FORWARD Florida 2014 - ED #6 by Forward Florida

REGIONAL WATER INITIATIVE

ECONOMIC DEVELOPMENT IN THE SUPER REGION

CENTRAL FLORIDA LEADS THE WAY

TOURISM

DIAMONDS, DISNEY & DOLLARS

LAND DEVELOPMENT ISSUE

DEVELOPMENT LAND USE CORRIDORS OF GROWTH TRANSPORTATION FINANCING

Florida Institute of Technology, The STEM UniversityTM

HERE FOR EVERY LAUNCH. AND FOR WHAT COMES NEXT.

Florida Institute of Technology was founded in 1958, the same year as NASA, and has been intrinsically connected to the U.S. space program ever since. We share a home on Floridaâ&#x20AC;&#x2122;s Space Coast with Kennedy Space Center. Five space shuttle astronauts have earned Florida Tech degrees.

MK-919-1214

And like NASA, Florida Tech has a vision for the future of spaceflight, a passion for innovation and a commitment to advancement in STEM education.

Florida Institute of Technology is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award associate, baccalaureate, masterâ&#x20AC;&#x2122;s, education specialist and doctoral degrees. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097 or call 404-679-4500 for questions about the accreditation of Florida Institute of Technology. Florida Institute of Technology does not discriminate on the basis of race, gender, color, religion, creed, national origin, ancestry, marital status, age, disability, sexual orientation, protected veterans status or any other discrimination prohibited by law in the admission of students, administration of its educational policies, scholarship and loan programs, employment policies, and athletic or other university sponsored programs or activities.

Learn more at fit.edu

Providing the blueprint for success in real estate. It takes a banker with a curious mind to see your vision. And a bank that has the knowledge, skills, and resources to help you build it into reality. That’s what you get with the Fifth Third Commercial Real Estate team— a group of financial specialists dedicated solely to serving the needs of commercial real estate developers. CORTEZ COMMONS, LLC – MICHAEL COLLARD PROPERTIES

FORTUNE HOTELS – TRADEWINDS ISLAND GRAND RESORT AND GUY HARVEY OUTPOST

$15,775,000

$60,000,000

Construction Loan for 70,000-square-foot Retail Center

Term Loan for 796 Room Beachfront Resort Hotels

Spring Hill, Florida

St. Pete Beach, Florida

PANTHER ORLANDO/COVE, LLC – INTEGRA LAND COMPANY

GRANDEVILLE AT TOWN CENTER, LLLP – LECESSE DEVELOPMENT

$32,900,000

$25,540,000

Multi-family Construction Loan for 338 units

Multi-family Construction Loan for 244 units

Orlando, Florida

Winter Springs, Florida

Curious? For more information, visit 53.com or contact Tim Koletic at 813-306-2462 or Bill Lee at 407-999-3014. Fifth Third and Fifth Third Bank are registered service marks of Fifth Third Bancorp, Member FDIC. Lending subject to credit review and approval. Equal Housing Lender.

contents

18 DEPARTMENTS

SPECIAL FEATURES: LAND DEVELOPMENT

I.C.Y.M.I.

GOLD KEY

TRANSPORTATION CIRCA 2060

ETC . . .

BY THE NUMBERS

VILLAGE PEOPLE

COUNTY REPORT

CORRIDORS OF GROWTH

PERSPECTIVES

FINANCING FLORIDA

PARTING SHOT

in case you missed it

Flying High It’s up, up and away at Tampa International and Orlando International airports. Each is in varying degrees of major physical change. In Tampa, the master-plan expansion project broke ground. It includes expanding the main terminal, moving rental car operations outside of the vicinity of the terminal and creating a new 1.4-mile people mover to connect the new facilities. The $943 million project is scheduled for completion in 2017. Tampa International CEO Joe Lopano called the expansion historic. “We’re about to transform an airport that has helped transform our community,” he said. “We are so lucky to be right here, right now.” Meanwhile, the Greater Orlando Aviation Authority’s $1.1 billion master plan, completed in November, sets a five-year capital plan into motion, including extending the capacity of the existing North Terminal to accommodate as many as 45 million annual passengers. Initial work involves extending the airport’s automated people mover to the south, and construction on a new garage/ground transportation center and intermodal transportation facility that will accommodate passenger trains. Big doings for two airports that continue to rise.

I-Drive Renaissance The views and experiences along Orlando’s much-traveled International Drive are about to change — all in a quest to alter perceptions. November brought the announcement that the StarFlyer swing attraction is on its way. The world’s tallest swing ride, measuring 420 feet, will land at the Vue at 360, a mega redevelopment of I-Drive frontage. The tower ride will reach speeds of 40 mph and is one of more than 35 worldwide (but the tallest). StarFlyer joins three other The world’s tallest swing ride is on the way to Orlando’s new attractions at the same site: International Drive, StarFlyer. the 400-foot Orlando Eye observation wheel, Madame Tussauds wax museum and Sea Life Orlando aquarium. All are set to open by 2016. Nearby, the Skyplex indoor entertainment complex will feature the 570-foot Skyscraper, the world’s tallest roller coaster, in addition to restaurants like Mango’s Tropical Cafe Orlando, a local version of the staple of Miami’s South Beach scene. Skyplex is scheduled to debut in 2017. As a result, International Drive, a novelty when it was introduced in the 1970s, will have a new face within two years. Those aren’t the only evolutions along the roughly 11-mile strip. Anchoring the opposite end is a 1.1 million-square-foot shopping attraction and artisan marketplace makeover called The Village at Artegon Marketplace. Touted as Florida’s largest daily indoor artisan marketplace, it houses 165 artisanal shops and stores where local craftspeople sell and demonstrate their products and services. An art form itself, I-Drive is changing shape. And image.

Sold on Housing These words no doubt brought smiles to both Realtors and homebuilders: “Florida’s housing market continues to show growth and stability over the past three months, with median prices rising and fewer distressed property sales.” The comment came from 2014 Florida Realtors President Sherri Meadows, following a review of third-quarter numbers and a look ahead. “More Florida residents are getting back to work as new jobs are created and our population continues to increase, which boost the state’s economy and provide a strong foundation for the housing sector,” she continued. Indeed, while final fourth-quarter 2014 tallies won’t arrive for several weeks, Q3 numbers were strong. And there was the promise of even better. According to the Florida Realtors trade association, Florida’s housing market reported higher median prices and gains in inventory during the quarter. The statewide median sales price ($177,000) for single-family existing homes increased 4 percent from the same time a year ago. Closings of single-family homes statewide increased 7.6 percent. John Tuccillo, chief economist for the Florida Realtors, believed the movement bodes well. “The third quarter numbers actually confirm what we have seen in the monthly data,” he said. “The housing market has settled into a stable pattern of activity that is reminiscent of the market before the craziness of the last few years. “The good news is that this type of progress in the real estate market is likely to continue. We should see continued growth ... .” Music to many ears.

W FORWARDFLORIDA.COM

etc. … | news, notes and commentary ○

ORLANDO NO. 1 FOR JOB GROWTH

○

BUSINESS

In the most recent ranking of U.S. cities for job growth by FORBES magazine, eight of the top 10 are located in the West. But the leader is smack in the middle of Florida: Orlando. That’s according to data from the U.S. Bureau of Labor Statistics, which measured cities and metro areas of at least one million workers. Orlando registered annual job growth of 3.7 percent to date in 2014, more than double the national average. Florida placed fifth for statewide job growth at 2.9 percent.

DECEMBER 2014 • FORWARDFLORIDA.COM

For an unprecedented third time, ORLANDO, INC. was reaccredited by the U.S. CHAMBER OF COMMERCE with five stars. Of the 7,077 chambers of commerce nationwide, only 213 are designated as accredited, representing the top 3 percent of chambers in the country. Orlando, Inc., is one of just 89 chambers that have been awarded five stars — the highest level of accreditation in the program’s three-tier system, meaning it is in the top 1 percent of all chambers nationwide. Eight of those are from Florida, including chambers of commerce in Gainesville, Brandon, Lakeland, Manatee, Melbourne and Ocala/Marion County.

Just how big an economic impact will the September release of DOLPHIN TALE 2 make in Clearwater, where the movie was filmed? Following the 2011 release of Dolphin Tale, the area realized a $580 million economic impact in 2013, according to local officials. And, as a result of the first movie, attendance at the CLEARWATER MARINE AQUARIUM quadrupled to about 750,000 annual visitors last year, with 300,000 of those visitors traveling from out of state. If those tallies hold up for the sequel, quite an ROI can be expected. The state contributed $5 million to the movie’s production company (Alcon Entertainment) as an incentive to make the film, while $4 million came from the Florida Department of Economic Opportunity and $1 million from the Florida Department of State.

etc. … | news, notes and commentary ○

SEMINOLE SCHOOLS EARN DISTINCTION

○

CULTURE/ARTS REAL ESTATE

The ST. PETERSBURG ARTS ALLIANCE needs you — well, specifically the input of local artists and creative businesses on an economic impact survey designed to demonstrate the value of nonprofit arts organizations to the city. The most recent survey, completed four years ago, showed arts were the fifth-largest economic engine in Pinellas County. Officials expect the impact to be even greater this time.

During November, the BLUE OCEAN FILM FESTIVAL & CONSERVATION SUMMIT brought in 100 films and 120 speakers, which attracted thousands of visitors (read economic impact) to the city. As part of joint promotions with several groups such as VISIT ST. PETE/ CLEARWATER, the city kicked in $25,000. Smart move. For example, more than 1,000 tickets were sold for films at Muvico Sundial theaters, while some 150 rooms were booked nightly at the HILTON ST. PETERSBURG BAYFRONT. (Page 52).

EDUCATION SEMINOLE COUNTY PUBLIC SCHOOLS is forging its own path. Or rather, ePATHWAYS. In the November issue of District Administration Magazine, SCPS was named a 2014 DISTRICT OF DISTINCTION honoree and recognized for its ePathways initiative, which provides innovative and flexible education options. ePathways finds ways to accommodate student needs and interests year round and embraces learning as an ongoing process that schools can facilitate beyond a regular school day or year. SCPS was one of 49 school districts honored.

Rendering of $300 million Westin Sarasota and VUE Sarasota Bay.

As testaments to the desirability of multifamily housing in Orlando, consider this tally: A 1,024-unit multifamily portfolio in Orlando was acquired by ATLAS RESIDENTIAL for $150 million — representing the largest apartment complex sale in Metro Orlando this year. Also, an apartment complex in downtown Orlando, CRESCENT CENTRAL STATION, was part of a nine-complex sale in multiple states valued at nearly $700 million. In Tampa, here’s another sign: Developers are turning an old warehouse into 46 apartments — the WAREHOUSE LOFTS — at a cost of roughly $6 million. Construction work begins January.

A 38-story office tower consisting of 749,035 square feet of Class A office space sold for $128.1 million — a price of $171 per square foot. Those are the numbers behind the sale of TAMPA CITY CENTER, one of the largest commer-

In recent years, Sarasota has sought to promote itself as a hub of upscale cultural activity, led by marketing organization VISIT SARASOTA COUNTY. Two new additions certainly won’t hurt in those efforts. Ground has broken on a $300 million luxury hotel and condominium project, the WESTIN SARASOTA and VUE SARASOTA BAY. The Westin, to open in July 2016, will have 255 rooms in 18 stories plus 14,000 square feet of meeting space. The VUE, to open a few months later, will contain 141 units priced up to $2 million.

cial real estate transactions in Tampa Bay history. The building was erected in 1981 and became the city’s tallest building in 1986. The structure carries LEADERSHIP IN ENERGY & ENVIRONMENTAL DESIGN GOLD CERTIFICATION. And quite apparently, it contains a great deal of value.

The FOUR CORNERS area, located near U.S. Highway 192 and U.S. Highway 27 roughly on the Osceola/Polk county line and west of the Walt Disney World Resort, continues to build a name for itself. Early next year, PULTE HOMES — one of the region’s top-selling production builders — will begin construction on a new 600-lot vacation home community, WINDSOR AT WESTSIDE. Plans call for single-family homes up to nine bedrooms and townhomes of four and five bedrooms. The construction activity is cited as another benefit of Central Florida’s $50 billion tourism industry.

W FORWARDFLORIDA.COM

etc. … | news, notes and commentary ○

MACHEN’S UF LEGACY GROWS

○

EDUCATION

James W. “Bill” Heavener has put his stamp on the UF campus again. The 1970 UF alumnus and CEO of the Heavener Co. and Full Sail University, recently dedicated HEAVENER HALL, the new business undergraduate student building. Heavener made an undisclosed donation toward construction — the lead gift in a $35 million investment in undergraduate business education that also includes establishing an endowment for professional development, leadership and business ethics. The $23 million, 57,000-square-foot brick building will house the undergraduate program of the Warrington College of Business Administration under one roof for the first time. It is the first new classroom building since the 2010 construction of Hough Hall, home to the college’s graduate program.

DECEMBER 2014 • FORWARDFLORIDA.COM

Call it leaving one more legacy. UNIVERSITY OF FLORIDA PRESIDENT BERNIE MACHEN’S substantial impact has been felt on numerous fronts during a tenure that expires at yearend. And while this effort has largely gone unpublicized, the numbers are difficult to ignore. Since inception eight years ago, the MACHEN FLORIDA OPPORTUNITY SCHOLARS PROGRAM BERNIE MACHEN has enabled 1,596 Opportunity Scholars to graduate from UF. Their average family income: $18,292. The program supports low-income students who are first in their families to attend college. Now, UF has launched an initiative to raise $100 million for the program, which has given more than 3,200 Florida students from low-income families the chance to go to college. Kudos.

etc. … | news, notes and commentary ○

M o M A N U FA C T U R I N G I N A L A C H U A

○

ENTREPRENEURSHIP UF ranks among the nation’s leaders at transferring world-class research to partners who turn these discoveries into commercial products. Invitations have already gone out for UF’s 2015 startup showcase, A CELEBRATION OF INNOVATION, on March 10. The event offers a chance to see early-stage startup companies and myriad opportunities in cutting-edge technologies. More than $700 million in research is conducted annually at UF.

