Calhoun & Associates was the real estate appraiser for the property owner on this case.

THE ORLANDO SENTINAL

by Vicki Vaughn of the Sentinel Staff

A developer and the Orlando-Orange County Expressway Authority reached an out-of-court settlement Monday over compensation for a right-of-way through Hunters’ Creek, a 4,000-acre development in south Orange County.

The authority will pay American Newland Associates, owner of Hunters’ Creek, $18.75 million and $800,000 in interest to build the southern connector through the mixed-use development.

American Newland filed suit against the authority in 1991, saying construction of the Greeneway section would make it “difficult or impossible for Hunters’ Creek to successfully market the remainder of the project.”

Negotiations over compensation centered on two appraisals: one done for Hunter’s Creek stating that the value of the project is$25.2 million, and one done for the authority that put the value at $12.865 million.

J. Christy Wilson III, a lawyer for American Newland, said, “my client found the amount acceptable and agreed to the settlement.” He declined to elaborate.

The 22-mile southern connector, which will be built between the Beeline Expressway and State Road 536, is under construction and expected to be completed by mid-1993.

Reproduced with permission of the copyright owner. Further reproduction or distribution is prohibited without permission.

Tagged In

Comments are closed