Environment | Capital Analytics Associates

Spotlight On: Chuck Hurchalla, President, Evolution Energy Partners

By Yolanda Rivas

2 min read October 2019 — Energy efficiency and sustainability are hot topics of conversation across all industries and organizations, public or private. Numerous organizations are now embracing eco-friendly alternatives to reduce their impact on the environment and reduce operational costs. During the last few years, full-service energy engineering and consultancy firm Evolution Energy Partners has helped hundreds of clients achieve their goals around utility spend, energy consumption and long-term energy management. Chuck Hurchalla, president of Evolution Energy Partners, recently spoke with the Invest: Philadelphia team about the rapid growth of Philadelphia’s energy sector.

What types of services or areas of business are seeing the most demand in Philadelphia?

There is high demand in the commercial, industrial and institutional sectors for our energy efficiency and energy procurement services. For example, commercial real estate is one of our largest and continuously growing customer segments, particularly hospitality, office, multifamily, senior living and data centers. Regardless of industry though, we address inefficiencies across our customers’ mechanical, HVAC and lighting systems and we also help our clients significantly improve their internal processes.

As a professional design-build energy consultancy, customization based on customer needs and the specific property’s energy profile are key. For example, a stellar guest and resident experience is paramount for our hotel and apartment complex owners, respectively. Our considerable experience in these verticals and our customization abilities allow us to implement a large number of fast payback, customized projects that greatly improve light quality, increase HVAC efficiency, and improve air quality for the benefit of ownership and their guests and residents.

To what do you attribute the rapid growth of Philadelphia’s energy sector?

The opportunities in Philadelphia’s energy sector continue to grow rapidly for a few important reasons. First, businesses and institutions are increasingly recognizing the need to establish and then accomplish sustainability goals to address their corporate environmental concerns and the environmental concerns of their customers.

Second, organizations’ decision-making processes around energy have historically been, and still are, based on the economic benefit derived from those decisions. As utility costs and related charges continue to increase, the financial bottom lines of businesses and institutions are becoming more and more sensitive to utility rates and energy consumption. Understanding that the utility cost center is one of the larger line items on an organization’s income statement, it becomes obvious as to why more and more companies and institutions are focusing on increasing energy efficiency and reducing their energy spend.

Lastly, Philadelphia is quickly moving forward with various energy regulations that will require property owners to benchmark their energy usage and to improve their energy efficiency. One benefit of recent Philadelphia-related regulations is the adoption of C-PACE financing. C-PACE, or Commercial Property Assessed Clean Energy, financing allows a property owner to finance energy efficiency and renewable energy projects with no up-front cost. The property owner then pays the costs back over an extended period of time through a voluntary property tax assessment, which leads to increased project adoption and improved cash flow for the property.

What makes Evolution Energy Partners unique?

Evolution Energy Partners is unique in the industry because of our ability to evaluate a facility’s energy cost center from an owner’s perspective in order to positively impact the three critical areas of commodity prices, energy consumption, and long-term energy management. This approach has become even more powerful and more critical to our customers as environmental sustainability has become increasingly integral and imperative to our customers’ shareholders and to society as a whole.

To learn more about our interviewee, visit:

Evolution Energy Partners: https://evolutionep.com/

Solar: The Ray of Light in Miami’s Clean Energy Bid

By Sara Warden

2 min read October 2019 — This month, youth climate advocates came together around the world to highlight the global climate emergency, and Miami Beach listened. The city declared its own climate emergency in response and vowed to prioritize climate change on its agenda.

“We are so proud of the youth leaders and their allies who worked hard to make this declaration a reality. We hope the city of Miami Beach will continue this leadership trend by taking concrete action to reduce emissions, like transitioning to 100% clean and renewable energy,” Emily Gorman, a representative for environmental group Sierra Club, told the Miami Herald.

The city has dabbled in renewable energy over the years but certain technologies, like wind, are simply not viable. Land is becoming more expensive, meaning there are few options for wind power developers to install turbines in a cost-effective way. Miami Beach has access to the sea, but offshore wind turbines would be vulnerable to hurricane activity off the Gulf Coast, which could ultimately be more costly for the city. Hydro energy has been generated by Florida for decades in the city of Tallahassee, but now solar power undercuts it economically and the city proposed the closure of one of its two plants in 2017 due to inefficiencies.

Now, developers in The Sunshine State, are focusing on the shining beacon of hope for renewable energy policies: solar power. Initial outlay for solar energy in Miami-Dade is still relatively expensive, coming in at between $11,645 and $15,755, equating to around $2.74/W. But Miami’s privileged position means it has on average 248 sunny days per year, compared with the national average of 205, meaning its residents can reap greater rewards from solar power.

Major U.S. utility Florida Power & Light Company (FPL) is taking advantage of the opportunity to transition to renewables by launching the FPL SolarTogether initiative. “Based on the substantial interest and support that we’ve received on this innovative, voluntary and affordable program from such a diverse array of customers, community partners, businesses, local governments and national clean energy advocacy groups, we’re confident that the time is right for this program,” said Eric Silagy, president and CEO of FPL, to Renewable Energy Magazine.

In the largest community solar program nationwide, FPL SolarTogether will expand solar energy access across Florida by investing in the installation of almost 1,500MW of solar energy across 20 solar plants. FPL will offer access to its solar energy at a fixed monthly subscription cost and credits will be added to bills over the life of the plants. The utility expects most customers will receive a higher bill initially, which will reduce over three to five years and a full payback will be seen within seven years.

The program could generate up to $249 million in net savings for FPL customers, according to the utility. But the main benefit of the program is democratization of access to solar energy, since not all citizens have the resources to install their own solar panels given the still-pricey initial outlay. “FPL SolarTogether is designed to remove many of the financial burdens associated with private solar generating systems while also providing direct savings in the form of bill credits, making it an affordable option for any customer. Participants could also utilize the program to meet state and federal sustainability goals,” said the utility in a press release.

To learn more about our interviewees, visit:

https://www.fpl.com/

https://www.sierraclub.org/

Spotlight On: Jeffrey Mylton, Charlotte Market President, HomeTrust Bank

By Felipe Rivas

2 min read October 2019 — The Charlotte Metro Area is home to a plethora of banks and financial institutions. While local and nationally-recognized banks provide similar services, many residents prefer to go to a local bank for their banking needs. HomeTrust Bank is a local bank keen on providing personalized service to its clients. In an interview with Invest: Charlotte, HomeTrust Bank Charlotte Market President Jeffrey Mylton talks about the advantages of local banks, the challenges they face, its relationship with the local business community and the outlook for Charlotte’s banking sector.

How would you describe the bank’s trajectory since entering the Charlotte market five years ago?

It has been a nice steady climb. We have added new relationship managers who are more in line with midmarket-type lending. We’ve also added several new divisions, one of which is equipment finance and the other is our SBA division, as well as a larger, more robust residential mortgage area. Two of the three divisions are headquartered here, as opposed to our headquarters in Asheville, so the bank realizes where a lot of the growth will come from over time.

What advantages does the Charlotte market provide over bigger national banks?

I would say a lot of customers are looking for personalized service. Just about every big bank has small business lending somewhere else. You come to them locally, but the approval process is out of the market. We provide the speed, flexibility, and personal service that a big bank can’t provide.

What will your partnership with fintech company AvidXchange accomplish?

A client that would take advantage of AvidXchange would have to be processing a lot of transactions. That’s more of a middle-market company, which is the type of company we are seeking in that middle-market segment where we would like to be more prominent. It’s a way to get our name out and have people realize our capabilities are just as good as the bigger banks.

What are the greatest challenges facing community banks in Charlotte?

A lot of community bank growth has been done by boosting the balance sheet with real estate. I think everybody understands you have to be diversified. You have to have a deposit base in order to lend. Real estate’s great, but you can’t do everything with real estate. There are so many more business opportunities for a bank when it is servicing business customers.

As this market grows, people are looking for a bank that can satisfy their needs. Other than a few things that a big bank does, such as mergers and acquisitions, we can do what they can do. Most of the time we can provide it either more efficiently or less expensively.

We’ve seen just about all but about two community banks disappear here in Charlotte, but you’re also seeing big growth in credit unions. I think the reason that they’re becoming so active is because of the void of community banks. People would rather deal with a personal relationship where somebody locally cares. Big banks don’t provide that. So you’re seeing us thrive as one of the few left, as well as the credit unions.

How can regulators or economic engines like the Charlotte Regional Business Partnership help address some of those challenges?

They are directing attention to a need. They’re attracting customers and business to the city, which gives us an opportunity to do business. When those companies come here, they are looking to work with someone that actually works and makes decisions locally. Many large banks don’t make business decisions here.

How is HomeTrust responding to the emerging millennial market and the demands of this generation?

Whether it’s remote data capture, creating our app so you can do all your banking services on your phone, or Popmoney, where you can transfer money between different accounts, those are all things that can continue to evolve. And as they evolve we continue to make sure we have what we need to be competitive.

What’s your outlook for the finance sector in Charlotte and what emerging businesses are you involved with?

There are so many multifamily projects being done. Opportunities are there for all residents of these multifamily projects to be banking customers. We aim to serve all customer segments, millennials to retirees, as well as small to middle-market companies.

As for emerging businesses, we have relationships with quite a few of these types of companies. Those that are involved in cloud computing, data centers, and related businesses in fiber optics. Technology and digital businesses just keep changing, but we’re active on all fronts. We have quite a few cloud computing-related businesses.

To learn more about our interviewees, visit:

https://www.htb.com/

Atlanta’s Entertainment Pull Buoys Hospitality Industry

By Sara Warden

2 min read October 2019 — With 130 new hotel constructions planned across Metro Atlanta, the city now ranks fifth in the country for new hotel construction. The momentum generated from this year’s Super Bowl seems to have continued as the city now looks to attract other major sporting events, such as World Cup 2026 after it made the shortlist as a potential host city.

“Atlanta’s standing as a preferred site for major sporting events has been enhanced by the 2017 opening of the state-of-the-art, $1.6-billion Mercedes-Benz Stadium, as well as the opening of SunTrust Park and the conversion of Turner Field into the new Georgia State Football Stadium,” said a report by the Hotel Valuation Index (HVI).

And Atlanta doesn’t just draw visitors for sporting events. Hotels are now incorporating convention centers as standard to provide the greatest value to customers. “In recent years, the city’s large amount of meeting and event space at competitive price points has advanced Atlanta’s position in citywide convention cycles and has improved the city’s standing in relation to other large convention markets,” said the HVI report. “Increasing convention demand will continue to be supported by the ongoing $55-million expansion of the Georgia World Congress Center (GWCC) and the 2019 announcement of a 1,000-room Signia Hilton convention hotel to be located adjacent to the GWCC.”

Of the 107 projects tracked by real estate firm CBRE, 15 are located in downtown Atlanta, 14 are in Gwinnett County, 11 are in Cobb County and a further 13 are located along the corridor of the GA-400 freeway.

As the competition heats up, hotels need to evaluate their offering to ensure they are in the best position to attract new clientele. Most recently, luxury hotel chain Kimpton jumped on the bandwagon and partnered with developer Portman Holdings and leading hospitality firm IHG to build new properties in Atlanta and Houston. The 216-room Kimpton Buckhead hotel is slated to open in the second half of 2020 and will feature a restaurant and bar, courtyard, private pool and a rooftop lounge.

“We’re thrilled to expand our presence with a second Kimpton hotel in the Atlanta market,” Mike DeFrino, Kimpton Hotels & Restaurants’ CEO, said in a statement. “The partnership with Portman Holdings allows us the perfect opportunity to bring Kimpton to the stylish Buckhead neighborhood and to continue consolidating our presence in the Southeast at-large.”

Developers in Buckhead also are targeting what they describe as the hotel market’s “white space,” or those customers willing to pay $250-300 per night for a room. While luxury hotels in Atlanta command an average of $227 per night, other neighborhoods can attract rates of more than $350 per night. “So, the white space occurs between that $350 and the $225 rate that is prevalent in all of the other hotels in Buckhead,” Regent Partners President Reid Freeman told Bisnow. “There’s $125 worth of white space that no one is capturing.”

Next month, the company is expected to break ground on a $90 million boutique hotel in the Buckhead Village district, to be operated by Thompson Hotels. Buckhead is also a target for Songy Highroads, which is planning a $75 million Hyatt boutique hotel targeted to millennials. “The experiential factor is becoming more prominent. You have different segments of travelers, from millennials to people aging into retirement. They are looking for an experience and place that is a reflection of the surrounding community,” Songy Highroads CEO David Songy told Bisnow.

To learn more about our interviewees, visit:

https://www.hvs.com/article/8460-2019-european-hotel-valuation-index

https://www.cbre.us/

https://www.ihg.com/kimptonhotels/hotels/us/en/reservation

https://www.regentpartners.com/

https://www.portmanholdings.com/

https://www.thompsonhotels.com/

http://songyhighroads.com/

https://www.gwcca.org/georgia-world-congress-center/

https://www.hilton.com/en/signia-hilton/

A Show 60 Years in the Making

By Max Crampton-Thomas

2 min read October 2019 — Oct. 30 to Nov. 3 are probably the most important couple of days for the city of Fort Lauderdale and for Broward County. Over the course of these five days, the city opens its doors to over 110,000 boating enthusiasts from around the world representing over 50 countries, all here for the purpose of attending the Fort Lauderdale International Boat Show. While this event is always a highlight for the year, this year has special meaning: it’s the 60th anniversary for the Boat Show.

The success and longevity of the event comes as no surprise as Fort Lauderdale has been dubbed the “Yachting Capital of the World” with its economic roots deeply cemented in the marine industry. This event is not just a chance for visitors to see these boats up close and personal; it serves primarily as a platform for yacht brokers and various other exhibitors to showcase their marine products and services.

The economic benefits to the region brought on by a boat transaction cannot be understated, and were highlighted by Paul Flannery, executive director for the International Yacht Brokers Association, when he spoke to Invest:. “A boat is an economic engine for the community. When a boat comes to a community, 10% of the value of that boat is injected into the local economy on a yearly basis. When there is a transaction involving a boat, an additional 13% of the value of that boat is injected into the local economy in the first year after the sale,” Flannery explained. He continued: “When a person wants to sell their boat, then we need to make sure they know that there is no better place to do business than South Florida, the yachting capital of the world. The impact of that boat sale happening in South Florida benefits the local economy through the yacht broker and marina owner, as well as all the people engaged in that transaction.”

The show this year will not only feature the debut of the show’s largest megayacht, Madsummer, it will also include the 2nd Annual Sunset Soiree and Yacht Chef Competition, a superyacht village and a mansion yacht. Perhaps most unique about this year’s event is the FLIBS 4 Bahamas initiative that will be in support of the Bahamas relief efforts in the Abacos and Grand Bahama, two of the islands devastated by Hurricane Dorian. The proceeds from both the raffle of a Pioneer Sportfish 180 and the Yacht Chef Competition will be going directly to charities working on hurricane relief for the islands.

With more than $4 billion worth of product on display at the Boat Show, the event has not only become a staple for the South Florida community, but the global marine community as well. The event is owned by the Marine Industries Association of South Florida, whose CEO and President Phil Purcell perfectly summarized to Invest: just how important the Boat Show is to the region. “We are the refit and repair capital of the world, the yachting capital of the world. When you think of Fort Lauderdale International Boat Show’s impact on the state of Florida, it generates an $857 million economic impact, with 110,000 visitors from 52 countries around the globe. Keep in mind that $100 million a day changes hands in sales during the five days of the show. The marine industry has an economic value to Broward County of $8.9 billion.”

To learn more about our interviewees, visit:

https://www.flibs.com/en/home.html

https://www.miasf.org/

https://iyba.yachts/

Miami BIDs Put Customer First, Profits Later

By Sara Warden

2 min read October 2019 — As commercial real estate evolves and retail stores move online, Miami’s authorities are addressing vacancy rates with an innovative business improvement district (BID) program that unites private business and local store owners to take back Main Street.

A BID is a legal mechanism that has successfully been put in place in Miracle Mile, Coconut Grove, Lincoln Road and Wynwood, and most recently was established in South Miami. The South Miami BID provides a budget of $200,000 annually to provide services to businesses and commercial properties that include “enhanced safety, marketing, advocacy, promotions, and maintenance,” which are provided by the City Commission in addition to basic services.

Lincoln Road is one BID that, rather than focusing on vacancy rates, is focusing on creating a community for the public to attract foot traffic to the area. “I look at Lincoln Road differently,” said Lyle Stern, a member of the Board of the Lincoln Road BID to RE: Miami Beach. “I’m trying to encourage all of us who live in Miami Beach to look at Lincoln Road differently.” He believes that vacancy rates are the concern of individual property owners and that by creating an attractive environment, people will come.

Despite a significant hole being created right in the middle of Lincoln Road by the collapse of shopping giant Forever 21, the BID is planning a $67 million makeover, with Miami Beach authorities contributing to the cost of construction. The private business owners in the area will foot the bill for the promotional events by increasing their own taxes.

The idea behind the BID is not directly to attract investment to a given area, but to nurture the area so that investment comes as an added bonus. The Wynwood BID has taken a look at what the public really wants, and one of its priorities was to re-open the beloved shuttered O Cinema. “O Cinema is a cultural icon in South Florida and a home for independent cinema,” said Albert Garcia, chairman of the Wynwood BID to the Miami Herald. “We were just as blindsided by the news of their closing as everyone else. As a long-time property owner in Wynwood as well as a member of the BID, it was important to me to see how we could keep O Cinema here.”

As the age of e-commerce dawns, BIDs are a way for traditional store owners to tune into the desires of the public, who now want more than just a traditional shopfront. Not only is investment being made in the community, but new business models are emerging that evolve with real demand.

“Nespresso has a very successful store on Lincoln Road,” Stern said to RE: Miami Beach. “As a company they’ve decided they don’t need cafés in the stores. They’re expensive and you have to maintain employees.” Instead, Lincoln Road’s Nespresso is downsizing from 4,500 square feet premises to 2,500 square feet, but staying on the same street, allowing it to maximize its value and provide its customers what they really want.

To learn more about our interviewees, visit:

https://www.southmiamifl.gov/563/Business-Improvement-District-BID

https://lincolnrd.com/lrbid/

https://wynwoodmiami.com/

Top 5 Tourism Drivers for The Palm Beaches

By Max Crampton-Thomas

4 min read October 2019 — With more than 8 million visitors to Palm Beach County in 2018, it’s no secret that tourism is the driving force behind the economy in The Palm Beaches. Last year, these visitors generated $7.4 billion in economic impact and are the reason for over 70,000 tourism jobs. While the appeal of a relaxing beach vacation may seem like the obvious tourist magnet, there are so many different and unique facets of the county that drive the economic behemoth that is the tourism sector. Here is the Invest: Top 5 tourism drivers for The Palm Beaches

BEACHES

Palm Beach County is bordered by 47 miles of Atlantic coastline that offer some of the state’s most attractive beaches. These include Boynton Beach Ocean Park, Coral Cove Park, Juno Beach Park and many more, with a large portion of these beaches offering resort amenities and marine activities. The Palm Beach County coastline was also nicknamed Florida’s Gold Coast after gold was recovered from Spanish galleons that sank off its shores. A fitting nickname for beaches that are like gold to the Florida economy. Invest: spoke with Jorge Pesquera, president and CEO of Discover The Palm Beaches, who touched on the importance of the beaches to the tourism industry in the county. “Leisure remains the most crucial tourism driver for The Palm Beaches, with meetings and conventions continuing to gain momentum. Within the leisure tourism market, our beaches are the biggest draw for not only those seeking to relax and rejuvenate, but also those interested in activities such as boating, fishing, scuba diving, kayaking and paddleboarding,” Pesquera told Invest:.

You can learn more about the county’s best beaches here: https://www.thepalmbeaches.com/blogs/best-beaches-are-palm-beaches

ARTS & CULTURE

Home to cultural institutions like the Kravis Center for the Performing Arts, The Palm Beaches are an arts and culture hub that drives many cultural travelers to the area. Invest: discussed with Judith Mitchell, CEO for the Kravis Center, how this increased interest from out-of-town visitors has positively affected her business as well as those in the surrounding area. “Our strong programming and marketing teams ensure that we continue to bring the best of Broadway and other diverse performances that attract audiences from outside the state and from cities north and south of the Center. In 2018-2019, the Center saw an increase in out-of-county audience members by nearly 50%. This also has a positive economic impact on the surrounding hotels, restaurants and shops as these nonresident guests choose to dine, shop and stay overnight before or after attending a performance.”

For more on the various arts and culture destinations in the county, visit: https://www.palmbeachculture.com/

SPORTS

For an area that doesn’t have a major professional sports franchise, the county’s tourism market has a strong driver in the sports tourism market. It helps that among Palm Beach County’s various monikers, one of the titles held most proudly is “The Golf Capital of Florida,” boasting more than 150 public and private golf courses. It also doesn’t hurt that Major League Baseball teams, namely the Houston Astros, Washington Nationals, Miami Marlins and St. Louis Cardinals, call Palm Beach County their home during spring training. For those who prefer alternative sports, The Palm Beaches are also the location of polo and equestrian events, including a variety of International Polo Club tournaments.

Interested in learning more about sports offerings in The Palm Beaches? Visit: https://www.palmbeachsports.com/

ECO-TOURISM

When a county boasts 110 parks and recreation facilities paired with 35 natural areas that make up more than 31,000 acres of environmentally sensitive lands, it is bound to attract eco-tourists. This form of tourism may seem obscure from an outside perspective, but it not only can provide visitors with a memorable experience, it also provides health benefits as well. Invest: recently sat down with Deborah Drum, department director of Palm Beach County Environmental Resources Management, who spoke to this tourism driver and its benefits. “We have conducted economic studies of our natural areas. We have over 300,000 visitors just to the natural areas in our county. These are remote areas that offer more passive types of recreation, including hiking, fishing or bird-watching. We have done a study with the University of Florida on this passive connection and we have determined that these visitors are coming for that purpose. There have also been a number of studies about the connection between mental health and time spent in natural areas or spent outside. There is a positive relationship between the reduction in mental health issues with more time spent out in nature,” Drum explained.

