CLERMONT, FL-It’s a study in basic commercial development leverage: Give up something of special value to get something of equal value. Robert Mandel, CEO of Greater Construction Co., one of Orlando’s oldest shelter builders, says so far, that’s not happening in a deal he made two years ago with the Lake County School Board. The school board doesn’t deny doing the deal and says the issue will be resolved shortly to everybody’s satisfaction.

The deal: Mandel agreed to donate seven acres for an extension on Clermont, FL’s commercially-strategic Hook Street where a $45-million high school housing 1,846 students is scheduled to open on 80 acres in August 2002. Without the road extension, students won’t be able to reach the school.

And if construction on the road doesn’t begin by Aug. 17, it won’t be ready for next year’s fall school term, school officials have been told by road contractors. Clermont is 25 miles west of Downtown Orlando.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.