando FL

Description: New Construction ‐ Ponte Health Properties, LLC is proposing a mixed‐use high‐rise development on two adjacent parcels located at 1000 North Orange Avenue and 103 Marks Street in the North Quarter District of Downtown Orlando. The proposed development will include a spectrum of residential assisted living for senior citizens, together with advanced support services, Class A medical office spaces, healthcare research and urban agriculture. Together all of these elements forming an optimal high‐touch and high‐tech environment for the promotion of healthy living and aging‐in‐place.

Application Status: Open

 

[AmIReal]

As Hank is prone to saying... "its happening"

"Orlando’s Appearance Review Board gave high marks Thursday to the proposed $1.1 billion mixed-use tower that could anchor the city’s downtown North Quarter District."

The project is scheduled to go to the city’s Municipal Planning Board in June.

https://www.growthspotter.com/news/downtown-orlando-developments/gs-news-vertical-medical-city-arb-20190516-7glx5cjwpfhwxlfy7tl6pk3gta-story.html

 

[dcluley98]

I knew the ARB was reviewing it, but their website has not been updated and I think they are going to a new website format. I agree with the board that as designed, it looks very good and could be a great addition to the north end of downtown coming in on I-4. Ever since Jacobs got on board and started guiding this, it has seemed way more legit in its incremental progress, to me. 

We shall see if they get funding. 

Edited May 17, 2019 by dcluley98

[HankStrong]

10 hours ago, AmIReal said:

As Hank is prone to saying... "its happening"

I definitely see the humor in this project, but ultimately truly believe it has a much better chance of actually happening than people think.

It's a 7-11 level of joke with me, but there is a basis of belief just the same.

[Uncommon]

I still have doubts and reservations about this project’s feasibility but I really really really wanna see this built, if for no other reason than to see the reactions of UP’s incessant sarcastic naysayers. If it stops the constant, unfunny jokes about tweets and funding and Ponte herself, it’ll have been a net positive in itself.

The project admittedly doesn’t do that much for me personally, considering it’s not even downtown and doesn’t fit in great with the surrounding neighborhood (not to mention, unlike most everyone else, I don’t love the design), but the collective crow dinner and humble pie dessert that would be served among this forum is enough for me to keep VMC in my prayers at night.

[jrs2]

1 hour ago, Uncommon said:

I still have doubts and reservations about this project’s feasibility but I really really really wanna see this built, if for no other reason than to see the reactions of UP’s incessant sarcastic naysayers. If it stops the constant, unfunny jokes about tweets and funding and Ponte herself, it’ll have been a net positive in itself.

The project admittedly doesn’t do that much for me personally, considering it’s not even downtown and doesn’t fit in great with the surrounding neighborhood (not to mention, unlike most everyone else, I don’t love the design), but the collective crow dinner and humble pie dessert that would be served among this forum is enough for me to keep VMC in my prayers at night.

Bravo!  Well said.

However, what is really ironic about your post is that the forumer "I Am Reality" was getting on everyone's case last year because they were lauding all of these other projects that didn't translate into high paying jobs for Orlando.  And now, some of those same people are dogging a project as a way to bring peoples' expectations back down to earth about it's viability, that looks like it was proposed by a group way in over their heads.  

It's all in good fun, but it's not meant to be funny.  It's a serious point to be considered:  if the use is odd or not what's hot right now, then why would a bank risk loaning the money?  Didn't we just read an update to Radisson Blu on that thread regarding the same exact issue which caused them to convert that project from hotel to apartments?  Yet, Ponte is still tweeting like this thing is happening, or she is totally clueless about the process. It's probably just marketing to lure investors.  But it's laughable, and it comes out in the comments that you've read.

You don't see this kind of thing on all of these other projects, do you? (Um, other projects sans The Magic Entertainment Complex, that is...)

[codypet]

27 minutes ago, jrs2 said:

Bravo!  Well said.

However, what is really ironic about your post is that the forumer "I Am Reality" was getting on everyone's case last year because they were lauding all of these other projects that didn't translate into high paying jobs for Orlando.  And now, some of those same people are dogging a project as a way to bring peoples' expectations back down to earth about it's viability, that looks like it was proposed by a group way in over their heads.  

It's all in good fun, but it's not meant to be funny.  It's a serious point to be considered:  if the use is odd or not what's hot right now, then why would a bank risk loaning the money?  Didn't we just read an update to Radisson Blu on that thread regarding the same exact issue which caused them to convert that project from hotel to apartments?  Yet, Ponte is still tweeting like this thing is happening, or she is totally clueless about the process. It's probably just marketing to lure investors.  But it's laughable, and it comes out in the comments that you've read.

