BKSN recovers $6,891,499 for Broomfield HOA against Standard Pacific for Defective Retaining Wall
Benson, Kerrane, Storz & Nelson received a final arbitration award today against Standard Pacific for a Broomfield, Colorado townhome association for construction defects related to its retaining wall, among other issues. After payment of all fees and costs, the HOA will receive $6,891,499 to begin making repairs to their community. The arbitration award in this case is believed to be one of the largest construction defect arbitration awards in Colorado.
In late 2012, Standard Pacific received a recommendation from its engineer to monitor a slope and retaining wall at the HOA. Standard Pacific failed to act on this recommendation or to notify the HOA for more than a year. By late 2013, the HOA notified Standard Pacific of its own concerns about the slope and retaining wall, and sent Standard Pacific a formal Notice of Claim in early 2014. Instead of responding to the Notice of Claim, Standard Pacific filed for arbitration and stopped making certain warranty repairs at the HOA. During the arbitration, rather than agreeing to repair the retaining wall, Standard Pacific proposed to bury the retaining wall with dirt.
Prior to trial, Standard Pacific offered to settle the case for $1,200,000, an offer the HOA rejected.