Buckhead Investment Partners of Houston, the developer of the controversial Ashby Tower high-rise in Houston, will not have to pay $1.2 million in damages to neighboring residents. Ashby Tower has been making waves in the Houston community since 2007. Residents of surrounding neighborhoods such as Boulevard Oaks have continued to petition the city against the development, citing lower property values since it was built and seeking damages for lost equity dollars. Some 29 neighborhood residents are named in the case, several of whom have filed jointly, and they were awarded $1,200,000 in damages by a jury in 2014. However, the appellant, 1717 Bissonnet, LLC, fought the suit on the grounds that it would impossible to determine damages from a building that has yet to be built, and the Texas Fourteenth Court of Appeals overturned the 2014 verdict on June 30. Text from the Opinion of the Fourteenth Court of Appeals reads: We reverse the portion of the judgment awarding ...
- Residents of surrounding neighborhoods have continued to petition the city against the development, citing lower property values since it was built and seeking damages for lost equity dollars.
- Texas' Fourteenth Court of Appeals overturned the 2014 decision granting residents $1.2 million in damages.
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