“For the second year in a row, Colorado lawmakers have introduced a bill aimed at reducing the number of construction-defects lawsuits — and hopefully increasing the number of condos built in the metro area. Senate Bill 177 would push homeowners and builders toward arbitration rather than litigation when homeowners’ units suffer from problems such as leaky windows or crumbly foundations.
Avoiding lawsuits is important, supporters say, because expensive litigation is driving up the cost of building affordable condos, which has led builders and developers to back away from that type of housing. It’s an issue we wrote about in our September 2013 feature story, “Design Flaw.” More than a year later, supporters contend that the situation hasn’t been resolved.
“No condos are being built in Colorado,” Tom Clark, the CEO of the Metro Denver Economic Development Corporation, said at a press conference Tuesday held at an empty parcel of land next to the Yale light-rail station on which affordable apartments — not condos — may soon be built. While the number of condos being built isn’t zero, it’s close, according to bill supporters: They cite statistics that show condos represent just 3 percent of new housing starts in Colorado, which they say is especially bad news for young first-time home-buyers.”
Asmar, Melanie. Westword 11 February 2015.