HEALTH CARE To bring the state’s health-care policies into the 21st century, Florida lawmakers must act quickly to utilize telehealth to connect patients with higher quality, more timely care. The most recent Florida TaxWatch report, TIME FOR TELEHEALTH, urges Florida legislators during their 2015 session to pursue incremental, rather than comprehensive, adoption of telehealth policies. While Florida made “great strides last year in pursuing telehealth expansion,” attempting to push through comprehensive reform in a 60-day session could delay desperately needed care, according to Tamara Y. Demko, director of the Florida TaxWatch Center for Health & Aging.

Another example that freestanding ERs continue to gain popularity: An $8 million emergency department has begun construction in Clearwater for LARGO MEDICAL CENTER. Freestanding emergency departments are less expensive to build and maintain than a hospital ER. The Clearwater facility is expected to serve more than 18,000 patients per year.

A $25 million project eight years in the making has come to fruition at the UF HEALTH CANCER CENTER at ORLANDO HEALTH. That’s impressive but not nearly

Florida Hospital President/CEO Lars Houmann, with Orange County Mayor Teresa Jacobs on his left, commits $6 million to fight chronic homelessness.

as much as the sight of the 58-ton proton accelerator lifted by crane and placed into the building. The device delivers radiation to cancerous tumors using protons rather than the x-rays used in traditional radiation treatments. It’s widely considered a major advance for radiation therapy. Patients have traveled from overseas to Florida for this treatment, another boon for the state’s emerging medical tourism initiatives.

MANUFACTURING HERNON MANUFACTURING, a global manufacturer of adhesive sealants and dispensing equipment, is expanding its local operations in Sanford, adding 20 jobs over the next two years to its current total of 40 while also investing an estimated $2 million into the region. The City of Sanford, Seminole County,

FLORIDA HOSPITAL announced the largest one-time private donation to aid chronic homelessness in Central Florida history — $6 million across three years — to complement a major commitment by the City of Orlando to house 300 of downtown’s chronically homeless individuals in three years. The city has earmarked $4 million over three years to support the “HOUSING FIRST” model, a proven approach that provides housing with wraparound supportive services to the chronic homeless. The financial commitments were the kick-off investments of the “IMPACT HOMELESS FUND,” a collaborative fund at the Central Florida Foundation — a new public and private investment-solutions vehicle to help those facing homelessness in Orange, Osceola and Seminole counties.

CareerSource Florida, Seminole State College and the Metro Orlando Economic Development Commission played roles in the expansion.

COQUÍ RADIOPHARMACEUTICALS CORP., a medical isotope company working to become the first U.S. commercial producer of Molybdenum-99 (Mo-99), has formally signed a contract with INVAP, an Argentine nuclear engineering firm, to design its Medical Isotope Production Facility in Alachua. Mo-99 is the parent isotope of Technetium-99, which is used in 80 percent of nuclear medicine procedures worldwide. In 2012, Congress passed legislation making it a national priority to produce Mo-99, an isotope necessary to detect a wide range of diseases, including cardiovascular disease and cancer.

W FORWARDFLORIDA.COM

etc. … | news, notes and commentary ○

U S F A D VA N C E S C A N C E R T E C H N O L O G Y

SPORTS Legendary golfer ARNOLD PALMER has a prominent place in the GOLF CHANNEL’S new 13,295-squarefoot expansion. The 2,520-square-foot, 170-seat cafeteria is called Arnie’s. Also, there’s a new The Golf Channel, headquartered in Orlando, has 1,440-square-foot a sprawling new headquarters and an ode to a local resident, Arnold Palmer. lobby that features tributes to Palmer, including murals and a timeline with memorabilia. In keeping with the theme, a state-of-the-art golf simulator and a putting green are part of the interior touches.

○

FLORIDA HOSPITAL is sporting a new partnership these days, one that will make it the second founding partner (after Toyota) for DAYTONA RISING. Starting in 2015, Florida Hospital will become the exclusive health-care provider for Daytona International Speedway’s $400 million redevelopment project. One of five new entrances planned as part of the speedway’s redevelopment will be named the “Florida Hospital Gate.”

TECHNOLOGY TRANSGENEX NANOBIOTECH INC., a research and development company, has announced that its cancer nanotechnology division has exclusively licensed the UNIVERSITY OF SOUTH FLORIDA’S “3D TUMOR CELL” TECHNOLOGY for all cancer-related uses. This marks a first step for the company to evolve technology to product manufacturing. The licensing agreement will enable the company’s novel “tumor-on-a-dish” platform and provides TransGenex exclusive rights to commercialize 3D cancer cell culture reagents.

Eustis, Florida

We’re powered by what’s most important. We care about strengthening the communities we serve. We’re partnering with local and state economic development groups to recruit new businesses, creating jobs and opportunities that benefit our customers. Because, every day, we’re powered by what’s most important – you.

Learn more about how we’re powered by you at duke-energy.com/ForYou.

DECEMBER 2014 • FORWARDFLORIDA.COM

etc. … | news, notes and commentary ○

N E W G A I N E S V I L L E T R A N S I T FA C I L I T Y

○

TRANSPORTATION The GAINESVILLE REGIONAL TRANSIT SYSTEM received a 40th anniversary present — a new $39.8 million facility. The bus fleet maintenance and operation facility, fully built with federal dollars, doubles the bus capacity to 200 in anticipation of future growth. City officials and local politicians applauded a cooperative community spirit that enabled the project to become reality.

Readying for growth, Gainesville Regional Transit has moved into a new facility.

We get your point of view and...

bring it to life!

We’re ready to bring our passion to your project.

CONSTRUCTION MANAGERS

BUILDING AIRPORTS/PORTS CRIMINAL JUSTICE DISTRIBUTION EDUCATION ENTERTAINMENT GOVERNMENT HEALTHCARE/LABORATORY HOSPITALITY INDUSTRIAL/MANUFACTURING OFFICE BUILDINGS PUBLIC ASSEMBLY RESIDENTIAL RETAIL SOLAR

Crescent Bayshore CGC 1511059

CONSTRUCTION MANAGEMENT | DESIGN-BUILDER | GENERAL CONTRACTOR Headquartered in Fort Lauderdale, FL with Offices in California, Florida, Georgia, Hawaii, South Carolina & Texas

Among the Top Building Contractors in the U.S.

mosscm.com | 855.360.MOSS (6677)

W FORWARDFLORIDA.COM

county report |

super region at a glance

ASA, once again made history from Cape Canaveral, when it launched Orion on Dec. 5, going farther into deep space than any craft designed for human flight since 1972. The cone-shaped capsule perched aboard a United Launch Alliance Delta IV rocket successfully orbited the Earth twice during its 4.5-hour flight and splashed down in the Pacific some 600 miles south of San Diego. Eight years in the making, Orion is designed to bring humans to deep space destinations, such as an asteroid — and eventually Mars. Traveling to an altitude of 3,600 miles into space, the ETF-1 went 15 times farther than the International Space Station at an impressive 20,000 miles per hour. The flight was intended to test many of the elements that pose the greatest risk to astronauts, as well as provide critical data needed to improve Orion’s design and reduce risks to future mission crews. Among the components tested were avionics, attitude control, parachutes and the heat shield (withstood 4,000 F˚). Ultimately, Orion will fly atop the Space Launch System, a rocket with deep-space launch capabilities that will rival the legendary Saturn V rocket that powered the Apollo moon missions. NASA officials hope to have Orion manned around 2021 and eventually land on the Red Planet in the 2030s.

Orion lifted off from Cape Canaveral Air Force Station’s Space Launch Complex 37. NASA/BILL INGALLS

DECEMBER 2014 • FORWARDFLORIDA.COM

NASA’s test flight ushers in Mars era of space travel.

county report |

super region at a glance

ORANGE WHERE’S THE BEEF? There was belief in some corners that development wouldn’t occur here until the cows came home. Well, the cows may be moving. Lake Pickett North LLC, with ties to a Dallas firm, purchased 700 acres of the century-old Rybolt Ranch in east Orlando for $15.5 million. Eventually all of the 1,435-acre ranch land will be sold. Plans have been submitted to Orange County for a mixed-use development with nearly 2,000 homes and about 100,000 square feet of commercial space. Yet, a battle over cattle could result. In 2010, there were plans to build Rybolt Park, another massive redevelopment, but the project didn’t make it out of the gate. MAYOR STATE OF DOWNTOWN Orlando Mayor Buddy Dyer capped off a big year for the City Beautiful, declaring himself “The happiest mayor in all of America,” during his annual State of Downtown Orlando address on Dec. 3. He highlighted the city’s accomplishments in the past year including SunRail, the renovated Orlando Citrus Bowl, the Orlando City Lions (Major League Soccer franchise), the University of Central Florida and Valencia College’s plans for a shared downtown campus and the opening of the Dr. Phillips Center for Performing Arts. Dyer laid out the roadmap for the city’s future, including growing Orlando’s tech hub, supporting new business, enhancing transportation and furthering education through projects such as Creative Village. A video from Project DTO, a task force that has been working on a plan for downtown’s future, was part of the event. Fourteen projects are underway currently, representing $372 million in investments. Four major projects are slated for 2015, including significant I-4 improvements.

I-4’s 21-mile makeover across Orange and Seminole counties, comes with a price tag of $2.3 billion.

ULTIMATE MOBILITY Work on Interstate 4 begins with big plans, high hopes and requested patience. Since the Skanska-led I-4 Mobility Partners team closed its financial and commercial deal in September with the Florida Department of Transportation, the clock has been ticking on the I-4 Ultimate project in Orlando. Now, with the details of financing, design, construction, operation and maintenance in place — with all due respect to those related efforts — the real work is set to begin. Shortly after the new year, the $2.3-billion, 21-mile makeover of Interstate 4 from Kirkman Road to State Road 434 will bring lane closures and other inconveniences — along with the vision of transformation. Officials acknowledge the hardships to drivers but expect Central Florida’s major transportation artery will gain a new lease on life. They hope to ensure a sustainable economy for the region well into this century. In brief recap, the public-private partnership project involves the reconstruction of 15 major interchanges; reconstruction of more than 140 bridges; four variable priced toll express lanes in the median; and the rebuilding of general-use lanes along the entire 21-mile corridor. The partners estimate construction will be completed by 2021. Moreover, Florida’s largest transportation project will deliver the “efficient movement of goods, convenient mobility of the labor force, and access to the communities and businesses that make Central Florida a renowned place to live, work and play.” Very promising — and sure to test patience.

W FORWARDFLORIDA.COM

county report |

super region at a glance

PEDAL POWER “Bike here.” That could well be the visitor slogan for southern Lake County, which has been designated a “bicycle friendly community” by the League of American Bicyclists. The South Lake Chamber’s Sports & Tourism Committee hitched its marketing wagon to bicycle riding, an initiative backed by five South Lake communities (Clermont, Groveland, Mascotte, Minneola and Montverde) along with South Lake Hospital and local business, The Cycling Hub. South Lake County is the only Florida community, among 55 entries, to be recognized. And it’s the second fitness-related designation for the region, previously being cited as “runner friendly.”

FLAGLER

MANATEE/SARASOTA

SEMINOLE

PRESERVING NATURE A new nature preserve that’s surrounded by development? Long Creek Nature Preserve in Flagler County has just that distinction, following its recent opening on one of Palm Coast’s busier streets (Palm Harbor Parkway). The plan is to build an environmental education center on site. At present, a fishing pier and a launch for canoes and kayaks serve as the classrooms. The environmentally sensitive land is rich in marine life and offers views of nesting water birds, alligators, and other Florida flora and fauna. With extra sensitivity to the land’s unique character, the City of Palm Coast enlisted a design team composed of architects, interior designers, environmentalists, engineers and archaeologists, including Bellomo-Herbert Landscape Architects (the prime consultant on the project), OCI MEP Engineers, Bishop Consulting Engineers, CPH Civil Engineers and VOA.

TREASURE HUNTING While Sarasota is getting upscale new shopping (The Mall at University Town Center) along with noteworthy projects like Westin Sarasota and VUE Sarasota Bay (Page 13), neighboring Manatee is making its own splash with Infinity Crossgate. A condominium building with units that start at almost $3 million is under construction on Longboat Key, on the Manatee County side of the barrier island. The five-acre site encompasses a main residence building, pool, clubhouse with fitness center and tennis court. Eleven units are planned by Georgia-based Crossgate Partners LLC, with “condo” sizes ranging up to 6,370 square feet. Covered balconies and floor-toceiling windows offer views of the Gulf of Mexico and Sarasota Bay.

SCRATCHING THE SURFACE The 32-year-old landmark, Flea World, is changing faces and increasing in value. A lively bazaar of makeshift shops and more than 1,000 booths, Flea World will turn into a mixed-use development called Reagan Center — if plans are approved. In addition to the Flea World site, assorted parcels totaling 118 acres along key stretches of roadway in Sanford will accommodate new single-family homes, apartments, offices and other stores. The property, currently valued at $15 million, would be worth an estimated $200 million-plus at buildout. Property owner Syd Levy has put together a development team consisting of RM Strategies Inc. in Winter Park and IBI Group of Maitland. NAI Realvest of Orlando will be the broker of record.

