Denver’s real estate market is red hot, but the legal landscape is making it tough for condo developers to capitalize on it.
Realtor.com reports that a preoccupation with litigation, particularly from powerful homeowners’ associations, is holding back condo construction in Colorado. Premiums have been made more expensive due to the wide array of problems that insurers are liable for, and developers do not have the option for arbitration before trials.
The site profiles an architecture firm that has just about exited the condo business entirely, only a decade after completing around 10 projects a year before the real-estate crash.
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