Ponte has submitted an application to the FAA for three towers. One tower is proposed at 1,050 feet, with a second at 700 feet and a third at 495 feet. The full application had actually been submitted in October 2019, and last month’s filing was only to clarify the project location.
The project is expected be similar to one proposed in Orlando, and will include 900 senior living apartments that would cater to different stages of care, along with medical services, a farm to table program, and the use of artificial intelligence.
A Health Hotel and Conference Park called Biscayne Bayview is also planned, with a goal of targeting medical tourism. The hotel component is unique to the Miami project and isn’t planned in Orlando.
A Master Plan approval is already in place after being filed by a previous owner, and it would only have to be amended slightly due to the new medical focus of the development. It wouldn’t need significant modification however, since Vertical Medical City will be similar to what is already approved.
The owners of the property have not accepted the $115m offer or made progress on a timeline towards closing, according to Ponte. The broker representing the seller is Avison Young.
If everything works out, construction is expected to proceed in phases, according to Ponte. There isn’t a firm start time yet, but it could begin in mid to late 2021, with completion by the end of 2025 or early 2026.
The sketch submitted by Ponte to the FAA for Vertical Medical City at 1700 Biscayne: