There are many old buildings in Florida that will likely be demolished before 2019 ends. As with many other demolition projects across the country, it is common for real estate developers to construct new buildings and housing developments on such sites. In fact, that is what was scheduled to occur at the site of an old hospital building in another state. However, real estate disputes have prompted serious delays in the project’s completion.
It seems the company hired to demolish the building and the real estate development company are at odds. The president of the latter says the company refuses to pay for incomplete work and has already sunk more than $1 million into the project that is nowhere near up-to-date in the projected and agreed-upon project completion time frame. Developers say the contractor has falsely claimed that the project is 90% complete.
The local mayor weighed in on the topic, asking for the community’s patience and understanding as the parties enter arbitration to settle their differences. A new apartment complex was expected to be standing by the end of this summer. However, it has been nearly a year since demolition began and the old building is still partially standing.
The central focus of these real estate disputes is that the developer believes the contractor has failed to adhere to the terms of their agreement. As many Florida developers and contractors understand from first-hand experience, such issues can be quite complex and difficult to resolve without litigation. An experienced real estate law attorney can be a great asset to anyone currently struggling to overcome obstacles in a demolition or construction-related contract.