DECEMBER 2014 • FORWARDFLORIDA.COM

WUSF TV watch & learn WSMR 89.1 & 103.9 classical music WUSF 89.7 news, information & all night jazz WUSF.ORG your online source

celebrating our anniversary

W FORWARDFLORIDA.COM

perspectives |

leading points of view

tatewide, Florida averages between AMID UNCERTAINTY, 48 to 60 inches of rain annually. ENCOURAGING PROGRESS IN How is it, then, that we experience such major water shortfalls? CENTRAL FLORIDA’S WATER The reason is that the state’s water CONSERVATION EFFORTS management system does not manage. It drains. To keep land usable for commercial and residential development, agricultural purposes and other needs, the system was designed to drain rainfall from inland areas to the coast as rapidly as possible. It performs this function very well. However, the original federal floodcontrol plans also called for creating retention areas or reservoirs to capture water during heavy rainfall — but most of these were never built. If we continue with our current water policy, key regions of Florida will expeas large regional water projects necessary rience even more severe water shortages. to implement CFWI. But there is hope. Looking forward to the 2015 legislative Ever since 2006 — with the “How session, other water-management efforts Shall We Grow?” planning effort of must be addressed as well. For instance, myregion.org why is water flow — the state’s three decreasing at some water management springs, and what districts have been solutions can be teaming up with found? Also, the community leaders by MICHAEL D. MINTON health and preserCHAIR, DEAN MEAD AGRIBUSINESS to study Florida’s vation of the water issues. This Everglades conhas now evolved tinues to be an issue. into developing It is necessary to potential solutions provide distribution through the Central of water from Lake Okeechobee to the Florida Water Initiative (CFWI), a conEverglades, and we must stop frequent servation-minded collection of state freshwater discharges to the estuaries, an agencies, cities and utilities. act that causes environmental harm. Already, we’re seeing encouraging progress on the political front. In November, voters across the state In Central Florida, most everyone approved Amendment 1, also known as relies on groundwater for supply. But the Florida Water and Land Conservation groundwater, which is derived from the Initiative, by a 3-1 margin. Now, 33 upper and lower Floridan aquifer, no percent of revenues from the doculonger has the capacity to sustainably mentary stamp tax on real estate transacmeet current or future needs. Until tions will be earmarked for water conserrecently, Florida’s water management vation and management projects over the districts had never reached consensus on next 20 years. modeling the available groundwater. These funds serve a two-fold purpose. To resolve the state’s water problems, First, they enable the state to manage and we must also address conservation, maintain existing properties. Second, retention and better utilization of surface they provide a dedicated revenue stream water. A prime example lies a short disto service bonds, the proceeds from tance from Central Florida, where the which the state can use for projects such Treasure Coast region has an abundance

2222

DECEMBER DECEMBER 20142014 • FORWARDFLORIDA.COM • FORWARDFLORIDA.COM

of water. Unfortunately, it is discharged into the estuary and Indian River Lagoon, causing harm to native habitats. But for the drainage system, much of this water would naturally drain north, up the St. Johns River Basin. Meanwhile, Central Florida is running short on water to meet the ever-increasing demands of a burgeoning population — an estimated growth of 6.6 million people within 40 years. Common sense would dictate that the resolution of one region’s overabundance may help solve another’s water supply deficit, thus benefitting both regions. This is but one out-of-the-box, forward-thinking proposition under consideration.

On paper, the solutions are simple. In reality, the implementation of these solutions will be expensive and take time and cooperation. The key to success is whether all parties — on the local, regional, state and federal levels — can work together. We must find ways to best meet the needs of all Floridians, current and future, in balance with our delicate environment. CFWI is a bold step to achieve these goals and objectives. MICHAEL D. MINTON IS A SHAREHOLDER AND THE CHAIR OF THE DEAN MEAD LAW FIRM’S AGRIBUSINESS INDUSTRY TEAM. HE WAS VICE CHAIRMAN OF THE GOVERNING BOARD OF THE SOUTH FLORIDA WATER MANAGEMENT DISTRICT FROM 1997 TO 2001.

Central Florida’s Priorities are Our Priorities Transportation

Advance Connectivity and Access

Sources of Capital

Position Region as a Center for Innovation and Investment

Florida’s Super Region

Unify and Champion America’s 10th Largest Economy

Talent Pipeline

Attract, Cultivate and Retain Talent—Cradle to Career

International Business

Export to the World via Local-to-Global Trade

Bringing business and civic leaders together to work on the big issues that span our seven-county region is what the Central Florida Partnership is all about. Every day, Central Florida moves closer to achieving its full potential as a globally-recognized, high-performing economy. The Partnership makes it possible by identifying the opportunities, thinking big and taking action—by moving “Ideas to Results.” Join us by investing in our region and moving our community forward. Call Amanda Muley at 407.835.2512 or ﬁnd out more at www.IdeasToResults.org.

@CFLPartnership #IdeasToResults

innovations |

growing ideas into enterprises

UCF engineering students set out to change the world with Limbitless Solutions.

rowing up in Tarpon Springs, Florida, Albert Manero was taught the importance of community citizenship. “I learned to give back; I was raised that way by my parents. I was made aware that we should always be trying to make a difference,” he recalls. At the same time, young Manero had an inquisitive mind. During high school in 2005, he was introduced to 3-D printers and had already decided to become an aerospace engineer. “That’s what I’ve wanted to do the entire time,” he says. “[Back] at that time, people used to laugh because [space commercialization] didn’t exist. Now the dreams are coming true.” His dreams are indeed coming true, along with those of his team of senior design students, and all are rooted at UCF. Manero and his team are proving that an engineering education can lead to lifechanging innovations, and ultimately entrepreneurial success, with the help of a continuum of campus resources. Prior to graduating from UCF with a master’s degree in Spring 2014, Manero was already well on his way toward making a difference. Along with a team of fellow students, he began working on a prototype that would lead to a Florida 6-year-old gaining use of an arm. Last July, Alex Pring hugged his mother for the first time, thanks to a bionic arm students designed and manufactured in the UCF Maker Space Labs at the College of Engineering and Computer Science. Created on a 3-D printer and operated with off-the-shelf servos and batteries activated by the electromyography muscle energy on Pring’s bicep, the arm’s cost was less than $350. Children’s prosthetic limbs are especially difficult to make because of the need to miniaturize components. Additionally, most insurance companies won’t pay for prosthetics because they

DECEMBER 2014 • FORWARDFLORIDA.COM

Alex Pring of Groveland received a bionic arm from a team of UCF engineering students at a cost of about $350, using a 3-D printer, simple materials and wondrous innovation. The team is continuing to work with Pring to enhance his physical capabilities.

Epicenter for Lean Startup Movement in Florida The UCF I-Corps program welcomes the co-founder and and director of its Center for Innovation and leader of the Lean Startup movement on Jan. 29. Jerome Entrepreneurship. “Having the co-founder and leader in the “Jerry” Engel, Ph.D., makes special appearances at a roundLean Startup movement here to spend time with students, table discussion at the UCF campus and a community event faculty, aspiring entrepreneurs and industry leaders is an downtown, as part of the official launch and debut of incredible opportunity. We look forward to learning the UCF I-Corps program — firmly rooting Central from him as we develop and shape our own I-Corps Florida as the epicenter of the Lean Startup program.” movement within the state. Collaborating closely with Steve Blank, chief The Lean Startup movement promotes a architect of the Lean LaunchPad method, Engel nontraditional classroom approach to entreprehelped develop the curriculum and co-authored the neurial learning. This hands-on methodology LaunchPad Educators Guide. A veteran of Silicon requires students to propose and test their Valley, he joined the University of California at hypotheses in “real world” scenarios. Industry Berkeley in 1991 to found the Lester Center for mentors review findings with students, helping Entrepreneurship. As an adjunct professor at the JEROME ENGEL Haas School of Business, he has instructed in both them make appropriate adjustments to their innovation and/or launch plan in preparation for bringing the school’s MBA and Executive Education protheir ideas to market. Lean Startup emphasizes engagement grams specializing in entrepreneurship, new venture and experiential study. finance, corporate innovation and UCF I-Corps, offered by the UCF Center for Innovation venture capital. He has taught the Lean and Entrepreneurship, is a statewide program designed to LaunchPad at Berkeley and across the foster, grow and nurture an innovation ecosystem. Through United States as national faculty partnerships between the National Science Foundation, director of the NSF’s I-Corps program, Florida universities and venture capital and entrepreneurial which has trained more than 300 communities, UCF is creating an opportunity for teams teams of the nation’s leading scientists. Internationally, he is throughout the state and region to turn technology into supervising programs in Asia and Europe. Additionally, as scalable, high-growth, commercial opportunities. faculty director of a highly rated faculty development “We consider it a great privilege to welcome Jerry Engel to program in the United States, conducted at Berkeley, Central Florida,” says Tom O’Neal, Ph.D., associate vice Stanford and Columbia, he has trained several hundred president of UCF’s Office of Research and Commercialization faculty in the method.

need to be replaced often as a child grows. Undeterred, Manero and his team made it happen, and their success continued. Just before Thanksgiving, 7-year-old Madelyn Rebsamen from Virginia received a present — a new bionic hand from the Limbitless Solutions Foundation, an organization founded by Manero and other UCF engineering students. The hand was the first of its kind, specially designed to include part of a forearm. Students spent their spare time and their own money on the project. Manero — a Fulbright scholar who is currently working for the German Aerospace Center and scheduled to receive his Ph.D. from UCF in Fall 2016 — is out to change the world. “When you can get people to dream big things, then you have a real chance of changing the world,” he says. Now in typical fashion at UCF — or, perhaps more aptly, in prototypical fashion — entrepreneurship beckons. Limbitless Solutions is seeking ways to

solve other problems, and discussions continue with colleges across the country to expand production of 3-D printed bionics. All of this is part of UCF’s holistic approach to student entrepreneurship — from innovation to commercialization — that is headquartered at the UCF Center for Innovation and Entrepreneurship (CIE). CIE consolidates and coordinates major innovation and entrepreneurship support activities, with the goal of leveraging university and regional partnerships to create an effective entrepreneurial support infrastructure. Across campus there are lab and maker spaces, mentorship and guidance, assistance with funding and business incubators, business plan competitions and events, programs to develop technology spinouts, and a wealth of assistance as enterprises grow and spread their wings. Or in the case of the UCF-born Limbitless Solutions Foundation, spread their arms and hands.

Madelyn Rebsamen’s new “helper hand” is the latest effort by the Limbitless Solutions Foundation but likely not the last. The foundation is actively seeking other partnerships and projects.

W FORWARDFLORIDA.COM 25

hospitality & tourism |

spending in the sunshine state

PHOTO COURTESY OF FOUR SEASONS RESORT ORLANDO AT WALT DISNEY WORLD RESORT

DECEMBER 2014 • FORWARDFLORIDA.COM

The FOUR SEASONS RESORT ORLANDO AT WALT DISNEY, which opened in August, received the coveted Five-Diamond designation from AAA. The 443-room resort is the only Orlando property to have this elite recognition. Situated on 980 acres, it recently opened its Tom Fazio-designed 18hole Tranquilo Golf Club. The resort also features five on-property restaurants and its own five-acre waterpark.

Nearby, MICKEY MOUSE celebrated a birthday on Nov. 18 – the iconic character turned 86. He entered the public stage in the animated short film, “Steamboat Willie” in 1928.

And Mickey and company are still going strong. Walt Disney Parks and Resorts recently purchased 3,000 acres of land called MIRA LAGO for $11.5 million. Located in Osceola and Polk counties, the land borders the Disney Wilderness preserve. Environmentalists are happy with the transaction. In exchange for conserving the tract of land, Disney would like permission to develop 350 acres of the wetlands during the next 20 years.

In other Disney news, the SWAN AND DOLPHIN HOTEL is undergoing a $125 million renovation coinciding with the property’s 25th anniversary. The multiphase, multiyear redesign project will transform every guest room in the 758-room Swan Hotel and the 1,509-room Dolphin Hotel. The entire project will be complete by the end of 2017.

W FORWARDFLORIDA.COM 27

hospitality & tourism |

spending in the sunshine state

Record Tourism

Florida is on pace for its fourth consecutive record year of tourism. VISIT FLORIDA’s preliminary estimate is 23.7 million visitors came to Florida in third quarter 2014, an increase of 3.5 percent over the same period last year. Through the first three quarters of 2014, VISIT FLORIDA estimates the state welcomed 73.9 million visitors, an increase of 2.5 percent over same period last year. Visitor spending in the state from January through August, was $55.6 billion, a 7.3 percent jump from 2013. Tourism, the state’s No. 1 industry was responsible for welcoming 94.3 million visitors in 2013 who spent $76.1 billion, generating 23 percent of the state’s sales tax revenue and employing nearly 1.1 million Floridians. There will be cause for celebration when final numbers are released in 2015.

Admission Price

The Orange County Convention Center in Orlando was host of the INTERNATIONAL ASSOCIATION OF

AMUSEMENT PARKS AND ATTRACTIONS (IAAPA) EXPO in November and it “attracted” 30,500 amusement park and industry professionals from 116 countries, making it the largest trade show in 17 years and the second largest in event history. The $39.5 billion global attractions industry delivers a thrilling $51.3 million economic impact to Orlando from its expo. The trade show is contracted in Orlando through 2025. Florida attractions LEGOLAND and BUSCH GARDENS were recipients of Brass Ring Awards during the event.

Shopping Meccas

Tourists come to Florida and tourists shop in Florida. Fortune magazine recently published the 10 top highest sales-generating malls in the United States according to data by real estate analysis firm Green Street Advisors. Guess what state captured the No. 1 spot and three others slots? Florida. And with that, the state is home to the most lucrative malls in the nation. Topping the list is BAL HARBOUR

Mall at Millenia in Orlando attracts local shoppers and tourists.

SHOPS in Bal Harbour. Located just north of Miami Beach, anchored by Neiman Marcus and Saks Fifth Avenue, the 50-year-old mall registers in with sales per square foot of $3,010. Coming in at No. 6, also in South Florida is AVENTURA MALL in Aventura, north of Miami. The state’s largest shopping mall and the second largest after Mall of America in Minneapolis in terms of number of visitors with 28 million; it enjoys sales per square foot of $1,500. No. 7 and No. 8 are in Orlando. The MALL AT MILLENIA edged out Orlando Premium Outlets by $15 per square foot. Opened in 2002, the Mall at Millenia is anchored by Neiman Marcus, Bloomingdale’s and Macy’s. The 1.2 million-squarefoot mall is located close to downtown Orlando and also near attractions and hotels found on the west side of Orlando. Sales per square foot are $1,400. ORLANDO PREMIUM OUTLETS is only two miles from Walt Disney World and has been expanded twice since opening in 2000. There are 160 stores and the sales per square foot are $1,385.

London Calling

Meeting Matters A luxurious meeting setup at Florida’s Space Coast.

VISIT FLORIDA, the state’s official tourism marketing corporation, conducted its annual appointment-based trade show, FLORIDA ENCOUNTER, Dec. 3 to 5 at the Bonaventure Resort & Spa in Fort Lauderdale. The three-day event showcased Florida’s meetings, conventions and incentive industry to travel professionals around the world.