Check out more on Palm Beach County’s Natural Areas Map: http://discover.pbcgov.org/erm/Pages/Natural-Areas-Map.aspx

MEETINGS & CONVENTIONS

There is a direct correlation between the increase in business tourism to The Palm Beaches and the economic and business growth that the county is enjoying. The beneficiaries from this driver of tourism are a wide range of business types, from hotels to restaurants and even retail. Discover The Palm Beaches’ Pesquera highlighted just how significant this is to the tourism market. “On the meetings front, we’ve seen a 567-percent increase over the last several years in groups booked at the Palm Beach County Convention Center. Unlike our good friends in Miami and Fort Lauderdale — where there is a clear and established epicenter of tourism activity — The Palm Beaches are truly a collection of midsize to small cities and towns that altogether deliver an exceptional vacation or meeting experience,” Pesquera told Invest:.

For more on this and the tourism industry in Palm Beach County, visit:

www.thepalmbeaches.com/

How Broward is Solving its Transportation Troubles

By Max Crampton-Thomas

4 min read October 2019 — For over a century, the car has been America’s top transportation choice when getting from point A to point B. As the population in the United States has grown exponentially year over year, so has the dependency on these vehicles, which has led to worsening transportation issues like congested roads, air pollution, traffic accidents and in some cases fatalities. Throughout South Florida, in this case Broward County, the negative effects of the population’s dependency on single-occupancy vehicles are rampant throughout the region. While these issues pose a major challenge to Broward, there is hope as the younger generations are looking to avoid the stress of car ownership, and many community leaders and organizations are making a push toward better mass transit and alternative transportation options.

While these are not all new ideas, in the last couple of years the emphasis for Broward has become truly exploring and executing these ideas. This starts with the 30-year Penny For Transportation Surtax that was passed last November and is set to generate billions of dollars toward improving transportation and mass transit options throughout the county. Invest: recently spoke with Monica Cepero, deputy county administrator for Broward County, who discussed what the community could expect from the revenues generated by the tax. “This sales tax is set to generate about $16 billion over the next 30 years, and will be used in the more immediate future to improve and modernize public transit services. Our long-term plan for those funds is focused on creating connectivity, extending roadway capacities, multimodal improvements and improving transportation facilities and service.”

Invest: also spoke with Gregory Stuart, executive director of Broward MPO, about the near-term changes that could be expected from the revenues collected from the tax. “Realistically, the immediate changes aren’t going to result in construction; we are focusing on enhancing the traffic signalization program. This includes a coordination between the traffic lights, people’s vehicles and installing smart communication equipment. Another immediate change that has happened already but which we’re not going to notice for about another year, is the county transit agency’s purchase of another 130 buses. Considering they are operating a fleet of about 300 buses right now, this is a one-third expansion and a significant increase in the bus system,” he told Invest:.

While the tax is going to be a huge benefit for transportation in the region, a change in mindset is another factor impacting how people get around. One option is the Tri-Rail, which is celebrating its 30th year servicing the South Florida community. Tri-Rail Executive Director Steven Abrams spoke about how it is benefiting from the changing mindset toward mass transit in the area. “South Florida is a tourist and service-related economy, and these individuals, like waiters or construction workers, cannot work from their homes. We have people coming from all over the world who are used to rail transportation in their countries, and they are feeding into our system. Our roads are also just becoming so congested. It used to be that our ridership would principally, and almost exclusively, fluctuate with gas prices, but now that gas prices are stable and dropping, we still have people riding our system because ultimately it is the overabundance of cars on the road that is urging them to seek alternative transportation.”

Abrams also spoke to how Tri-Rail has improved and updated its operations over the years to encourage use by a larger population. “Over those 30 years, we have improved our service, added more trains, added weekend and holiday service and added connections to the three airports. We are a transportation system that has become popular over time and we have really embedded ourselves in the tri-county area.”

The other popular train in South Florida is also the newest mass transit option for the region, Virgin Trains USA. Running through the three counties of Miami-Dade, Broward and Palm Beach, the train is looking toward the future by connecting the three counties with Orlando and an eventual Tampa Bay stop as well.

