CFX Wekiva Parkway: New Interchange Taking Residence and Greenhouses (Orange County, FL)
In 2017, Brigham Property Rights Law Firm represented Charlie and Kim Chapman in a jury trial when the Central Florida Expressway Authority (“CFX”) acquired a “whole take” of their property upon which were situated both their home and orchid nursery greenhouses. However, it was the land underneath that had tremendous value on account of the anticipated increase in value resulting from the prevailing market forces which included, in no small measure, a new interchange on the Wekiva Parkway at Kelly Park Road. In fact, as part of the environmental benefits associated with the Wekiva Parkway, only one interchange is planned for the 21-mile stretch of the new tollway. While CFX’s appraiser selected “comparable sales” that were nearby, none were within close proximity of a new interchange. In contrast, the Chapmans’ appraiser selected “comparable sales” that, albeit more remote, were similarly situated properties with close proximity to other interchanges along the western beltway of Orlando. CFX’s initial offer was $643,500. The jury’s verdict was $2,250,000 which was within 10% of the amount the Chapmans’ appraiser estimated for the real estate.
ClientCharlie and KIm Chapman