DECEMBER 2014 • FORWARDFLORIDA.COM

Billed as the premier hospitality, travel and tourism fundraiser in Central Florida, the annual GRAND TOUR GALA was Nov. 1 at the HILTON ORLANDO RESORT. The London-themed event honored this year’s Dick Pope Legacy Award recipients: Steve Hogan, CEO of Florida Citrus Sports; Adrian Jones, general manager of LEGOLAND® Florida Resort and VP Merlin Entertainments USA; Richard Kessler, chairman and CEO of The Kessler Collection hotels; and Emeril Lagasse, celebrity chef and TV host of Emeril’s Florida. Produced by UCF’s ROSEN COLLEGE OF HOSPITALITY MANAGEMENT and the ORLANDO CHAPTER OF THE NATIONAL ASSOCIATION FOR CATERING AND EVENTS (NACE), the Gala has raised more than $200,000 to date for student scholarships and programs at UCF, Valencia College, Daytona State College, Mid Florida Tech Orlando, the Florida Restaurant & Lodging Association Educational Foundation and NACE Education Foundation.

innovations |

growing ideas into enterprises

As colleges and universities change in the name of innovation, Stetson holds steady to its guiding principles.

ational experts say that higher education in general must become innovative or die, and they believe universities like Stetson are no exception. “To play its indispensable function in the new competitive environment, the typical university must change more quickly and more fundamentally than it has been doing,” write Clayton M. Christensen and Henry J. Eyring in the book The Innovative University. “Economists teach that disruptive innovation by newcomers and creative destruction of entrenched incumbents lead to better products and services.” They applaud for-profit universities as disruptors that are changing the way students are educated. At Stetson University, leaders want to embrace innovation — but only innovation that fits Stetson and with the belief that private liberal education isn’t broken. “We have to be very skeptical about management theories applied to what we do,” says Wendy B. Libby, Ph.D., president of Stetson. “We are already seeing Clay Christensen’s disruptive innovation theory losing adherents in our industry, likewise with MOOCs (Massive Open Online Courses).” Libby, however, does believe innovation must be woven into the fabric of the place. “We must honor the past,” she notes, “but write the future.” INNOVATE OR DIE

Christensen hasn’t had a good time lately. For example, a recent New Yorker article by Jill Lepore all but calls his

research spurious. Similarly, a recent cover story in The Economist magazine argues that “a revolution has begun, thanks to three forces: rising costs, changing demand and disruptive technology. The result will be the reinvention of the university.” Agree or disagree about how disruption should occur, many innovation experts have put higher education on notice. The Economist magazine offers this warning if universities don’t embrace innovative disruption: “The Internet, which has turned businesses from newspapers through music to book retailing upside down, will upend higher education. Now the MOOC, or ‘Massive Open Online Course,’ is offering students the chance to listen to star lecturers and get a degree at a fraction of the cost of attending a university. “But mediocre universities may suffer the fate of many newspapers,” the article continues. In that environment, “universities’ revenues would fall by more than half, employment in the industry would drop by nearly 30 percent and more than 700 institutions would shut their doors. The rest would need to reinvent themselves to survive. Like all revolutions, the one taking place in higher education will have victims.” ONLINE MODEL FORCES CHANGE

After the 2008 economic collapse, many universities and colleges, especially private ones, suffered a financial downfall not seen since the Great Depression. Some universities and colleges then joined or renewed their efforts in the online game, hoping to boost revenue through an untapped source. The New York Times called 2012 the Year of the MOOC. California Gov. Jerry Brown praised MOOCs as central to democratizing education. Productivity and cost cutting are two key business terms that have bled into higher education. Therefore, many innovation experts look at online as a way to control tuition costs at the nation’s colleges and universities. You can teach many more students in MOOCs than you

can in a typical classroom, thus cutting costs per student. At the same time, many people believe higher education isn’t asking the right questions. “Our starting point ought to be what students need and whether this is an effective form of learning,” says Phil Hill, an education technology consultant. Studies have pointed to the downside of buying into the online model. Completion rates and grades are often worse than traditional campus-style classes, according to a University of Pennsylvania study, and MOOCs have few active users. About half who registered for a class ever viewed a lecture and only garnered a 4-percent completion rate across all courses. In that same study, students complained about the lack of human connection. ONLINE EDUCATION IN DECLINE?

“Can we truly be innovative in this area?” asks Sue Ryan, the Betty Drees Johnson Dean of Stetson’s duPont-Ball Library. Stetson has four totally online degrees — Master of Laws (LL.M.), Elder Law (LL.M.), the MBA-Pharmacology and a Master of Accounting. During the summer, the university offers several undergraduate online courses. Ryan has been charged with developing a proposal for new online course offerings, but she looks at online education as an “old technology,” too. She doesn’t want this way of offering courses to hamper Stetson’s reputation as a residential university campus that offers a challenging and personal education to motivated undergraduates and graduates. “We have to remember what Stetson does well and not do anything to muck that up,” Ryan says. “Let’s create students who think critically, who can write clearly and with vigor, and who can speak compellingly. “We already do this quite well.” EDITOR’S NOTE: BILL NOBLITT IS EDITOR OF STETSON MAGAZINE, WHERE YOU CAN READ A COMPLETE VERSION OF THIS ARTICLE.

W FORWARDFLORIDA.COM 29

LAND DEVELOPMENT | DEVELOPMENT

Unlocking land development trends in Florida

hat is the “lay of the land” in Florida real estate markets, six years after the Great Recession turned them all into swamps? Where is the high ground today? Are there any peaks that stir excitement? There is no question that real estate markets in Florida are recovering from the recession. Statewide data from the Florida Association of Realtors show steady increases in the volume of residential sales and in median prices, and steady declines in short sales from nearly 25 percent of all home sales in 2011 and 2012 down to less than 8 percent for the third quarter of 2014. Similarly, home foreclosures are sharply down from a year ago. And apartment properties are almost uniformly well-filled to the point that rents are rising. But while there is broadly good news across Florida’s real estate terrain, we can still wonder if there are interesting peaks of promise on the map. Are there areas of higher opportunity? Are there property types with special promise? For some answers, we turn first to the markets of Central Florida, then to residential development around the state, and finally to Miami and the “Gold Coast.”

DECEMBER 2014 • FORWARDFLORIDA.COM

ORLANDO CLIMBING

Though Central Florida is geographically very flat, there is a real estate mountain in Orlando today. The single largest development in Central Florida is Tavistock Development Company’s master planned community, Lake Nona and Lake Nona Medical City. Located immediately southeast of the Orlando International Airport, the project reflects almost $3 billion in investment so far, having already captured more than 5,000 jobs, essentially from five hospitals and medical research facilities. Ultimately, the entire 7,000-acre development is projected to host 30,000 jobs in the next few years and it will build out to 11,000 residential units. All of this is before the impact of expansion just a mile or two away at the Orlando International Airport. There, a $1.1 billion improvement program is beginning, expected to extend across the next few years, and to include an intermodal transportation terminal that ties the airport — and Lake Nona — to Central Florida commuter rail, to the Orange County Convention Center by Maglev, and by rail to Miami. The airport expansion should itself add a significant number of new jobs to the airport and immediate neighborhood. But the Lake Nona and Orlando International Airport activities are not the only real estate peaks in the Central Florida area. The University of Central Florida, now with about 60,000 students, has exploded to become the second-largest university in the United States in terms of total students. Its momentum is expected to carry with it creation of additional student housing, research facilities and other university related construction in the years ahead. Its affiliated research park hosts more than 10,000 jobs, and looks to continue expanding. I-4 CORRIDOR CURRENTS

In addition, new development is emerging in the I-4 corridor from Orlando to Lakeland, including numerous large industrial projects totaling several million square feet of new generation warehouse space and distribution centers. This growth is driven in part by the new CSX Central Florida Intermodal Logistics Center in Winter Haven. This facility, opened in early 2014, enables efficient transfer of containers from rail to truck. It appears to have spawned the beginnings of as much as 8 million square feet of warehouse and light industrial space immediately adjacent to the facility, expected to create a pivotal distribution hub for major U.S. companies. Other new distribution facilities in the area include two Amazon fulfillment centers in Ruskin and Lakeland. Complementing the industrial activity is the new Florida Polytechnic University campus in Lakeland.

A lake to a view: condominiums in downtown Orlando.

In North-Central Florida is also The Villages. Located at the intersection of Marion, Lake and Sumter counties, this unprecedented retirement community has grown in little more than 25 years from pastures and groves to a community exceeding 100,000 inhabitants. Though the original land holdings of the community may be nearly built out, it seems unlikely that the factors contributing to its success have changed, or that similar retirement communities will fail to follow in the area. This could happen rapidly if the long expected baby boomer migration is reignited by rising house prices that release retiring boomers from their current underwater mortgages. What about outside of Central Florida? Have the master-planned communities that arose from Florida’s historic ranches and that drove so much suburban building and expansion in years past run their course? The answer seems to be yes, and maybe no. While there seems to be little prospects on the horizon for new master-planned communities; in numerous locations of Florida the established communities remain incomplete. Examples include Harmony in Osceola County, Tradition in St. Lucie County, Viera in Brevard County, Babcock Ranch in Charlotte and Lee Counties, and Lakewood Ranch in Sarasota. (It is interesting that adjacent to Lakewood Ranch the only new enclosed mall of 2014 in the United States, Mall at University Town Center, just opened in November.) Many of these older suburban communities have ample undeveloped sections that could see new activity in the future given the emergence of effective economic drivers.

W FORWARDFLORIDA.COM

LAND DEVELOPMENT | DEVELOPMENT

Downtown Miami gleaming at night.

MOON OVER MIAMI

There also are interesting central city developments and redevelopments beginning to occur in most of Florida’s metro areas. However, the biggest single story in Florida at this time is the resurgence of downtown Miami. In 2008 there were roughly 22,000 residential units for sale in Miami, an oversupply of several years by almost any standard. Today that surplus is completely gone, and CraneSpotters.com, as reported by the Miami Association of Realtors, reports 96 new residential towers with 14,690 units, with 65 percent presold. Altogether, in the three “Gold Coast” counties — Dade, Broward and Palm Beach — the same report shows 16,925 units in 138 residential towers with 65 percent presold. In Miami the “Minimum Mean Price per square foot for presold units” is $850, and $772 for the three-county area. Despite the common requirement that buyers deposit 50 percent or more of the price, the market is vigorous. So what is happening in Miami? In large measure the long-expected transformation of Miami into an international city has taken another giant step forward. Now buyers are not only from Central and South America (including for the first time in large numbers, Brazil), but are reported to be from Russia, other areas of Europe, the Middle East and China. A further signal of the radical reversal of the Miami market is that foreclosures have fallen by half from a year earlier. This was driven by not only the international market demand but also by one of the highest house price increases last year (11 percent) among all of the 20 major metro areas monitored by the Standard & Poor’s/Case-Shiller Home Price index. The influence of international demand is

3232

DECEMBER 2014 DECEMBER 2014• FORWARDFLORIDA.COM • FORWARDFLORIDA.COM

apparent from the fact that more than half of all condo sales are all cash. (In most markets that percentage is closer to 25 percent.) Since something like 90 percent of international buyers are reported to pay all cash, an important result is that this market has not been deterred by restrictive mortgage financing like most other housing markets. Unquestionably, there is a darker side to the surge in development in Miami. The luxury demand is driving up the cost of new housing while the value of existing modest housing is failing to keep pace with increases in the luxury market. In short, housing is becoming a greater challenge for below median income households, and this is a growing concern that is likely to set the stage for sinkholes in the real estate business and in the community structure of Miami, as well as elsewhere. Overall, the real estate terrain of Florida is at an increasingly positive elevation, and, as always, has some dramatic opportunity peaks. But unlike mountain ranges, these peaks are ever changing. The challenge in real estate continues to be to watch for where new ones are emerging.* EDITOR’S NOTE: WAYNE ARCHER, PH.D., IS THE EXECUTIVE DIRECTOR OF THE BERGSTROM CENTER FOR REAL ESTATE STUDIES AND HUSSEY PROFESSOR OF REAL ESTATE AT THE UNIVERSITY OF FLORIDA IN GAINESVILLE. *THANKS TO DARYL CARTER, PRESIDENT OF MAURY L CARTER & ASSOCIATES, INC., JAMES MOTTA, PRESIDENT OF TRITON ATLANTIC PARTNERS, AND PERRY READER, PRESIDENT OF READER & PARTNERS FOR THEIR THOUGHTFUL SUGGESTIONS FOR THIS SUBJECT. ALL ARE ASSOCIATED WITH THE BERGSTROM CENTER FOR REAL ESTATE STUDIES ADVISORY BOARD.

LAND DEVELOPMENT | FACTS & FIGURES

BY THE NUMBERS

Construction Counts CONSTRUCTION ACTIVITY:

With official 2014 numbers expected to close stronger than 2013, consider this: According to McGraw Hill Construction, $4.5 billion worth of residential and commercial building permits were filed across Metro Orlando in 2013, a 43 percent increase from 2012. Also notably, more than $2 billion worth of projects were permitted in the City of Tampa during FY 2014, surpassing the previous record of $1.78 billion permitted in FY 2007 during the height of the real estate boom.

COMMERCIAL REAL ESTATE:

Across the U.S., new development and spending for office, industrial, warehouse and retail contributed $376 billion to GDP in 2013, supporting 2.8 million jobs with wages and salaries of $120 billion, according to NAIOP, the Commercial Real Estate Development Association.

INDUSTRIAL SPACE:

In terms of Metro Orlando warehouse/distribution/ service centers under construction, Lake Nona/Orlando International Airport has more than double the activity of any other area, with a total of 1,097,497 square feet rising, according to Cushman & Wakefield Research Services.

PROJECT BIDDING:

For Metro Orlando, BidClerk data showed that more than 250 new construction projects were released for bid in Q2 2014 with contracts valued at $800 million. For Tampa Bay, more than 500 new construction projects were released for bid with contracts valued at $450 million.

OFFICE SPACE:

During Q2 2014, the Central Business District submarket had the area’s lowest reported vacancy in Tampa at 15.1 percent. Also, Tampa Bay’s office market experienced a total net absorption of 28,704 square feet.

FASTEST-GROWING SECTOR:

In both Metro Orlando and Tampa Bay, construction and mining is projected to be the fastest-growing sector from 2014 to 2017, according to the University of Central Florida’s Institute for Economic Competitiveness. Projected growth for this sector in Metro Orlando and Tampa Bay is 10.2 percent and 7.8 percent, respectively.

