Condos get millions for water damage
May 21, 2012
The following article was published in The Orlando Sentinel on May 21, 2012:
Condos recover more than $3 million for defective roofs, windows
By Mary Shanklin
The condominium association for Runaway Beach Club Condominiums in Kissimmee has recovered more than $3 million as part of the settlement in a construction-defects lawsuit.
First filed in state Circuit Court in Kissimmee in January 2010, the case outlined damage from defective roofs and leaking, improperly installed windows. The complex, built as apartments in 2001 but later converted to condominiums, comprises 192 units.
Settlement terms were not disclosed. The case was brought against parties that included general contractor Epoch Propparties Inc., whose chairman is Jim Pugh, chief booster of the Orlando Performing Arts Center project. The firm settled its part of a similar lawsuit for an estimated $60 million in damages at the Hamptons in Orlando’s Metrowest section. The settlement was not disclosed.
Pugh said the lesson he learned was to avoid selling the complexes his company builds to a condominium converter. They don’t maintain them, he said.
The Kissimmee case was settled after several mediations. Christopher Coglianese and Stephen Hauptman were the lawyers handling the case.
Fidn this article here: http://articles.orlandosentinel.com/2012-05-20/business/os-cfb-real-estate-condominium-0521-20120520_1_landlord-office-lease-square-feet