Denver To Take Up Measure Aimed At Boosting Condo Construction
In an effort to address the lack of condo construction in the city, the Denver City Council will vote Monday night on an ordinance making it harder to sue builders.
The city says condos make up just 4 percent of all new housing. Mayor Michael Hancock and developers argue that a rash of homeowner lawsuits are to blame. It’s too easy, they say, to sue for supposed construction defects.
So the city wants to make it harder by not allowing lawsuits for minor technical violations of building codes and requiring a majority of homeowners in a building to sign off on a lawsuit.
Homeowner advocates argue lawsuits are a critical tool to fix sometimes grave errors in construction. They say larger economic forces and tough mortgage rules are leading to apartment building at the expense of condos.
Condo construction is lagging nationwide, The Wall Street Journal reported over the summer.
You want to know what is really going on these days, especially in Colorado. We can help you keep up. The Lookout is a free, daily email newsletter with news and happenings from all over Colorado. Sign up here and we will see you in the morning!