W FORWARDFLORIDA.COM 33

LAND DEVELOPMENT | CORRIDORS OF GROWTH

First pilot study of East Central Florida Corridor Task Force

he ultimate characteristic of any great leader or entity, including states, is vision and a plan for its future. Florida has been a magnet for people, businesses and its share of visionaries. From the first flight on the hard sand of Daytona Beach in 1906 to the epicenter of manned space flight at Kennedy Space Center, to a fateful day in November 1963 when a 61-year-old man named Walter Elias Disney gazed out the window of his Gulfstream upon acres and acres of land and reportedly said, “That’s it,” — Florida has attracted those who dare to dream and dream big. With the myriad opportunities in the Sunshine State, growth has been as reliable as its warm weather. Florida is rapidly closing in on No. 3 in the nation for the most populous state, at nearly 20 million residents, and state and business leaders are tackling the issue of growth head on. Jacob Stuart, president of the Central Florida Partnership, encompassing a seven-county region, has brought community leaders together to address critical issues impacting the state’s

DECEMBER 2014 • FORWARDFLORIDA.COM

Henry Morrison Flagler (1830-1913), a visionary who transformed Florida.

future quality of life, including transportation, water (Page 22) and homelessness (Page 15). In 2010, the Florida Department of Transportation (FDOT), under the leadership of Gov. Rick Scott, released the 2060 Transportation Plan. “We’re getting engaged at a much earlier stage to understand where the growth is projected to happen and ride that elevator from the ground floor,” said outgoing Secretary of Transportation Ananth Prasad. “Our focus on creating an economy not solely relying on the service industry and tourism, and focus more on manufacturing and building things in Florida. Where is that going to happen? Which of the ports are going to play a part in it and how do we make that movement of goods and commerce take place,” he added. One of the first initiatives to address ANANTH PRASAD growth was the Shared Growth Vision for Central Florida, “How Shall We Grow?” An 18-month campaign, led by myregion.org and other public, private and civic partners in 2006 to 2007, it involved 20,000 Central Florida residents and examined how to grow the region through 2050. Four key themes emerged: Conservation, Countryside, Centers and Corridors. TRANSPORTATION HISTORY*

During the period of Reconstruction (1865-1877), Floridians found themselves cut off from the rest of the country. Florida had few roads and needed to build more railroads. Unfortunately, the state was in debt from the Civil War and had no finances with which to expand. Northern businessmen, however, did have money and saw investment opportunities in Florida. In 1881, a man by the name of Hamilton Disston bought 4 million acres of land from Orlando

Early days of locomotives.

to Lake Okeechobee for 25 cents an acre. This single investment helped get Florida out of debt and back on the road to building. A year later, Henry B. Plant, began building railroads throughout the state. He also connected Florida to Georgia, which opened the way for interstate trading and travel. An entrepreneur by the name of William Chipley built railroads that linked the Panhandle region with the rest of Florida. This enabled the goods being shipped to the Pensacola ports to be sent to the rest of the state by rail. Henry Flagler settled in St. Augustine, where he built its first big hotel, the Ponce de Leon, the most luxurious of its time. To encourage people to visit, he built railroads to help connect St. Augustine and Daytona Beach to railways that could bring guests all the way from New York. Flagler also developed the resort town of Palm Beach and connected it, of course, by railroads. By 1900, Florida had more than 3,000 miles of railroad and its transportation problems had been solved. With a population of 529,000, its economy thriving, Florida’s growth had only just begun. BACK TO THE FUTURE

The Future Corridors initiative, led by the FDOT, plans for the future of the major transportation corridors critical to the state’s economic competitiveness and quality of life over the next 45 years. This initiative builds upon the 2060 Florida Transportation Plan and Prasad’s “Florida’s 21st Century Transportation Vision.” According to the Future Corridors website, in addition to an expected population increase of 37 percent by 2040, it is also anticipated Florida will experience a 44 percent increase in visitors by 2040 and a 39 percent increase in freight tonnage by 2035. By definition, a statewide transportation corridor is one that connects Florida to other states or connects broad regions within Florida, generally by high-speed, high-capacity transportation facilities, such as interstate highways or other limited-access

W FORWARDFLORIDA.COM 35

LAND DEVELOPMENT | CORRIDORS OF GROWTH

EAST CENTRAL FLORIDA CORRIDOR TASK FORCE DRAFT REPORT

roadways, major rail lines and major waterways. These corridors may also involve multiple modes of transportation, as well as other linear infrastructure such as pipelines and telecommunications or utility transmission lines. Florida’s Future Corridors initiative focuses on two approaches: • Transforming existing facilities in a corridor to serve a new function, such as adding tolled express lanes, truck-only lanes, or bus rapid transit systems to an existing highway, or adding passenger service to an existing freight line. • Identifying study areas for potential new parallel facilities to provide alternatives to existing congested highways or potential new corridors for multimodal facilities in regions not well served by statewide corridors today. In advancing this initiative, Gov. Scott signed executive order 13-319 on Nov. 1, 2013, creating the East Central Florida Corridor Task Force. The first pilot study looks at emerging economic activity centers in portions of Brevard, Orange and Osceola counties. The task force consists of 13 members representing local governments, private landowners, economic development, environmental and agricultural professionals who met for seven months and heard from stakeholders and leaders in the study area. Their action report was delivered to Gov. Scott on Dec. 1. TASK FORCE RECOMMENDATIONS

The task force faced some sobering statistics from the outset. Travel on the five major cross-regional routes was likely to double in the next 45 years, to as much as 2.6 million daily trips. The group’s solution: start working now to enhance the existing routes, in many cases making them multimodal, and quickly begin examining possible new north-south and east-west routes in the area. Among the group’s key recommendations: • Develop State Road 528 (linking Orlando to the Space Coast) into a multimodal, multiuse “super corridor.” • Preserve the existing State Road 50/State Road 405 corridor from downtown Orlando and UCF to Cape Canaveral and

DECEMBER 2014 • FORWARDFLORIDA.COM

look at possible extensions along State Road 50. • Make multimodal improvements to the current State Road 417/Narcoossee Road corridor, focusing primarily on the area between U.S. 192 and UCF. The group also recommended studying two potential new east-west and north-south corridors. One east-west option is to develop a new multimodal corridor along the Orange/Osceola County line, linking Orlando International Airport and Lake Nona to the State Road 520 Corridor. The other is to develop a multimodal corridor from the airport/Lake Nona to central/southern Brevard County. Looking at north-south, the first recommendation is extend the planned Northeast Connector Expressway north from the Osceola Parkway Extension to the State Road 528 corridor. A second option is to develop a new north-south multimodal corridor in eastern Orange and Osceola counties. “People do not realize the amount of growth coming to this subsection of the region. But my belief is these magnets are so strong between Medical City, Port Canaveral and south Brevard that it is going to move jobs and people into this area in ways that I don’t think we’re prepared for or understand yet,” said Shelley Lauten, co-founder of triSect and former president of myregion.org. “Development starts with demand. Central Florida is growing, and you have to decide what kind of development serves both current needs and the needs of the future, and encourage that development,” said Aaron Gorovitz, partner and co-chair of the land use and zoning group at Lowndes, Drosdick, Dostor, Kantor & Reed and retiring chairman of the Central Florida Partnership. His practice area has not had a down year from 1983 to 2006. After 2008 he experienced a modest slowdown, but sees a tremendous upturn in activity at present. Prasad stated it simply. “We’re a state where people want to come. We need to be responsible on how that growth will happen.” *FLORIDA CENTER FOR INSTRUCTIONAL TECHNOLOGY, COLLEGE OF EDUCATION, UNIVERSITY OF SOUTH FLORIDA

SPONSORSHIP OPPORTUNITIES AVAILABLE!

SELECTED SPEAKERS

ECONOMIC DEVELOPMENT

Nathan Rachels

John Doggett JD MBA

Inland Securities Corporation

University of Texas

Kendall Almerico

Thomas K. Sittema

Fund Hub

CNL Financial Group

THE SUPER REGION

LAND DEVELOPMENT | FINANCING

It’s not the Wild West of pre-2008, but real estate development money is flowing again.

etting a handle on what drives Florida land development is much like finding the beginning of a circle. Where does it start? Is the prospect of profitable development moving money into the state or is the availability of financing driving development? Any way you look at it Florida continues to attract developers and financing. Prospects for the coming years continue to be guarded but bright. “Florida still remains a Sun Belt growth state so the long-term prospects for real estate remain good,” says Guy Michel, senior vice president of Community Southern Bank. “As the financial industry continues to recover, so will the availability of funding for projects subject to higher underwriting standards and cooperation from the regulatory authorities.”

DECEMBER 2014 • FORWARDFLORIDA.COM

The economic downturn of 2008 brought Florida eighth and 10th years. Assignment provisions make development to a standstill. Financing vanished as these loans especially attractive to qualified lenders abandoned real estate for the bond market. purchasers. Bonds offered less risk, and even less of a return, but More out-of-state financing is available as CMBS the fear of lenders becoming landlords of existing lenders (commercial mortgage backed securities) developments or landowners of stalled projects led provide better rates than life companies. But as to a hasty retreat. With improved economic securities, the projects are pooled together conditions, lenders have returned to with others. Only the crème de la crème of Florida. The hot markets are South Florida developers pursue this route as strict followed by Orlando, Tampa and underwriting leaves nothing to question. Jacksonville, in no particular order. The prepayment provision is defeasance, a Broward County and West Palm Beach are costly and time-consuming process also making a push. whereas the lender replaces the real estate “While increases in interest rates are collateral with another investment product. expected, it is believed that the softness of But for the savvy developer looking at a the global economy has been a major long-term investment, rather than a flip, the impetus in bond yields staying at historirates are inviting. GUY MICHEL cally low levels,” says Edward Isola, prin“Owner occupied with a good credit cipal at Isola & Associates, LLC, corretenant has the lowest risk. Right now multispondent for more than a dozen life family is a pretty low risk play but that insurance companies. “The lack of altercould change soon as that project type gets native investments for institutional overheated,” says real estate broker Patrick investors will push commercial real estate Mahoney, president and CEO of NAI loans at all-time levels for the upcoming Realvest. “Next I would say industrial. The year.” businesses utilizing industrial space are Developers with proven experience and mostly on solid footing. I would put office strength will continue to find financing. and retail pretty close to even.” EDWARD ISOLA Banks, many of which shored up their asset The U.S. Department of Housing and base following the downturn, are providing Urban Development and its Multifamily in-state financing options in short-term (3 to 5 year) Housing Programs are driving the multifamily loans with fixed and floating rates in the 4.00s and market while other lenders concentrate on indus5.00s for construction and mini-permanent loans. trial, retail and office. The Federal Housing For the right customer, banks will go out as far as 10 Administration insures the financing as the federal years. Developers enjoy the one-on-one contact government has taken the lead in ensuring the availwith a loan officer and favorable, if any, preability of affordable housing. The application process payment provisions. is time consuming with significant upfront costs to Michel says, “Today banks need to undercover due diligence but the availability of requested write the individual project, any and all other funds makes federal financing attractive to the expeprojects owned and operated by the guarrienced multifamily developer. antor, and need to evaluate the global cash Michel says, “Everybody likes owner-occupied flow of all various entities and personal real estate, but there’s only so much of it out there. I debt structure of the borrower. Too often, think beyond that it depends on the concentration in the old days, banks became the levels of the individual bank. Some of us have conunwitting ‘equity partner’ of the centrations in retail and are emphasizing office space developer in the project. Those days are in our business development efforts. Some of us have gone. Banks by and large are back to too much office and are looking for industrial space. providing financing, not equity, in Go figure.” projects.” Other financing options vary depending on niche. Life companies continue to diversify Small and start-up businesses are approaching banks a percentage of their asset base and for real estate and equipment loans through the SBA provide out-of-state financing sources (Small Business Administration) loan program. with fixed-rate long-term (10 to 15 to 20 Credit unions, pension funds and Real Estate years) loans in the low 4.00s to low 5.00s. Investment Trusts are gathering up what remains. The prepayment options aren’t as Hard-money lenders, private funds and individuals, favorable early on with penalties based are driving the bridge loan market. Though the rates on yield maintenance formulas subject to are north of 10 percent, developers are finding the loss of yield and others with preshort-term hard money lenders an expensive but dictable fixed prepayment premiums; available option when bringing a project to stabilihowever, many loosen restrictions by the zation before pursuing long-term options.

W FORWARDFLORIDA.COM 39

LAND DEVELOPMENT | FINANCING

in cash sitting on the sidelines that was pulled out of the equities market will continue to push real estate loans. The only hindrance will be the difficult credit and loan underwriting standards.” The other barometer is the 10-year U.S. Treasury yield. The yield has been in general decline since approaching 5.00 percent in 2006 and has remained south of 3.00 percent for the past four years. Many lenders determine rates based on a spread over the yield. Since 2012 when the 10-year briefly dipped below 2.00 percent, lenders have avoided the temptation to abandon real estate by fluctuating their spread to keep rates favorable to both them and borrowers. With spreads of 200 to 300 basis points lenders have kept competitive rates in the 4.00s and 5.00s. Mahoney says, “To hedge against another recession and falling commercial real estate prices lenders are requiring more equity with the belief that if they have to take properties back in the future they’ll be in better Not all funds are based on loans and collateral. shape. A 50 to 60 percent loan will be equal to or International investors, as cash buyers, are coming lower than the actual property value.” into Florida and snapping up residential and comUltimately, inflated values were blamed partly for mercial real estate. “A lot of foreign money is pouring the collapse of the real estate market in 2008 so the into the local luxury real estate (home) market and Fed instituted new guidelines on banks to eliminate there has been a lot of money from the cozy relationships between appraisers, (United) Arab Emirates (and Saudi Arabia) lenders and borrowers. Life companies are that has bought up a lot of distressed regulated by their respective states but are underperforming real estate,” says voluntarily drawing on the new guidelines appraiser Richard Best, principal and to shore up their lending practices. Rising managing partner of DeRango, Best & real estate values based on lower cap rates Associates. are the primary reason for higher equity Interest rates continue to drive the investments. market and while developers will moan at “Appraisals are still a challenge,” says the prospect of paying more than 5.00 Michel. “As a banker, you hold your breath RICHARD BEST percent, veterans of the industry recall the minute you send out the assignment. days when 10.00 percent was given only to Because sometimes you really don’t have a the strongest of developers. Florida hasn’t feel for the approach the appraiser is going seen rates north of 10.00 percent since the to take. In the post-collapse era, many of the early 1990s; in fact rates have remained appraisers are taking a more conservative steadily below the 5.00 mark for five years. approach to the valuation of property.” The Federal Reserve Board has played a But conservative values, higher equity large part in keeping rates low as the Fed and tighter underwriting don’t appear to be Funds Rate — the rate at which banks lend hindering the Florida market. The qualities and borrow amongst themselves — has that drove the market pre-recession remain held steady between 0.00 and 0.25 percent in place — no income tax, great weather, PATRICK MAHONEY since December 2008. The next meeting of family friendly environment, ready and the Federal Reserve Board’s Federal Open Market willing sellers. Though the market isn’t full boil, it Committee is Dec. 16 to 17 at which time it will concertainly isn’t simmering. With the lessons of the sider a rate change. past fresh in the minds of all parties, Florida real Best says, “Low borrowing costs and the trillions estate should continue to heat up and prosper.

