The developers of a proposed residential community that could have brought as many as 2,500 apartments or condos to the Town Center area of Boca Raton, Florida, have sued the city.
The proposer, a real estate and management firm, is seeking $137.6 million in damages. The plaintiff contends that the City Council’s vote to reject the Midtown Boca community has reduced the value of the land, as well as the value of other properties the firm owns nearby.
The proposal called for the development to be built between Town Center and Interstate 95.
“Due to the fact that the city has taken an obstructionist, non-cooperative approach, we are left with no choice but to move forward [with the lawsuit],” the managing partner for the proposed developer told the South Florida Sun Sentinel. “We are saddened that the city has forced our hand in this matter and is endangering the financial health of our community and placing a tremendous burden on its citizens and our neighbors.”
The lawsuit contends the city hasn’t responded to opportunities to resolve the dispute, and that has caused the land value to fall.
The proposal was for a “live-work-play center” with restaurants and shops to surround the development. Residents in the area said the development was too dense for the property.
“There are too many unanswered questions about traffic, transportation and getting people across Military Trail,” the mayor told the Sun Sentinel when he was campaigning in August.
This is a huge project, and the issues will be complex to solve. But even smaller projects, such as single-family residences, can wind up being voted down by municipalities. If you have any problems in the building process, a Florida attorney with experience in real estate law can offer guidance.
Using the right estate planning tools is an important part of providing for your loved…
Property Dispute Attorneys Provide Assistance to Property Owners Property and landline disputes are common in…
Help with Probate Problems Serving as the Personal Representative of an estate is an important…
Non-Compete Contracts Signing a non-compete contract is a fairly common part of the onboarding process…
Update Your Will or Trust You don’t need to worry about your estate plan expiring,…
Estate Planning Estate planning can be a complex process when you have children. Many parents…