Eminent Domain Lawsuit Results in $12.2 Million Jury Award to Property Owner, Reports Deal Sikes
“A jury has awarded a Houston property owner compensation of $12.2 million – almost four times the amount originally offered by the State of Texas – for the eminent domain taking of land for the construction of the Grand Parkway in north Houston, according to Deal Sikes, a Houston-based real estate valuation and eminent domain counseling firm.
Using the power of eminent domain, the Texas Department of Transportation acquired about 44 acres of land along Boudreaux Road east of State Highway 249, offering to pay $3.2 million in 2014. The remainder of the property owner’s land holdings there, about nine acres, also lost value due to the eminent domain taking, Deal Sikes determined.
At the conclusion of a trial in Houston, a jury decided the State of Texas should pay $12.25 million to the property owner. The findings of the jury closely followed the appraisal of the land by Deal Sikes, a Houston-based real estate valuation firm with deep experience in eminent domain cases.”
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Business Wire 25 February 2019.