DECEMBER 2014 • FORWARDFLORIDA.COM

SITE SELECTION HOW NORTHROP CAME TO THE SPACE COAST VENTURE CAPITAL WILL THE INVESTMENT SUN SHINE HERE? ENTREPRENEURSHIP THE YOUNG & THE RELENTLESS

REBIRTH NEW LIFE FOR AN EXPRESSWAY AUTHORITY MAKING WAVES BIG PLANS FOR STATE’S PORTS

Because businesses can’t afford to stand still. The world is growing and with it are opportunities. Our high-caliber editorial content is read by C-level executives across a multitude of industries. We cover economic development, pure and simple, along with important legislative issues.

ECONOMIC DEVELOPMENT IN THE SUPER REGION SITE SELECTION LAKE NONA: MEDICAL MAGNET

SPECIAL REPORT CRADLE TO CAREER

Who We Are:

Privately owned.

SUN, SAND + SUTURES NEW WAVE IN ECONOMIC DEVELOPMENT

Print circulation: 10,000 copies bimonthly. Audience: C-level executives and key stakeholders in the state

and nationally, site selectors nationally, legislators in Washington, D.C. and Tallahassee.

FF_Issue4_2014_printersingles.indd 1

SITE SELECTION WHAT’S TRENDING

9/10/14 4:39 AM

ECONOMIC DEVELOPMENT IN THE SUPER REGION

HEALTHBOX TOOLKIT FOR ENTREPRENEURS

Web Presence: Full digital version with separate web-exclusives.

EDUCATION ISSUE OCTOBER/NOVEMBER 2014

SEO-optimized articles. Active social media engagement on Twitter, Facebook, Google+ and LinkedIn.

UNIVERSITY OF CENTRAL FLORIDA

Call us or drop us a line for more information about advertising and promotional opportunities. 407-484-2016 // info@forwardflorida.com // www.forwardflorida.com.

LAND DEVELOPMENT | TRANSPORTATION

TR ANSPORTATION CIRC A

f you build it, will they come? When it comes to Florida the answer is absolutely. With a population approaching 20 million, the state’s ever-evolving transportation infrastructure will eventually connect new growth corridors across the state and the Super Region, the swath of the state from Tampa Bay to Orlando and east to the Space Coast. But what will this look like? Put away the crystal ball. In 2013, the Florida Department of Transportation’s (FDOT) Office of Policy Planning combed through economic development strategies from five regional organizations* to integrate and define long-term transportation priorities through 2060. “Growth happens so quickly here that traffic congestion seems to immediately follow,” says Ananth Prasad, outgoing secretary of the FDOT. “By understanding where future development is

DECEMBER 2014 • FORWARDFLORIDA.COM

likely, we can get engaged earlier and devise an effective game plan.” In the Tampa Bay to Central Florida Study Area Concept Report, the FDOT paints a portrait of probabilities. BLURRING THE LINES

As recently as 1990, the urban areas of Tampa Bay and Central Florida were relatively distinct. They’ve since expanded into a nearly continuous swath either bordering or close to I-4 — the heart of the Super Region. According to the FDOT’s report, 68 percent of the region’s population and 95 percent of its jobs are now concentrated within this belt. This megapolis will grow denser and more economically integrated in the years ahead. Other outlying pockets of development may join the mix. So where are we growing and, more importantly, how will we get there?

POTENTIAL REGIONAL CONNECTIVITY GAPS MAP FROM THE TAMPA BAY TO CENTRAL FLORIDA STUDY AREA CONCEPT REPORT

TILTING THE COMPASS

As the I-4 development corridor becomes ever more crowded, the growth pattern is shifting. Based on current trends, economic development organizations in the Super Region forecast the highest percentage of future development in portions of Polk County, the Suncoast area north of Tampa, the area to the southeast of Orlando, and Lake and Sumter counties, in addition to the established urban centers of Tampa and Orlando. The projected growth could add north and south branches to the region’s growth footprint alongside the east-west I-4 corridor. It could also result in transportation connectivity gaps to existing or emerging population and economic centers. These areas could include: • Southeastern Orlando to Southern Brevard County • Tampa to Citrus County • Suncoast Region to I-75 and Florida’s Turnpike • Polk County to Tampa Bay • Orlando to Lake and Sumter counties. CONNECTING THE DOTS

Today, I-4 is virtually the only highspeed trip option from Tampa Bay to Polk County, Polk County to Osceola and Orange counties, and Seminole County to Volusia County. Improvements are already scheduled to start in early 2015 (Page 19, “I-4 update”). Similarly, the Beach Line Expressway (SR 528) is the only highspeed route linking Orange and Brevard counties. Several proposals could provide a greater range of traffic options. However, many are being planned separately by independent agencies. Prasad wants a coordinated approach to planning and developing a multimodal system with improved connectivity. “We can’t bury our heads in the Florida sand. Governments, developers and environmentalists must collectively work together so transportation decisions can be made more effectively. The FDOT can’t drive the process, but we can get all the stakeholders to the table.” That includes the general public. Everyone is invited to participate in the FDOT’s Transportation Visioning Summit in Orlando at the Walt Disney World Dolphin on Dec. 17. It’s the kickoff to the agency’s update of the long-range Florida

Transportation Plan and the Strategic Intermodal System Plan to implement the network of transportation facilities most critical to Florida’s economic competitiveness. “Moving forward, we expect the state’s economy to begin relying less on service industries or tourism and more on manufacturing,” says Prasad. “This requires a different set of transportation priorities.” And as the scope of shipping via Florida ports increases, other unique logistical needs must also be considered. “We have to determine what role each port will play and how we can best help them move goods and cargo.” TOMORROW’S ROAD MAP

As existing and new development clusters grow, cities across the Super Region are becoming more economically integrated. Regional planners are looking to seamlessly integrate outlying economic centers with smaller ones closer to home, while also satisfying landowners and safeguarding the environment. The FDOT wants to connect it all in a way that makes sense for everyone. “Florida is a very tax-friendly state with a great climate where people want to live, so it will continue growing,” says Prasad. *CENTRAL FLORIDA REGIONAL PLANNING COUNCIL COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY, 2012; EAST CENTRAL FLORIDA REGIONAL PLANNING COUNCIL COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY, 2012, SOUTHWEST FLORIDA REGIONAL PLANNING COUNCIL COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY, 2012, TAMPA BAY REGIONAL PLANNING COUNCIL COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY, 2012, WITHLACOOCHEE REGIONAL PLANNING COUNCIL COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY, 2012.

THREE TAPPED FOR TRANSPORTATION On Dec. 2, Gov. Rick Scott announced that Florida Department of Transportation Secretary Ananth Prasad would resign, effective Jan. 2. Since his appointment in April 2011, Prasad grew the agency from a $7 billion to a $10.1 billion operation as part of the governor’s push to expand the state’s transportation infrastructure. In a statement, Scott praised Prasad’s commitment to making Florida a major player in international trade. Also, the governor named Jay Madara, chief financial officer of the Golf Channel, and Shawn “Michael” Scheeringa, chief executive officer of BBA Aviation Flight Support to the Central Florida Expressway Authority. The expanded, nine-member board was created by the Legislature in July to replace the former Orlando Orange County Expressway Authority. He also selected retired Disney Destinations Senior Vice President Julian “Ed” Fouche to the Greater Orlando Aviation Authority Board of Directors, which oversees Orlando International Airport.

W FORWARDFLORIDA.COM 43

LAND USE | Q&A

NEW RETAIL REALITIES FORWARD FLORIDA: GIVEN ALL THE NEWS OF RETAIL DEVELOPMENT AND REDEVELOPMENT ACROSS THE REGION, WHAT DO YOU SEE? JOE KOLB: Most of the opportunities we are seeing are on the redevelopment side, usually retail centers that are already well performing. We add square footage or enhance them in other ways to improve revenue stream for owners. These are low-risk opportunities because they’re stable assets that are just tweaked to add a little more ROI. A good example would be what we’re doing at the Lake Buena Vista Crossroads. The center performs very well and it’s right next to Disney. The restaurants there do phenomenal business because of their location. We figured out a way to add GLA [Gross Leasable Area] to their center — adding even more restaurants. That’s the kind of development opportunities we’re seeing.

FF: ANY OTHER RETAIL TRENDS? JK: Another retail trend is how retailers such as Florida Mall are changing their centers to suit their guests’ needs. For years Florida Mall had the luxury-shopper market with Saks Fifth Avenue then Lord and Taylor, but the location makes it more of a tourist destination. When luxury-shoppers migrated to other destinations like Mall at Millenia, Florida Mall redeveloped by re-tenanting anchor space with trendy brands like Zara and American Girl. The Saks box is becoming a 105,000-square-feet restaurant district. When Nordstrom’s moved out, they quickly filled the anchor space with Crayola Creation, a unique entertainment destination, and Dick’s Sporting Goods. All of these changes add appeal to their target demographic. This redevelopment is all about transforming a location to better relate to the needs of the customers, thereby increasing revenue.

DECEMBER 2014 • FORWARDFLORIDA.COM

From retail revitalization to neighborhood nurturing and all the planning in between, VHB’s Jim Hall and Joe Kolb are thought leaders in “place making.” JIM HALL

Jim Hall, director of planning and urban design for VHB, has more than 30 years of professional experience. Nearly the same goes for Joe Kolb, VHB’s director of land development. Each plays a significant role in the firm’s core areas of improving mobility, enhancing communities, and balancing development and infrastructure needs with environmental stewardship. As such, both help to shape the look and feel of a region that is enjoying resurgent growth on numerous fronts.

JOE KOLB

Florida Mall is an example of a location transformed into something new that registers even better numbers and better relates to the needs of its customers.

narrower — the economic return to the businesses can be from 20 percent to well over a 100 percent increase in sales if the street is done right. If you put a trail through a community, the average lot price goes up $3,000 to $7,000 per lot. When you start doing these place-making features, the economic return is significant.

FF: AS DEVELOPERS AND URBAN DESIGNERS CHANGE THE WAY THEY APPROACH PROJECTS, HOW ARE MUNICIPALITIES REACTING?

CODES AND PERMITTING FF: CREATING PLACES, OR PLACE MAKING, WHERE PEDESTRIAN TRAFFIC IS PROMINENT IN DESIGN, ALSO APPEARS TO HAVE BECOME POPULAR IN LAND DEVELOPMENT. WHAT ARE THE DYNAMICS THERE? JIM HALL: We’ve seen a strong trend toward improving pedestrian traffic and providing more transit options in many of our redevelopment projects. We add these elements by introducing the “complete streets” policy, which includes pedestrian and/or bike facilities in tandem with vehicle lanes. If you just change the street, it doesn’t necessarily change the habit. You have to change the land use. You have to change the building form. You have to do it all. For example, if you made State Road 50 [a major thoroughfare in Orlando] narrower, but the city didn’t require pedestrian-oriented, complete-street redevelopment, that narrowing still wouldn’t work to create pedestrian traffic. We’ve done research on complete streets and road diets — make the street

JH: Municipalities are getting it. Orange County is redeveloping its land development codes. They’re lessening the importance of the actual land use and increasing the importance of the form of development. The actual use that goes into the building isn’t as important if you’ve created the right environment. Orange County is realizing it’s home to a lot of great urban places; it’s just not a suburban place anymore. This is being done at select locations, and it’s also being done on International Drive to make it more and more urban. (Page 11). Altamonte Springs is doing the same thing. Officials picked out five spots of the city that are what they call their “activity centers.” VHB just helped Altamonte Springs rewrite its code for those five areas as a different type of code than the rest of the city. It’s a form of development-type code rather than a land-use-based code.

FF: WHAT ARE YOU SEEING DOWN THE ROAD AS FAR AS TRENDS IN DEVELOPMENT? JH: Location is still paramount along with development form. Properties like the land between the

Econlockhatchee River and Chuluota Road in east Orange County that have been left behind for decades are now in the mix to be considered for development. (Page 19, “Where’s the Beef?”). At Chuluota Road and Colonial, you’ve got 50-foot lots, a Publix, two schools and a McDonald’s. But for three quarters of a mile back west to the Econ, you have cows and one unit per 10 acres. It doesn’t make any sense, but it is a big political fight. If you take the emotion out of it; it makes economic sense to allow the appropriate form of development to occur there. In west Orange County, Horizon West is doing so well. This 20,000-acre area was all planned at once with development form as the guiding principle. Now the Wellness Way Sector Plan was just transmitted to the state in Lake County. It’s 16,000 acres next to the State Road 429 and the new interchange, Independence Parkway. It is a mix of land uses guided by development form principles keyed to jobs to housing ratios, required pedestrian orientation and a trail network for active recreation.

FF: THERE HAS BEEN A LOT OF TALK ABOUT “HEALTHY” COMMUNITIES. WHAT IS THEIR IMPACT ON DEVELOPMENT? JH: A strong component of Healthy Community design is the need to have activity available right there in the neighborhood. You also need to have reliable sources, not just fast-food restaurants. There must be access to healthy food readily available to the community. There need to be places for the community to interact socially, so that it starts to feel like a place. It’s not just physical health, it’s spiritual health and mental health as well. A school is a great gathering place. When you have kids, the school is the magnet where the community gets to know each other and talk, discuss what’s going on in the community. The more you know of what’s going on in the community, the safer the neighborhood. Add in some active recreation, at least walking, and a true neighborhood form starts to come together. EDITOR’S NOTE: VHB’S TEAM OF ENGINEERS, SCIENTISTS, PLANNERS AND DESIGNERS PROVIDES CONSULTING SERVICES TO CLIENTS IN THE TRANSPORTATION, REAL ESTATE, INSTITUTIONAL, AND ENERGY INDUSTRIES, AS WELL AS TO FEDERAL, STATE AND LOCAL GOVERNMENTS. VHB PARTNERS WITH CLIENTS FROM 22 OFFICES ALONG THE EAST COAST TO IMPROVE MOBILITY AND ENHANCE COMMUNITIES. [VHB.COM]

W FORWARDFLORIDA.COM 45

special report |

timely and topical

The Walt Disney Theater is the Dr. Phillips Center for the Performing Arts’ largest venue, seating 2,700-plus people and offering exceptional sight lines. In all, the 330,000-square-foot center consumes two blocks in downtown Orlando.

