Florida property projects frozen over oil spill

Posted on June 18th, 2010 No Comments

The Florida home construction industry has taken a serious blow from damages due to the Gulf Coast oil spill.

With paused or canceled projects running between $450,000 to $750,000 per property, home builders have found major set-backs in economic recovery appearing from oil spill worries. Growth between this year and the last showed 11% growth in March and 4.7% growth in April, making some believe that Florida property owners were seeing a slow by steady road to recovery. After the oil spill, any confidence assumed by area property holders has been scrambled.

University of Central Florida’s Institute for Economic Competitiveness has estimated a $10.9 billion list of damages due to the oil spill. Since Tuesday, BP has accounted for and paid $183,602 to Florida claims. Real estate sales loss claims have totaled $11,722, according to BP.

If you or someone you know has suffered damages or sustained injury due to the oil spill, you may be entitled for legal recourse. Contact the Gulf of Mexico oil spill lawyers of Williams Kherkher by calling 800-821-1544 to discuss your rights and options with a legal professional today.

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