It seems like mixed-use projects are popping up everywhere. We previously covered Downtown Tampa’s Water Street, a massive mixed-use project valued at $3 billion and poised to improve the lives of hundreds of thousands of Tampa residents. Our Naples construction lawyers will now discuss Founders Square, an ambitious 55-acre mixed-use project set to be just as impactful for Naples residents. We will also touch on several widely encountered obstacles on mixed-use projects. Because as vital as projects like these are to local communities and economies, they are particularly vulnerable to cost overruns, delays, and other common issues within the industry.
Breaking Ground on Founders Square
As reported by Florida Construction News, developers have broken ground on Founders Square. When completed, Founders Square will include a 400-unit Class A apartment community, 111,000-sq.-ft. self-storage facility, and a 35,0000-sq.-ft. medical office building. The main draw of Founders Square is to be The Pointe, a collection of restaurant, service, and retail tenants. The project is slated to be completed by summer 2021.
Mixed-Use Projects Are a Hive of Activity
As stated on the developer’s website, this project aims to provide Naples residents with “luxury living, shopping, dining, entertainment, medical, and other services.” This is an incredible undertaking, one that will require a number of moving parts to bring to fruition. Mixed-use projects regularly present issues that may not be present on smaller projects: cost overruns, delays, injuries, and even opposition from local governments. A single contractor behind schedule could delay every subcontractor down the line.
Related: Megaprojects: High Risk, High Reward
In order for ambitious projects like Founders Square to reach completion on-time and on-budget, we recommend that construction companies partner with a Naples construction attorney with the resources to handle any legal problem that can occur on large mixed-use projects.
Partner With an Attorney on Mixed-Use Projects
At Cotney Construction Law, our attorneys have dedicated themselves to assisting the contractors, engineers, suppliers, and manufacturers of this illustrious industry. No matter the size of the project you’re involved in, we can handle all construction legal needs for your company. Before your company takes a lucrative mixed-use project, partner with a Naples construction lawyer from Cotney Construction Law who can help mitigate risk, foster a safe work environment, and prevent costly legal disputes.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.