IIRC,
bunt brought this up at the time it occurred. Seems he was correct in his assessment.
'Vallagio' ruling means homeowners may not get day in court in construction defects claims
Mar 29, 2018 by By Monica Mendoza – Reporter, Denver Business Journal
Quote:
But since the June 2017 Colorado Supreme Court ruling in the case Vallagio at Inverness Residential Condo Association vs. Metro Home, Inc...
“The Vallagio decision is the most important thing to affect condo development and construction in the last 10 years,” said attorney John Mill, a construction attorney at Sherman & Howard who represents developers, general contractors and home builders. "I think the Vallagio decision, long term, creates a more positive environment for condo development and that will encourage developers and contractors to build more over time."
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Reason for optimism?
Quote:
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J.J. Ament, CEO of the Metro Denver EDC, said it will take time to see if the Vallagio ruling will help the condo market relaunch. "We think with the removal of the impediments to the market, it will begin operating efficiently," he said. "We believe supply will meet demand."
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Going back a few years it's clear in hindsight that the bigger issue was that it was just sooo much easier to profitably build apartments so why screw with a condo development?
Now, with the backdrop of land and construction costs that have escalated substantially, it's a different dynamic of difficulty.
What I'd like to see is somebody (with decent financial backing), start building more affordable TOD condos. Presumably, it will never be easy peasy like in the past. But doable? Hopefully yes.