Surge in Apartment Construction Fuels Condo Conversions

by Law Week Contributor

Colorado’s Front Range has seen a dramatic increase in apartment construction over the past 10 years. The Downtown Denver Partnership reported that in 2007, 112 apartments were built compared to 870 condos in Denver’s central neighborhoods. By July 2013, the ratio was reversed — 78,100 apartments were planned or under construction compared to 145 condos. This surge in apartment construction will likely result in condominium conversions.

Colorado’s Statute of Limitations and Statute of Repose

Colorado’s two-year statute of limitations applies to all claims against “construction professionals.” The period runs from the date the claimant discovers or should have discovered the physical manifestations of the defect in property.

A statute of repose bars all lawsuits regardless of whether the claimant knew of the alleged defect or had actual injury. Colorado’s repose bars all construction claims brought over six years “after substantial completion of the improvement to the real property.” An exception allows for claims to be filed up to eight years, if the action arose during the fifth or sixth year after substantial completion. “Substantial completion” is not defined, but occurs, at least, when a certificate of occupancy is issued.

To read this story and other complete articles featured in the October 22, 2018 print edition of Law Week Colorado, copies are available for purchase online.