DECEMBER 2014 • FORWARDFLORIDA.COM

THAT IS THE QUESTION.

he arts have always been an important part of any culture. The arts allow expression in an individual’s work while providing endless wonder and entertainment for patrons who love the work being produced. They take all forms, too — from painting, drawing and sculpting to plays, songs and dance. Arts are the color of pleasure. Yet, their creation is something we often take for granted. Artists spend countless hours perfecting their creations for all of us to enjoy. And, consequently, those works should be protected. Fortunately they are. Indeed, as is the case with most inventions and ideas, the arts are protected against those who seek to profit from another’s diligent efforts. Through the application of intellectual property laws, artists can continue to profit from their own hard work. Attorneys, of course, have always been mindful of those facts. That’s their job. At the same time, there are events that raise awareness even higher — like the opening of an arts center. The Dr. Phillips Center for the Performing Arts is Orlando’s newest showcase of extraordinary expression from our most creative citizens. The state-of-the-art facility, opened Nov. 6, has already started a reinvigoration of artistic spirit in Metro Orlando, complemented by two other downtown venues: Amway Center and the renovated Orlando Citrus Bowl.

W FORWARDFLORIDA.COM 47

special report |

timely and topical

The performances housed in the new arts center raise a legal question: Can the creativity be copyrighted?

The debut of a new attraction is clearly recordings, drawings, photographs, an exciting time for anyone — but few are sculptures, and television and radio more excited than Ava Doppelt. broadcasts can be the subject of copyright A highly experienced lawyer from protection. Even the choreography of a Allen, Dyer, Doppelt, Milbrath, & ballet can be copyrighted. Gilchrist, a firm dedicated to intellectual “A lot of the beauty in art is the property with offices throughout Florida, expression that comes from something she is also a longtime supporter unique. However, it should be of the area’s performing arts. noted that the expression, not a Doppelt served as president of style or type of art, is eligible for the Orlando Ballet until July 1 copyright,” she says. and continues as chairwoman. “The dialogue of a play can The center’s opening, be copyrighted,” she continues. Doppelt says, represents a signif“Musical numbers have the icant time for Orlando, helping potential to be granted a copyto raise the city’s status as a right, as can original backculturally enriched region. She ground music. A choreographed describes the completion of the dance routine could qualify. Set AVA DOPPELT performing arts center as a designs and costumes could all “class act” from everyone involved. Her fall within the protection of the assessment: “The cooperation between Copyright Act.” donors and benefactors is a great example But how to protect? The sheer amount of cooperation between private and of music produced and played daily public interests. The City of Orlando seems like a difficult endeavor to properly secured a prominent spot for the Dr. monitor. For example, how does someone Phillips Center, making the center a receive appropriate compensation if a cornerstone of downtown Orlando, both song he or she owned was played around during the day and evening.” the nation or across the world? Its opening also marks another passion Doppelt points to the nonprofit perfor her — copyrighting. forming rights organization American “The most visual and performing arts Society of Composers, Authors and are available for protection, usually copyPublishers, better known as ASCAP. right,” she says. “A copyright is meant to ASCAP is essentially a designated protect original expression, in contrast to middleman between music creators a patent, which protects how things and music broadcasters. ASCAP’s work. It’s extremely common to find responsibilities include monitoring public copyright notation or symbols on novels, performances of music under their but copyrights extend far beyond works copyright umbrella and receiving the of literature. Poems, plays, sound collection fees from the broadcasters.

DECEMBER 2014 • FORWARDFLORIDA.COM

After collection, ASCAP then sends the creators their proper royalties. This set-up is intended to help simplify the collection fees. Without ASCAP, copyright holders would be largely responsible for billing broadcasters the royalties they were owed, while broadcasters would be responsible for paying royalties directly to every creator for every piece of music they broadcast. ASCAP helps this cause by simply collecting and distributing all the money through one single organization, thereby simplifying one of the more complex situations of copyrighted material, she explains. Two others are the Society of European Stage Authors and Composers and Broadcast Music Inc. In addition, Doppelt cites that building designs are copyrightable, if the architecture features enough of a unique flair — as in Orlando. “If you’ve seen the Dr. Phillips Center since its completion,” she says, “it’s likely that you’ve recognized it as a fairly unique venue. Lead architect Barton Myers’ work would clearly qualify.” So consider this: The Dr. Phillips Center for the Performing Arts is a wonderful addition to Central Florida, adding immeasurable sophistication and entertainment to Orlando’s culture. At the same time, remember that while the arts in all forms have always been a wonderful avenue for self expression, thanks to copyright laws — and copyright lawyers — that unique and profitable creativity remains protected.

social entrepreneurship |

building community

here is an enduring myth in the public that nonprofits are like second-class citizens. The for-profit

business sector has all the answers, and charities should learn from them. While it’s true there are definite skills that organizations serving society can learn from the business community, there are also ways of doing things that businesses can learn from nonprofits.

MISSION FOCUS

Most charitable organizations live and breathe their mission. Nonprofits incorporate their mission into much of what they do and present it to their audiences internally and externally. Focusing and routinely communicating their mission enables nonprofit organizations to consistently convey their work to their supporters. This, in turn, helps build the brand, attract supporters and obtain resources, including financial, to help them continue their work.

RELATIONSHIP BUILDING In order for nonprofits to execute their mission, they need money. The key way for them to obtain money is to develop productive and ongoing working relationships with donors. Nonprofits don’t have the financial luxury to have their supporters maintain only a once a year or cursory relationship with them. Therefore, charitable organizations are always looking for ways to keep in touch with donors and maintain an ongoing emotional connection with them that will lead to continued and repeated support.

WORKING WITH LIMITED RESOURCES

Nonprofits seldom (never) have enough resources. Typically, the more money and resources they obtain, they turn around and work to expand and grow their work to scale — but the need is usually much greater than what the organization can offer to eradicate a societal issue. So, there is always more to get done. That said, most nonprofits contend with small budgets and do incredible work with limited money. They innovate ways to accomplish their objectives with limited money and staff.

LONG-TERM SUSTAINABILITY

Particularly in today’s world, businesses have increasingly gotten into the habit of looking almost exclusively at short-term profits. However, the long term is important. Nonprofits tend to look at building sustainability in the long term. In order to accomplish their mission, they are aware of having to raise their annual monetary goal. However, at a strategic level, nonprofits are equally concerned and driving toward ensuring their longterm sustainability.

TEAM

Most people don’t enter the nonprofit sector to make big money. In fact, nonprofit professionals are paid up to 25 percent less than their for-profit counterparts. Nonprofits are aware of this fact, and they work to provide their employees with a sense of team and purpose. They seek to provide their staffs with other incentives and motivators to keep them engaged and working hard to accomplish organizational goals and objectives.

It is a fact that around the world, people are demanding companies and businesses act in a more socially responsible manner and not simply pay it lip service. In response, companies are incorporating this awareness into their business models, and customers who are purchasing their goods and services versus their competitors are rewarding them. If the for-profit sector wants to be even more successful at getting people to notice their commitment to social responsibility, they should look to their nonprofit peers, who have been doing this far longer than them. EDITOR’S NOTE: WAYNE ELSEY IS THE FOUNDER AND CEO OF WAYNE ELSEY ENTERPRISES, AUTHOR OF THE BOOK, “ALMOST ISN’T GOOD ENOUGH,” AND FOUNDER AND FORMER CEO OF SOLES4SOULS. [NOTYOURFATHERSCHARITY.COM]

W FORWARDFLORIDA.COM 49

special report |

timely and topical

Successful businesses still need them.

he older we get the more some of us realize just how little we know. We understand the value of learning new things (and perhaps have even been “humbled” by a few challenges at this point in our lives). In business — especially small-tomidsize businesses — owners may not always have access to the resources they need to take their companies to the next level on their own. While there are many educational workshops sponsored by local, state-funded workforce agencies and organizations like the Small Business Administration (SBA) and the Small Business Development Councils (SBDC) — there are few mentoring programs that cater to the more advanced business owner. So what about the small business that has been serving the local community for years — those that have a business model showing sustainability and measurable profit? Where do they go for support? When you’ve been in business for at least a handful of years and know how to survive in a tough economy, the level of mentoring you need isn’t tied to the basics. For a second-stage business (typically as many as 100 employees and between $500,000 to $50 million in revenue), your challenges may lie in figuring out how to further diversify your revenue streams, perhaps how to more efficiently manage your accounting and HR functions, or how to create a near-term succession plan or exit strategy. Perhaps you need legal expertise on how to best position your business to better address recent changes in LLC laws. Or maybe you simply

DECEMBER 2014 • FORWARDFLORIDA.COM

IGNITE grads: Jeanne Whitman, owner of Achieve Beautiful Skin, and Sherri AkanforaRuohomaki, owner of K-9 Kampus, both based in Melbourne.

Women’s Business Center to Open in Orlando The Florida Tech Women’s Business Center will be opening its first Orlando office in early 2015. The location of the new office will be announced in January and will serve business owners in Orlando and surrounding counties with unique resources and tailored mentoring programs for first, second-stage and advanced businesses. Beth Gitlin has been named executive director for all of Florida Tech’s Women’s Business Centers (Orlando, Melbourne and Rockledge locations) and will lead strategic partnership and fundraising activities for the organization. Wanda Lipscomb-Vasquez has been named director of the Melbourne and Rockledge centers and will focus on developing unique programming at these locations.

don’t know where to start when it comes to refreshing the marketing of your products and services to better address today’s fickle, impatient, electronically based marketplace. MENTORING ISN’T JUST FOR NEWBIES

In Central Florida, we are beginning to see a new type of mentoring program — one tied to more advanced-staged businesses — and they are showing some serious benefits. At the Florida Institute of Technology’s Women’s Business Center for example — the “IGNITE 360” program was developed specifically for growing businesses. With locations in Melbourne and Rockledge, the program is different than most offerings, but the results have been remarkable. IGNITE 360 MENTORING

“The concept behind the IGNITE 360 program is to focus on companies that are committed to moving to the next stage of growth, development and profitability,” said IGNITE 360 Director Jeannette Kraar. “To date, we’ve worked

with 21 companies that range from three to 30 years and have as many as 50 employees. In the two years the IGNITE program has been in existence, clients have seen an average 30 percent increase in revenues, 47 percent increase in job creation and at least 25 percent increase in margins.” To date, the IGNITE 360 program has assisted owners of businesses tied to everything from family counseling to boat sales, government engineering contractors to public relations agencies. Depending on the business model, IGNITE executives select a senior team of mentors (typically three to four mentors and a facilitator) that have specialty areas of expertise and are able to address to unique needs of that particular company. At the beginning of the intensive six-month process, mentors meet with the company principal(s) to review existing business and marketing plans, determine near and long-terms goals for the company and begin to develop stepby-step action plans to meet those intended goals.

BETH GITLIN

WANDA LIPSCOMBVASQUEZ

“The business owners that participate in IGNITE are serious about achieving the next level of business growth,” said Women’s Business Center Executive Director Beth Gitlin. “There was a real gap in the marketplace for advanced mentoring geared toward second-stage companies and we are so pleased to help fill that niche.” WHAT DOES ADVANCED MENTORING LOOK LIKE?

The Florida Tech Women’s Business Center assigns an “advisory board” to each mentee company/business owner. These teams meet monthly to discusses objectives, create a strategy for growth and develop an action plan tailored to the participating business owner’s specific needs. Small businesses are the economic engine of our country. Providing ongoing ways to support them is critical to increasing new jobs and spending in our communities. EDITOR’S NOTE: FOR INFO ABOUT THE WOMEN’S BUSINESS CENTER OR THE IGNITE 360 PROGRAM VISIT WBC.FIT.EDU/MENTORING.

W FORWARDFLORIDA.COM

global pulse |

international news

ampa Bay/St. Petersburg hosted the prestigious BLUE OCEAN FILM FESTIVAL & CONSERVATION SUMMIT, Nov. 3 to 9. The international nonprofit’s mission — to promote conservation of oceans across the globe. Ocean leaders, filmmakers, photographers, scientists, explorers, entertainment executives, along with the general public, came together to screen more than 100 films, host industry events and conduct conservation summits. This event alternates each year between St. Petersburg and MONACO. While most of the activities were open to the public, a private “Blue Tie” reception was held at the Dali Museum hosted by the Monaco Government Tourist Office and the Consulate General of Monaco (N.Y.), along with the BLUE summit, to promote next year’s event in Monaco, which will take place Nov. 7 to 9, 2015, in partnership with The Prince Albert II of Monaco Foundation and the Oceanographic Museum of Monaco. “We believe this strategic collaboration has great potential to keep raising awareness worldwide about the need for ocean stewardship,” said Debbie Kinder, co-founder of BLUE. “The power of film can help carry this very meaningful message around the globe to help win over hearts and minds. We are very grateful to HSH Prince Albert II and the Principality of Monaco for understanding and supporting BLUE’s mission,” she added. Oscar winner JEREMY IRONS, in town to screen his ocean pollution documentary Trashed, attended the “Blue Tie” reception on Nov. 10 to coincide with the opening of the Picasso/Dali, Dali/Picasso exhibit at the museum. Both artists spent considerable time on the French Riviera and Monaco. One special award winner during the BLUE festivities, 92-year-old Dr. Eugenie “Genie” Clark, a world-renowned marine scientist and founding director of Sarasota’s Mote Marine Laboratory in 1955, was one of three recipients of the 2014 Legacy Awards. Known as “The Shark Lady,” Clark is a pioneer in marine science and has conducted 82 submersible dives and 7,000 scuba dives during her career, which is still going strong. She is in good company as past Legacy winners include James Cameron and Captain Joe Walsh. Total attendance was estimated at 20,000 for the six-day event providing St. Petersburg “toast of the town” status for the upscale international crowd. Economic impact from hotel nights, restaurants and retail created a definite ripple effect. PHOTO COURTESY OF BLUE OCEAN FILM FESTIVAL FROM THE FILM “THE LAST OCEAN”

DECEMBER 2014 • FORWARDFLORIDA.COM

And while on the subject of blue — enter azul, the Portuguese word for the color. AZUL BRAZILIAN AIRLINES launched daily service on Dec. 15 between Orlando and São Paulo and began flights from Fort Lauderdale on Dec. 2. The third-largest Brazilian carrier will use Airbus A330-200 wide-body aircraft. U.S. travelers will fly in and out of Azul’s new $1.5 billion terminal at the São Paulo/Campinas airport.

