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Does anyone have any experience with encroaching development potentially wanting your Condo Complex for their development? We are small - only 7 units. We used to be in a residential neighborhood, but the last 30 years businesses have moved into the area, pretty much leaving us the only real owner occupied Condo Complex in our immediate area. The biggest buy out was a large grocery chain 20+ years ago - back then owners were given a reasonable buy-out. We are also adjacent to a Hospital Zone - now a large Mega-Hospital chain has bought out the local Hospital. We just received notice a large 15,000 sq ft Cancer Treatment facility is going in on our small dead end street - literally next door to us. The City is of no help, since it means big money to them. We were also just going to do some big maintenance projects to the buildings. The Mega-Hospital has announced they would like further expansion in the future ( next 10 years) leaving our property up for a potential offer. I remember reading laws for Corp. take over of land were drastically changed during the last 10 years - not so good for owners an y more. Any advice ??!!
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