Despite an influx of young adults to the state, Colorado’s condominium market has been stuck in the mud.
The state’s laws regarding construction defects prompted a spate of law suits over the past decade that caused a spike in insurance premiums. Newly passed legislation now requires that a majority of condominium owners approve builder defect lawsuits, not just a majority of the homeowners’ association board.
Housing experts believe that the change passed by state lawmakers could stimulate new condo construction, but it will be a while before insurance companies start lowering the dollar amount of policies. Opponents of the new regulation say that the change will promote shoddy construction.
One observer noted that if the change doesn’t promote new condo construction, the legislature may have to consider other action.
Related Stories
Codes and Standards | Aug 22, 2019
5G expected to give a boost to construction technology
Virtual reality, Internet of Things, robotics, and drones will all benefit from enhanced data flows.
Codes and Standards | Aug 15, 2019
New edition of Building Code Requirements for Structural Concrete available
American Concrete Institute document includes major technical changes.
Codes and Standards | Aug 13, 2019
Coaching pays off for new managers
Study finds increased engagement and readiness for new roles.
Codes and Standards | Aug 12, 2019
New curtain wall design guidelines released
AAMA document includes mandatory language, optional language, and detailed technical commentary.
Codes and Standards | Aug 9, 2019
Cities modify density zoning to spur more affordable housing projects
Solutions include eliminating single-family zoning and allowing taller apartments in higher-density zones.
Codes and Standards | Aug 8, 2019
More designers focusing on acoustic properties of buildings
Recognition that structures should be acoustically satisfying.
Codes and Standards | Aug 7, 2019
Illinois law makes all single-occupancy restrooms gender-neutral
All must comply by January 1.
Codes and Standards | Aug 6, 2019
New technology, aligning training with local trends among keys to workforce development
Construction industry must also invest in training, recruiting high school students.
Codes and Standards | Aug 1, 2019
Planners, city official rethink parking requirements on new projects
Reducing number of parking spots frees up land for ‘more purposeful’ uses.
Codes and Standards | Jul 31, 2019
USGBC-LA chooses first ‘Net Zero Accelerator’ technologies
Wide range of solutions address numerous environmental challenges.