You don't see this kind of thing on all of these other projects, do you? (Um, other projects sans The Magic Entertainment Complex, that is...)

The two rail projects are what come to mind other than that.  Maglev and BL.

[dcluley98]

The 7-star hotel was even more absurd than any of these projects you mention. 

I still think that VMC is viable. There are other ways of financing these types of things than just the developer trying to secure a construction loan. They are likely trying to get equity partners in a big money healthcare system or a REIT for SN/ALF/SH/MOB. I doubt the route they are going is Ponte Health trying to secure a loan for this by themselves, mostly because banks at this juncture of the market cycle would not likely agree to the risk. The other option of equity partner buying in to own most of it and operate it after it is built is much more feasible and likely. 

[jrs2]

On 5/17/2019 at 12:36 PM, codypet said:

The two rail projects are what come to mind other than that.  Maglev and BL.

Yeah, but not from me, for instance.  I really, really wanted Maglev to come through for the OCCC.  And I'm fine with BL.  But i do not like the Magic organization so much...

Great segway.  If apartments are the trend, and Radisson Blu became apartments, then why expect the MEC hotel component to ever marerialize?  Anyway, for another thread...

On 5/17/2019 at 1:40 PM, dcluley98 said:

The 7-star hotel was even more absurd than any of these projects you mention. 

I still think that VMC is viable. There are other ways of financing these types of things than just the developer trying to secure a construction loan. They are likely trying to get equity partners in a big money healthcare system or a REIT for SN/ALF/SH/MOB. I doubt the route they are going is Ponte Health trying to secure a loan for this by themselves, mostly because banks at this juncture of the market cycle would not likely agree to the risk. The other option of equity partner buying in to own most of it and operate it after it is built is much more feasible and likely. 

You know more about this dynamic than I...so I defer...

[dcluley98]

I know nothing. 

[jrs2]

3 hours ago, dcluley98 said:

I know nothing. 

...the ultimate wisdom is knowing that you ... know nothing (Ted Theodore Logan quoting Socrates)

[dcluley98]

https://www.youtube.com/watch?v=pele5vptVgc

[spenser1058]

Our good friend Reality over at SSC Orlando posts an enlightening interview with Ms. Ponte about her goals for VMC.

It seems to me they’re being better accomplished by Orlando Lutheran Towers and Westminster Towers downtown and at Westminster on Lakemont Ave. in WP but at least we now get where she’s coming from.

A great find by Reality!

[dcluley98]

Linky Linky: https://www.nreionline.com/seniors-housing/first-vertical-medical-cities-seniors-are-set-rise-orlando-and-chicago-what-will

[Xander]

24 minutes ago, dcluley98 said:

Linky Linky: https://www.nreionline.com/seniors-housing/first-vertical-medical-cities-seniors-are-set-rise-orlando-and-chicago-what-will

This article reads that construction has started. 

 

[Uncommon]

1 hour ago, spenser1058 said:

Our good friend Reality over at SSC Orlando posts an enlightening interview with Ms. Ponte about her goals for VMC.

It seems to me they’re being better accomplished by Orlando Lutheran Towers and Westminster Towers downtown and at Westminster on Lakemont Ave. in WP but at least we now get where she’s coming from.

A great find by Reality!

10 minutes ago, Xander said:

This article reads that construction has started. 

 

Doubt it. With Ponte’s post history, you KNOW she would’ve tweeted out at least 200 messages leading up to the first shovel in ground.

[AmIReal]

4 hours ago, spenser1058 said:

an enlightening interview with Ms. Ponte about her goals for VMC

I will give her the benefit of the doubt that this was intentionally dumbed down for the press, but as a 30 year veteran of investing- much of it in healthcare ( a lot in long term care), having consulted with hundreds of such organizations and having owned a few, I would say (in this interview) she seems woefully unprepared and out of her league.

[jrs2]

19 hours ago, dcluley98 said:

Linky Linky: https://www.nreionline.com/seniors-housing/first-vertical-medical-cities-seniors-are-set-rise-orlando-and-chicago-what-will

I wonder if they're gonna call the tower(s) The Villages Skyrises...

15 hours ago, AmIReal said:

I will give her the benefit of the doubt that this was intentionally dumbed down for the press, but as a 30 year veteran of investing- much of it in healthcare ( a lot in long term care), having consulted with hundreds of such organizations and having owned a few, I would say (in this interview) she seems woefully unprepared and out of her league.

maybe Ponte would benefit from being your consulting client...