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Real Estate & Property Law

: Law of the Land

Rezoning of Property from Commercial to Residential Is Not a Taking Where Plaintiff Fails to Demonstrate Substantial Interference with Investment-Backed Expectations

By Patty Salkin

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Gilmour Realty, Inc. bought two adjoining lots directly north of its existing office for purposes of expanding its operation. Before purchasing the lots, the city verified that the property was zoned U-4 which permitted commercial use. In March 2003, the city council approved a site plan for conversion of the properties for office use. However [...]

Full post as published by Law of the Land on April 05, 2010 (boomark / email).

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