Florida condo owners hit with bills up to $320K after $1.6M repair job explodes to $36M

Florida condo owners are being slapped with staggering six-figure assessments after a building repair project initially priced at $1.6 million ballooned into a $36 million overhaul.Residents at The Galleon, an oceanfront condominium on Fort Lauderdale’s Galt Ocean Mile, are now being assessed between $135,000 and $320,000 per unit for a concrete restoration project that has already dragged on for five years, according to CBS News Miami.The sprawling project has transformed parts of the beachfront property into a construction zone, with work stretching across multiple floors and the building’s pool and patio area stripped down to a concrete platform.But even after years of work — and tens of millions of dollars in mounting costs — some homeowners say problems remain.Sergio Cella, a pilot and mechanical engineer who has lived at The Galleon for 30 years, told CBS Miami that workers have tried three separate times to repair cracking on his 14th-floor balcony.“The quality is not there,” Cella told the outlet, describing the situation as “despicable.”The contractor, Hartzell Construction, disputes the suggestion that it is responsible for the enormous increase in the project’s price.The company said its original agreement covered a much more limited amount of structural restoration.As crews proceeded, the condo association expanded the scope through numerous change orders and additional contracts approved by the association.

The result has been a dramatic escalation from what residents originally expected to pay.What began as an estimated $1.6 million job has now swelled to roughly $36 million — more than 22 times the initial figure.And that cost is being passed along to homeowners.Depending on the size of their units, residents are facing special assessments ranging from roughly $135,000 to more than $320,000, turning what began as a building-maintenance project into a potentially life-altering financial burden for some owners.The escalating constru...