According to local reports, there were some well known structural problems that are coming into play with the completion of the Paramount on Lake Eola.
The developer of the 16 Story, 300+ unit condo complex located just south of Lake Eola stated that it spent more than $16 million to add extra bracing to the building. The general contractor noticed cracks on concrete columns caused by insufficient rebar within the beams. The building received a certificate of occupancy after government inspection earlier this year.
Alexis Freire, a Windermere resident, has spent nearly $100,000 in deposits towards 2 units there. He has asked the Circuit Court Judge to require the developer to return those deposits.
If a class action lawsuit impedes, this may serve as a “way out” for those that put deposits on units before the condo market crashed. This could be the light for many.
