Colorado Senate Bill 177 was passed by the Colorado Senate a few weeks ago, and moved on to the State House. It looks now like the Bill will die in the Colorado house. SB 177 aims to limit homeowner associations ability pursue claims for defective construction in Court and require disclosures aimed at discouraging such cases. The Denver Post today reported that the bill “appears bound for a legislative burial in the House” as the bill was sent to a committee likely to kill the bill, and will not likely reach the governor’s desk.
Lakewood representative Max Tyler is quoted in the Post as saying “This is a big complex problem, and its only being dealt with by saying, ‘Well, if we only fix this one little thing, everything will be fine.’ But that’s not reality. The way to deal with construction defects is to stop defective construction.”
In related news, Business Den reports a multifamily residential construction boom is taking place in the Sloan’s Lake area of Denver. According to the article, Legacy Capital Partners announced plans to build a 24-unit row house development in the area (in addition to a multifamily project in Cherry Creek). Additionally, Treehouse Development is finishing a 22 unit development, and Alpert Cos. is planning two multifamily developments in the neighborhoods surrounding the lake.