Hospital CEO shares why Lake Nona foothold is big part of its long-term plan

 

 

Hospital has been trying to grow its Lake Nona presence for quite some time — and now, its top executive revealed a little more about that strategy.

Florida Hospital President CEO Daryl Tol, who also serves as senior executive vice president of parent Adventist Health System, talked to  Journal about plans for 80-plus acres of land it owns in the fast-growing southeast Orlando community.

And moving quickly on these plans likely will be important for the hospital system, since it no longer is in the running to take over the assets of the 175,000-square-foot Sanford Burnham Prebys Medical Discovery Institute in Lake Nona’s 650-acre Medical City.

Rather, the hospital system is more focused on what it will do with the vacant land it owns in the area.

is an important part of our long-term plan,” Tol said. “We do not have a final plan as to what we will build build but we know that community is going to grow significantly, and it’s going to be important in in our network to have our services there.”

Florida Hospital likely will start with physicians and outpatient services, move on to emergency services and eventually hospitals as the population grows, Tol said.

Adventist Health System/Sunbelt began assembling a big chunk of land in Lake Nona with a 67.24-acre site it purchased in 2016, and then followed that up late last year with another roughly 15 acres on Narcoossee Road on the north and south sides of Lake Nona Boulevard — the latter of which it bought from Lake Nona’s developer, Group, as previously reported by OBJ.

The site is approved for up to 145,000 square feet of medical offices, a freestanding emergency department, an outpatient surgery center, and health and wellness services such as chiropractic services, general physical therapy and rehabilitation services, according to Orange County documents.

“We plan many years out into the future and we look across our entire map and we realized that even before areas have grown to a point where we would build certain services we need to make sure we have a good plan for acquiring property,” Tol told OBJ. “We are very systematic in the way purchase land. Sometime we hold it for a number of years as communities grow and sometimes we build something immediately on the land.

“So you’re going to see us continue to acquire properties around Central Florida based on our longterm plan.”

In fact, Florida Hospital’s parent since last December bought more than 120 acres in Central Florida for future development.

But the 17-square-mile Lake Nona community is a priority for many big companies and organizations. Lake Nona notched the No. 15 spot among the nation’s top-selling master-planned communities with 523 home sales in 2017, John Burns Real Estate Consulting reported. Additionally, the community already boasts more than 11,000 residents, 5,000 employees, plenty of new activity in the 300-acre Sports & Performance District, and more than 11,000 students at its schools.

Florida Hospital earlier this year was competing with the University of Central Florida to win the assets of Sanford Burnham, which expects to wind down operations. But the hospital system withdrew its proposal after it was publicly revealed that Florida Hospital had an agreement with Sanford Burnham that was unbeknownst to Orange County officials and other stakeholders.