The general hospital will be the first of its kind in Poinciana. Osceola Regional has submitted a Certificate of Need to the state, emphasizing the nearest hospital to Poinciana residents is its own 235-bed property in Kissimmee, 20 miles north of Poinciana.

Tony Iorio, Avatar's vice president of land development at the 1,545-acre Poinciana Office & Industrial Park, tells GlobeSt.com the contract price for the land is "not available at this time." However, Orlando area industrial brokers familiar with this submarket tell GlobeSt.com the dirt will probably go for about $300,000 per acre ($6.88 per sf), or an estimated aggregate price in the $12-million range.

Iorio tells GlobeSt.com average asking prices for commercial, retail and institutional buyers at the 47,000-acre master-planned community run from $5 per sf to $30 per sf. That translates to $217,800 to $1.3 million per acre.

He calls the hospital proposal "a very significant milestone for Poinciana, and will help address the need for quality hospital healthcare services right here in our community." Iorio anticipates the new hospital could be operating by 2008 if all local and state approvals are received on schedule.

The development site is near the Polk County line. Osceola Regional Medical is owned by Nashville-based HCA Inc. which operates 182 hospitals and 84 outpatient surgery centers in 22 states. Avatar Properties is the developer and primary builder in Poinciana.