Managing partner, Brimah LLP, Denver
Common-interest communities are governed through boards of homeowners that serve the association. After a certain period of time, the developer must transition the control of the board to homeowners who own units in the project. The city and county of Denver has joined the city of Lakewood and the city of Aurora in passing an ordinance that addresses construction defect claims in common interest communities in its Council Bill No. 15-0811. The provisions apply to any common interest community created in the city and county of Denver after Jan. 1, 2016. The stated goals of the ordinance are to promote a diverse housing supply and transit-oriented development and to create sustainable neighborhoods. However, the ordinance does not address how a diversity in price points or development near transportation will occur. It is not clear how either issue will be resolved by the ordinance since the results benefit all condominium projects, not just those that create a diversity of housing or are transit-oriented.
Read the entire article in the Jan. 6-Jan. 19 issue of the CREJ.