Patrick Goddard, president for Virgin Trains USA, discussed with Invest: how it wants to be a catalyst for transit change in South Florida. “We are reinventing train travel in America, so there are always going to be challenges, but none that we have not been able to overcome so far. The advent of this project has awakened a desire and a curiosity within the municipalities to recognize the full potential for mass transit in South Florida. We are solving the challenge in Florida of medium-haul travel. Airlines take care of long trips, while rideshare, motorized scooters and buses take care of short ones. There has always been this gap with the 200- to 300-mile distances that are too short to fly and too long to drive. By introducing an option like this, it encourages people to leave their cars at home and start using a more environmentally sustainable means of transit.”

A key factor in remaining economically sustainable is having good transportation and mass transit options. As Broward County continues to develop into an economic powerhouse so to must its transportation, and with changing mindsets and push from community leaders the future looks bright.

To learn more about our interviewees, visit:

https://www.tri-rail.com/

http://www.browardmpo.org/

https://www.gobrightline.com/

https://www.broward.org/

Healthcare Sector Rapidly Expanding in Orlando

Writer: Yolanda Rivas

2 min read October 2019 — Orlando’s population has increased rapidly over the last few years, making it one of the fastest-growing metro areas in the United States. As the city continues to grow, local healthcare organizations are immersed in numerous expansion and improvement efforts.

The region’s main health providers have been expanding their partnerships, free-standing emergency rooms (ER), specialized centers and hospitals. The Invest: team recently met with Daryl Tol, president and CEO of AdventHealth Central Florida Region, who pointed out some of the fastest-growing areas of service and care in Orlando.

“We have added quite a number of free-standing locations with doctors and emergency services in areas of need, instead of having to build a whole hospital. We are growing in our academic work around community cancer research. The cardiovascular institute is seeing high demand as well. We are also redefining our primary care model to include virtual care, which will allow patients to connect via video or text messages with their doctor,” Tol said.

AdventHealth opened the Waterford Lakes ER on Sept. 27, which is its fourth free-standing ER in the area. The hospital also announced plans to build an 18,400-square foot, 24-bed hospital-based emergency department in Port Orange for adults and children, and has the Oviedo ER set to open in the next few weeks. AdventHealth has also partnered with Moffitt Cancer Center to improve cancer care and establish a clinical research facility and chemotherapy/immunotherapy infusion program at AdventHealth Celebration.

Orlando Health is also deploying a high amount of capital in expansions and new developments. The $3.8 billion not-for-profit healthcare organization recently opened Orlando Health Emergency Room and Medical Pavilion – Lake Mary. The 25-room ER can manage a majority of emergencies, from minor trauma to broken bones. The adjacent medical pavilion will offer several specialties including, pulmonology, pediatrics, obstetrics and gynecology, urology, orthopedics, general surgery, cardiology, and cardiac rehab. The second phase of this campus is already in development with the construction of a hospital expected to begin in the spring of 2020. Orlando Health has a total of six free-standing ERs either under construction or completed in Central Florida.

The community-based network of hospitals also opened the Orlando Health UF Health Cancer Center last summer, bringing advanced cancer treatment to residents of Osceola County.

Tennessee-based healthcare provider HCA Healthcare also opened its third free-standing ER in Millenia on Sept. 18. According to an Orlando Business Journal article, HCA plans to build a 12-bed emergency department in Davenport, which is expected to open in 2020. HCA has also partnered with the University of Central Florida to build the UCF Lake Nona Medical Center, which is expected to open in the fourth quarter of 2020.

As Orlando’s population continues to rise and the healthcare sector remains highly competitive, it is expected to continue to see a high amount of healthcare-related construction and development in the region.

To learn more about our interviewees, visit:

AdventHealth: https://www.adventhealth.com/

Orlando Health: https://www.orlandohealth.com/

HCA Healthcare: https://hcahealthcare.com/

Return to Invest: Orlando

Spotlight On: Chuck Hurchalla, President, Evolution Energy Partners

Solar: The Ray of Light in Miami’s Clean Energy Bid

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