ORANGE COUNTY, Fla. – Residents at Regency Gardens Condominiums in Orange County were in fear of losing their homes after learning they need to fill a gap of more than $17 million in the condominium association’s reserves by the year’s end.
But after Tuesday’s meeting with the condo board, residents have a glimmer of hope.
Bryan Pricher, who owns a condo in the subdivision, said the community voted to recall the current board.
“We expected them to reject the recall and force us into arbitration, so this really caught us off guard,” Pricher said.
[EXCLUSIVE: Become a News 6 Insider (it’s FREE) | PINIT! Share your photos]
The recall was certified, and Pricher — alongside two others — replaced the board members, including real estate firm executive Shane Hillsley.
So for now, the looming special assessment and new condo association fees have not been approved for the new budget.
“Everybody feels happy, feel like I can breathe,” a resident said.
Current state law now mandates that condo boards have fully funded reserves by Dec. 31 to cover maintenance, inspections, and potential repairs.
This follows the tragic collapse of the Surfside condos in 2021, which resulted in the death of dozens of people.
Previously, residents’ dues were set to increase by $900, and they were to be charged a flat assessment based on condo size— for smaller homes, more than $11,000, and more than $22,000 for larger homes. All payments were due in full by July 31.
Owners told News 6 they were worried they would have to sell their condos for a lower price or face foreclosure.
Pricher said that although new board members are taking over, he doesn’t want residents to think they can make a miracle happen.
“I would caution the homeowners to temper their hopes a little; the community does need quite a bit of work,” he added.
Pricher said the biggest change he hopes to make is to try to pass a reasonable budget.
“I found your particular article online with this community that almost identically matched with what we’re going through,” said Cindy Blanton, a Palm Bay resident.
She drove down on Tuesday to attend the meeting, though she isn’t a resident. But the board did not allow her inside.
She said Palm Bay Club Condominium owners are also in a battle to win back their neighborhood, and she wanted to connect with other owners facing similar issues.
Winter Park Woods Condominiums and Stone Creek at Wekiva Condominiums in Altamonte Springs are also having the same problems.
“It was mind-blowing, actually. It was sad to see,” Blanton said.
Her homeowner’s condo association filed a lawsuit against Hillsley because the board won’t accept their recall.
“We want our neighborhood back,” Blanton said.
Steven Fieldman, who owns a condo in Stone Creek at Wekiva, said legislators need to create laws to protect homeowners.
“What they’re doing, if it’s not unlawful, it really should be,” he said.
Get today’s headlines in minutes with Your Florida Daily: