Orlando shopping center tenants have more time to move
Having one’s home taken through eminent domain can impose a significant upheaval in the life of a Florida family. However, the challenges of vacating a property and finding a new place to live can be just as hard for commercial businesses. In Orlando, around two dozen businesses will have to find new places to operate due to a taking of the Crossroads of Lake Buena Vista retail center.
The state will be claiming the 29 acre property to perform expansions and improvements to the Interstate 4 corridor through the area. Congestion in the Disney World area formed the basis of the state’s argument for the taking, and, recently, the businesses affected by the eminent domain action believed they had only until the end of 2019 to move. An extension of an additional 18 months gives them more than two years to find new spaces for their operations.
The eminent domain taking of the Crossroads center will cost around $150 million. Tenants of the shopping center are now using their current spaces rent free but are still saddled with the difficult prospects of finding new locations.
As has been discussed in various posts on this blog, eminent domain is a significant government action that can impose burdens on property owners, as well as their tenants. Florida residents should be aware of how the eminent domain process may impact their property rights and the options they may have to fight eminent domain actions initiated against their land. If you have questions regarding property rights, you may wish to contact an attorney.