Construction
Financial Contingencies, “Pay if Paid” Clauses and Takings, Oh My!: The Fallout from the Granby Towers Litigation
In 2004, 515 Granby, LLC proposed a $180.5 million condo development. With 34 stories and 327 units, Granby Towers would be the tallest building in Norfolk and would revitalize the northern part of the city. The following year, the federal government threatened to condemn the property, causing just enough of a delay for the ebbing…
December 23, 2009