ORANGE COUNTY, Fla. — Another effort to swipe the former SunTrust building’s crown as Orlando’s tallest has come to an anticlimactic end.
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Ponte Health pulled the plug on its plans to build a “Vertical Medical City” at 1000 North Orange Avenue near the Ivanhoe District. The property is now for sale.
The proposed three-tower complex – which would’ve been three feet taller than SunTrust – was supposed to break ground last May. It was supposed to center around senior care and would’ve included medical office space and residences.
The current economic environment is difficult for major construction projects. Banks and lenders are unwilling to finance the projects due to the high interest rates. Most projects pitched for downtown Orlando in the past three years have failed to gain traction.
Ponte Health leader Tabitha Ponte blamed financiers for her project’s troubles.
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“Ultimately, our impetus to help our Aging is not phased—this is only a small setback and we will choose a new site and potentially a new city,” she wrote in a text message. “To those who ultimately will benefit most… I am so very sorry it is taking this long for people to care. We have always done our very best, and we will keep at it.”
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