Homeowners Association Secures $6.4 Million in Arbitration Win
Significant Legal Victory for Homeowners
The Parkes at Stonebridge Townhome Owners Association recently celebrated a landmark victory in their arbitration case against Dream Finders Homes, which awarded them $6.413 million. This decision highlights the importance of holding developers accountable for construction quality and safety.
Background of the Case
The legal battle arose after Dream Finders Homes constructed the 92-unit townhome community from 2018 to 2021. Despite promising homeowners peace of mind, residents soon encountered severe construction issues such as deteriorating driveways and uneven sidewalks, which posed safety risks.
Construction Issues Identified
Residents reported dangerous conditions, particularly during winter when sidewalks became icy and hazardous. The community experienced issues like water accumulation and slippery algae, leading to injuries among homeowners. Unfortunately, repair attempts made by Dream Finders proved inadequate and only created more problems.
Arbitration Process and Outcome
After unsuccessful attempts to settle amicably, the Association moved forward with arbitration. They successfully claimed negligence and breach of contract against Dream Finders. The arbitration award included $5,733,471 for repair costs and $679,732 for litigation expenses.
Legal Precedents Established
The Arbiter emphasized that Colorado law supports awarding costs to the prevailing party and ruled that any attempt to limit these rights through contractual waivers would be considered void. This ruling sets a precedent for future cases, reinforcing the rights of homeowners against negligent construction practices.
Response from the Lead Attorney
Heidi Storz, the lead attorney for the homeowners, expressed her satisfaction with the ruling. She highlighted that the decision would serve as a warning to developers about the repercussions of poor construction and the accountability that will come from it.
Current Status of Dream Finders Homes
While Dream Finders has partially paid the arbitration award, they are yet to fulfill all obligations, including post-judgment interest. In response, the Association has filed a motion in District Court to enforce the judgment, indicating their commitment to holding the builder accountable.
Looking Ahead
As of mid-2024, Dream Finders Homes has completed nearly 2,000 constructions in various areas. They continue to build new homes, yet this case may impact their reputation and business moving forward.
Contact Information for Legal Assistance
The law firm of Kerrane Storz, P.C. remains dedicated to representing homeowners in similar construction defect cases across the region. If you have concerns about construction defects in your community, you can reach out to:
Heidi Storz
hstorz@kerranestorz.com
www.kerranestorz.com
Frequently Asked Questions
What was the main issue that led to the arbitration case?
The main issues were severe construction defects, including crumbling driveways and dangerous sidewalks, which posed safety risks to the residents.
How much did the Association win in arbitration?
The Parkes at Stonebridge Townhome Owners Association won a total of $6.413 million in their arbitration case.
What did the Arbiter conclude about the legal rights of the homeowners?
The Arbiter affirmed that Colorado law allows for the recovery of litigation costs for the prevailing party, and any contractual waivers to limit rights are invalid.
What actions are being taken if Dream Finders does not comply with the award?
The Association has filed a motion in court to enforce the judgment and ensure that all amounts owed are paid.
Who is Kerrane Storz, P.C. and what do they do?
Kerrane Storz, P.C. is a law firm representing homeowners in Colorado and Texas in cases related to construction defects.
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