São Paulo, home of Azul Brazilian Airlines.

Snowbirds and Nest Eggs

With Canadian snowbirds perched for “flights” to Florida for the winter, RBC BANK announced new business banking services geared to Canadian clients conducting business in the United States. The new services include no-fee transfer of funds and online account management. “At RBC Bank, we are proud to offer a new package that streamlines this process of cross-border business while providing the dedicated, personalized support and service of the RBC Bank team,” said Eva Kang, business banking segment manager at RBC Bank. RBC operates 88 branch locations in Florida with more than half located in the Super Region.

International Economic Development Conference The 2014 INTERNATIONAL ECONOMIC DEVELOPMENT CONFERENCE was held in late October in Fort Worth, Texas and Sunshine State rays were shining down. ENTERPRISE FLORIDA was honored with an IEDC Silver Award for its marketing campaign: “Florida. The Perfect Climate for Business.” The $1.4 million campaign won in the category, Best Paid Ad Campaign for communities with populations of more than 500,000.

Yet again, while still on the subjects of blue and Brazil — a $60 million fiber optic cable construction is underway linking Florida to Brazil, courtesy of Google. The undersea venture also includes Brazilian company ALGAR TELECOM and African operator ANGOLA CABLES and will stretch 6,560 miles linking the Brazilian cities of Santos and Fortaleza with Boca Raton. It is expected to be complete in late 2016.

The RESEARCH PARK AT FLORIDA ATLANTIC UNIVERSITY in Boca Raton received an IEDC Silver Award for excellence in economic development, for the second year in a row, selected from more than 560 international applicants. During the conference a new survey of the states having the best business climates was released. Conducted by Development Counsellors International (DCI) every three years, the survey called “Winning Strategies in Economic Development Marketing” tracks economic development trends since 1996. Florida ranked second in the nation, followed only by Texas. Georgia and North Carolina tied for third and rounding out the top five were South Carolina and Tennessee. Survey respondents cited tax climate, “pro-business environment,” incentives/ financial assistance and workforce quality/ availability. Best countries for international investment opportunities were CHINA, UNITED KINGDOM, GERMANY, INDIA and BRAZIL. The survey also found that nearly half of the corporate executives who participated in the survey indicated their firm would make a location decision in the next 24 months — a move, expansion or consolidation of a manufacturing plant, office, distribution center or other facilities. And 40 percent stated they would retain a real estate broker or site selection consultant for a portion of the site selection process.

W FORWARDFLORIDA.COM 53

wellness |

your personal bottom line

Heart disease is often fatal. And preventable.

eart disease is a real killer. According to the Centers for Disease

Control and Prevention, heart disease is

the No. 1 killer in the United States, causing death to an estimated 600,000 people annually, even outpacing cancer in the most recent official data available. Also, each year heart disease kills more women than men; plus it kills more women than breast cancer and lung cancer combined, making it the leading cause of death among women. There are numerous reasons for such destruction. Most notable is that while the heart is essentially a pump, the blood it pumps carries all the vital materials that help our bodies function. If the heart stops pumping blood, the body begins to shut down and will die after a short time. Ironically, almost the same simplicity applies to prevention. Fact is, it’s never too early to learn how to prevent heart disease and heart attacks. In fact, the American Heart Association recommends beginning the process at age 20. You can start by knowing your risk factors, as well as the symptoms and warning signs of a heart attack. Understanding those factors, symptoms and signs can help reduce risk and save lives, perhaps your own.

DECEMBER 2014 • FORWARDFLORIDA.COM

What you can do ♥ | ELIMINATE SMOKING ♥ | EXERCISE 30 MINUTES A DAY MOST DAYS OF THE WEEK ♥ | REDUCE ALCOHOL CONSUMPTION AND STRESS WHEN POSSIBLE ♥ | EAT A LOW-FAT DIET RICH IN VEGETABLES, FRUITS AND HIGH-FIBER FOODS

Risk Factors There are a variety of factors that contribute to a person’s chances of developing heart disease. Some can’t be changed; others can be modified or treated by altering lifestyle. ♥ | BEING AGE 65 OR OLDER ♥ | HAVING A FAMILY HISTORY OF HEART DISEASE ♥ | Being AFRICAN AMERICAN, MEXICAN AMERICAN, AMERICAN INDIAN, HAWAIIAN and sometimes ASIAN AMERICAN, in part due to higher rates of obesity and diabetes ♥ | BEING OBESE ♥ | SMOKING AND USING EXCESSIVE AMOUNTS OF ALCOHOL ♥ | HAVING HIGH CHOLESTEROL OR HIGH BLOOD PRESSURE

Heart Attack Symptoms ♥ | CHEST PAIN. While the most common symptom is chest pain, not everyone experiences it, especially women. Women often describe their chest pain as pressure, tightness or an ache. ♥ | SHORTNESS OF BREATH ♥ | SWEATING ♥ | PAIN IN ONE OR BOTH ARMS ♥ | NAUSEA, VOMITING AND INDIGESTION. One study showed women twice as likely as men to experience these three problems as symptoms of a heart attack. ♥ | BACK, NECK OR JAW PAIN ♥ | WEAKNESS ♥ | FATIGUE ♥ | DIZZINESS OR LIGHTHEADEDNESS

♥ | LACK OF PHYSICAL ACTIVITY ♥ | HAVING DIABETES MELLITUS ♥ | STRESS ♥ | EATING A HIGH-FAT DIET

Where You Can Get Help Becker’s Hospital Review has dubbed Florida Hospital as one of the top “100 hospitals with great heart programs” in the nation. Also, Florida Hospital is ranked among the tops in the nation for number of heart procedures each year, averaging 16,000 cases. Annually, the Florida Hospital Cardiovascular Institute manages more than 70,000 cardiac-related visits, including 25,000 patients who seek emergency care for chest pains and nearly 2,000 patients who must undergo some form of cardiac surgery. Since 1981, the institute has performed more than 82,000 open-heart procedures.

♥ | ANXIETY

W FORWARDFLORIDA.COM 55

keeping score |

business of sports

Stetson University campus in DeLand where two former baseball players helped the school (enrollment 4,100) accomplish a feat rivaled only by the mightiest of college baseball powers.

Two Stetson Hatters Baseball Alums Win Coveted MLB Awards

JACOB deGROM

COREY KLUBER

DECEMBER 2014 • FORWARDFLORIDA.COM

onsider for a moment college baseball’s most prestigious programs: USC, LSU, Texas, Arizona State, Cal State Fullerton and Miami. Between them, those six schools have 133 College World Series appearances, 37 national championships and scores of alumni who have played Major League Baseball. Of those, only mighty USC – with its record 12 national titles –pulled off what Stetson University in DeLand (enrollment 4,100) did last month when two former Hatter players — Jacob deGrom and Corey Kluber — captured major postseason MLB awards in the same year. DeGrom, now a Mets pitcher who began the season in the minors, on Nov. 10 won the National League Rookie of the Year award. Two days later, Cleveland Indians pitcher Kluber won the Cy Young Award as the American League’s best pitcher. For the record, USC did the trick in 1975 when former Trojans Fred Lynn (AL MVP) and Tom Seaver (NL Cy Young) were winners. Neither deGrom nor Kluber could be called upset winners, but the fashion in which they won their respective awards was a bit surprising. DeGrom captured 26 of 30 possible first place votes to run away with a Rookie of the Year title that was expected to be a bit closer. Meanwhile Kluber took 17 first place votes to narrowly defeat Seattle ace Felix Hernandez — a perennial favorite — for the Cy Young. A tip of the hat to both.

CITRUS BOWL RENOVATION. In

November, the Orlando Citrus Bowl reopened after a $207 million makeover that affected about 90 percent of the stadium. Upgrades include four decks with two concourses, 41,000 new chair backs, 6,000 club seats, a 20,000-squarefoot open-air deck, and an 88-foot wide, four-story tall video screen. The remodeled stadium’s first game was the traditional Florida Blue Florida Classic between Florida A&M and BethuneCookman on Nov. 22. It also will continue hosting the Russell Athletic Bowl and Buffalo Wild Wings Citrus (formerly Capital One) Bowl while adding the Auto Nation Cure Bowl after the 2015 season. And, the 2016 season will usher in a new tradition: the Orlando Kickoff game. The inaugural game, set for Labor Day, will feature Florida State and Ole Miss.

BOWLING FOR DOLLARS. If college

football has become big business — and few would argue otherwise — then the postseason bowl games have been a major driver of that business’ success. Florida looks to be both a giver and receiver in this increasingly lucrative process. Seven Florida bowls will pay a total of about $30 million to participating teams. The four Super Region bowls — Citrus, Outback, Russell Athletic and Bitcoin St. Petersburg — will chip in roughly $22 million of that total. As for the Capital One Orange Bowl and the other playoff bowls, the formula there is more complicated and payments go directly to the conferences. According a recent Business Insider article, the “Power Five” conferences (ACC, Big 12, Big Ten, Pac 12 and SEC), will receive $50 million each — even if they have no playoff team — plus $6 million per playoff team and $2 million travel money per playoff participant. The remaining five conferences also receive significant payments, which means additional revenue for UCF and USF. Most of this money is divided

equally among conference members. The three Florida Power Five schools (UF, Florida State and Miami) will receive about $3.6 million each. FSU ended the season ranked No. 3 and will play Oregon in the Rose Bowl on Jan. 1. The winner of that game will face the Alabama-Ohio State winner in the National Championship Game on Jan. 12. UCF will play North Carolina State in the St. Petersburg bowl, and UF will play East Carolina in the Birmingham Bowl.

UCF hopes 7’6” Tacko Fall towers over his opponents.

HORSES A HIT (S). The economic

benefits of some sporting events (think Super Bowl, NCAA Tournament) are obvious; others can come as a surprise. Count the Ocala-based Horse Shows in the Sun (HITS) in the latter category. Started by New York-native Tom Struzzieri in Ocala in 1982, the 10-week event set for January through March 2015 now has an economic benefit of $94 million and creates more than 900 jobs, according to an economic impact study commissioned by the California-based Sports Management Research Institute. One of nine HITS events around the country, the Ocala show generates significant tourist business for Marion County, with 84,000 room nights booked for the show and an average eight-person traveling party that spends almost $2,400 per day while visiting. More importantly, the show generates repeat business (85 percent who attend say they’ll return) and new residents (20 percent wind up buying real estate there).

MARCH MADNESS RETURNS. The

NCAA Men’s Basketball Tournament, which had a successful run in Orlando last March, is returning to the Amway Center in 2017. UCF, Stetson and the Central Florida Sports Commission will serve as official hosts of the first- and second-round games, which will tip off March 16 and 18.

EDITOR’S NOTE: AT PRESS TIME, UF HAD JUST ANNOUNCED THE HIRING OF COLORADO STATE’S JIM MCELWAIN AS THE GATORS’ NEW HEAD COACH. MCELWAIN WILL BE PAID AN AVERAGE OF $3.5 MILLION ANNUALLY. TO BUY OUT MCELWAIN’S CONTRACT, UF AGREED TO THE RICHEST SCHOOL-TO-SCHOOL PAYMENT IN NCAA HISTORY AND ALSO AGREED TO SCHEDULE A GAME AGAINST COLORADO STATE – WHICH COMES WITH A GUARANTEED $2 MILLION PAYOUT TO THE RAMS – BY 2020.

PHOTO BY STEPHEN M. DOWELL/ORLANDO SENTINEL

BIG CATCH. The nation’s tallest recruit is staying in the Super Region. Tacko Fall, a 7-foot, 6-inch player at Lake County’s Liberty Christian Prep., announced recently that he will play college basketball at UCF. Fall, a native of Senegal who came to the U.S. two years ago, credits the recruiting style of UCF basketball coach Donnie Jones as a deciding factor in his choosing the Knights over traditional powers like Georgetown and Wake Forest. How big an impact he will make remains to be seen, but here’s one possible indicator: Fall is four inches taller than any NBA player.

W FORWARDFLORIDA.COM 57

parting shot |

people and places

Frozen has been magical for the Walt Disney Co. Princesses Anna and Elsa have propelled it to the highest grossing animated film of all time and fifth-highest grossing film ever at more than $1.27 billion worldwide. The company experienced a record fiscal 2014 with revenue of $48.8 billion, and with the holiday season here, annual merchandise sales may exceed $1 billion in the United States alone. As a prelude to a planned Frozen attraction at EPCOT’s Norway Pavilion, Cinderella Castle will be “frozen” with 200,000 lights through Jan. 4. PHOTO BY MATT STROSHANE/WALT DISNEY WORLD

DECEMBER 2014 • FORWARDFLORIDA.COM

Looking for a competitive edge?

Through the Florida High Tech Corridor Councilâ&#x20AC;&#x2122;s Matching Grants Research Program, high tech companies partner with scientists from three worldrenowned research universities to develop emerging technologies. The result? A competitive edge that puts their businesses in the fast lane.

Accelerate

To learn how to your high tech business, visit

FloridaHighTech.com.

W FORWARDFLORIDA.COM 59

Florida Hospital is ranked the #1 hospital in the state of Florida for the second year in a row. And ranked nationally in ten specialties.

Cancer

Cardiology & Heart Surgery

Diabetes & Endocrinology

Gastroenterology & GI Surgery

Geriatrics

Gynecology

Nephrology

Neurology & Neurosurgery

Pulmonology

Urology

We thank you for trusting us with your care. We thank our clinicians for their commitment to excellence.

FloridaHospital.com/USNews MKTGPR-13-16401