The nonprofit healthcare system and Encore Capital Management, master developer of Reunion, jointly announced Orlando Health's purchase contract on Monday for 25 acres the town center fronting on C.R. 532, also known as Osceola-Polk Line Road.
Orlando Health spokeswoman Kena Lewis said the company has not determined whether to apply for a full-service hospital on the site, another free-standing Emergency Center or some other healthcare-related use.
"We're in the healthcare business, so whatever service we do will be healthcare related," Lewis said.
Orlando Health has already invested heavily in the fast-growing Four Corners market, building a $13 million free-standing Emergency Room and Medical Pavilion on U.S. 27 in Cagan Crossings.
"It's a fast-growing area," Lewis said. "We're getting ready to open our new South Lake ER in Four Corners. Actually it opens July 31. It doesn't appear to be easing up, so we feel there's a market in the community for more healthcare services."
The property is part of a larger 109-acre mixed use development that will feature three upscale dining locations, one multi-tenant retail building and 300 home sites.
"We are excited to be partnering with Orlando Health to bring high-paying jobs and quality healthcare to this thriving area," said Art Falcone, Encore co-founder and managing principal. "With the mix of vacation rentals, homes, specialty retail and dining, Reunion is poised to bring unprecedented economic growth to Osceola County."
Orlando Health plans to close on the purchase of the property by early 2019 as master development and infrastructure activities proceed, beginning later this fall.
Lewis said Encore officials would be seeking approvals from Reunion's Community Development District next month before Orlando Health files for any permits with Osceola County.
The Agency for Health Care Administration issues Certificates of Need (CON) for new hospital beds, skilled nursing homes and other types of medical facilities. AHCA Spokeswoman Shelisha Coleman told GrowthSpotter the agency has not received an application this year from Orlando Health.
The next application cycle begins July 20 when AHCA will publish its needs assessment, i.e. number of new hospital beds, for the state. Healthcare companies must submit a letter of intent by Aug. 6 to apply for a CON.
Florida Hospital Celebration Health, which is adding a 156-bed patient tower, is the closest hospital to Reunion. The site is 10 miles from both Heart of Florida Regional Medical Center on U.S. 27 in Polk County and from Orlando Health's new Cagan Crossings complex.