Many hospitals in Florida are looking to expand the scope of their services or break new ground. However, some of the proposals are focused on areas where there is less need for new hospital facilities. The size of the proposed projects varies greatly, ranging from one facility that wants to add four new neonatal treatment beds to others that are looking to create new facilities with more than 100 beds.
In Florida and across the country, traditional shopping malls are facing difficulties, while other kinds of retail real estate projects are booming. However, the owners of classic malls like the Santa Rosa Mall are looking towards new options to revitalize their storefronts. In addition, by constructing a large apartment complex on the site, mall owners are changing the face of the project toward the walkable, live-work concepts that are propelling large-scale residential construction across the country.
Bringing even straightforward real estate transactions to a successful close can be challenging in Florida, and stricter underwriting standards introduced in the wake of the mortgage crisis have added an additional layer of complexity to an already difficult process. Attorneys with experience in this area will be aware of this, and they may help property buyers and sellers, contractors, suppliers, developers, architects and property managers to anticipate potential snags and pitfalls and keep deals on track.
Courts recognize written agreements between parties involved in a construction project. Although some limited circumstances might legally allow two parties to forgo a written agreement, verbal agreements provide courts with nothing to base decisions on if a dispute arises. In the majority of business deals, the law requires contractors and their business associates to develop written contracts. Value and term length play an important role in the requirement to make an agreement in writing.
Litigation can be a time consuming and expensive process, and businesses in Florida and around the country often choose to settle these matters at the negotiating table to avoid protracted legal battles. However, traditional negotiations and alternative approaches such as mediation do not always lead to an amicable resolution.
In Fort Walton Beach, development has been approved on the Florida city's waterfront, meant to promote tourism, entertainment and a range of other activities. The Fort Walton Landing received a grant of $1.6 million from the state environmental protection department to pursue upgrades to the park.
Commercial real estate owners in Florida may face a significant increase in their property taxes in 2019. The property taxes will increase unless 60 percent of voters in the state agree to permanently extend a cap on the taxes assessed on non-homesteaded property. The issue will be settled via Amendment 2 on the November ballot.
In Fort Walton Beach, development has been approved on the Florida city's waterfront, meant to promote tourism, entertainment and a range of other activities. The Fort Walton Landing received a grant of $1.6 million from the state environmental protection department to pursue upgrades to the park. Among other changes, the redevelopment will include the renewal of 875 feet of boardwalk that borders the Santa Rosa Sound as well as benches and trash receptacles for the walk. The renovation will also include lighting and sidewalks that comply with the requirements of the Americans with Disabilities Act.
A NAIOP Commercial Real Estate Development Association survey found that Florida's commercial real estate sector added nearly $190 billion to the state's economy in 2017. That was the third-most of any state trailing only Texas and California. It was also third behind Texas and California as it related to commercial real estate spending at $99.3 billion. Florida also ranked highly in several other categories related to construction spending and economic impact.