The Florida real estate business is giving many developers ample opportunities to make money with their many and varied construction projects. The building of condominiums is one area that is particularly appealing to some developers. These sorts of projects signify the rapid growth that parts of Florida are currently experiencing.
In Aventura, developers have been experiencing something of a backlash against their efforts to construct two 16-story condominium buildings on a vacant island. According to a lawsuit filed by the developers against local homeowners, over 20 residents had been acting, in ways both legal and otherwise, to bring a halt to the project. Further, the developers claim that the homeowners had agreed to the project by signing a contract. In the suit, the developers requested $225 million in damages.
Recently in a Miami-Dade court, a judge acquiesced to the defendants’ motion to have the claims dismissed. The judge found that no contract was ever signed by the homeowners.
The homeowners are residents of a neighboring island and have expressed consternation regarding a sidewalk being built on property they claim is theirs. The homeowners have also taken issue with an increase in traffic.
A legal representative for the homeowners stated that the suit was an act of intimidation on behalf of the developers. However, a legal representative for the developers said that homeowners were trying to undermine a legitimate South Florida business.
Such disputes are an unfortunate consequence of doing real estate business in Florida. For all the good that can come from growth, so too can come conflicts.
If you are embroiled in a dispute involving a development project, you may wish to consult with a Florida commercial real estate attorney. An attorney could assess the elements of your dispute and help you weigh your options in finding a resolution.
Source: The Miami Herald, “Judge dismisses Privé developers’ $225 million lawsuit against Aventura residents,” Nicholas Nehamas, Dec. 9, 2015