It's 2009. Can we still talk about Aura?
Settlement reportedly reached in Beauvallon homeowner suit against developer
Denver Business Journal - March 11, 2009
by Paula Moore, staff writer
http://denver.bizjournals.com/denver...9/daily46.html
Parties in a negligence lawsuit related to the Beauvallon condo tower have reached a settlement agreement, according to one side.
The Beauvallon is located at 925 Lincoln St. in downtown Denver.
The condo property’s homeowner group, the Beauvallon Condominium Association Inc., sued project developer Craig Nassi of BCN Development LLC, as well as project contractors in 2007 in Denver District Court. The association alleged BCN and the contractors were negligent in the condo tower’s construction, resulting in construction defects and repairs that cost the association $21.7 million to remedy.
The parties had been in mediation since last year, and most recently had settlement conferences in February and on March 9, according to lawsuit filings.
“The only comment I can make is that a settlement has been put in place,” said a Beauvallon Condominium Association Inc. spokeswoman. “It just happened, so there are no details.”
Joseph F. Smith III of Denver law firm Vanatta, Sullan, Sandgrund, Sullan & Smith, who represents the condo association, declined comment, except to say the parties have been in settlement discussions and the case is “still pending.”
Attorney Chuck Weaver with Wood, Ris & Hames of Denver and representing defendant Beauvallon Corp. was unavailable for comment Wednesday afternoon. Beauvallon Corp. is the Nassi entity that developed the Beauvallon condos.
The 14-story, $100 million Beauvallon was completed in 2005. Asking prices for condo units there initially ranged from $235,000 to $2.2 million.
By 2007, according to the negligence suit and a letter to condo owners, the Beauvallon homeowner’s association had dealt with construction defects and repairs that cost $21.7 million, including replacing the building’s entire exterior.
In addition to Beauvallon Corp., Nassi and BCN, other defendants in the suit include Swinerton Builders and Bighorn Plastering Inc.
The suit’s original complaint, filed April 25, 2007, lists more than 80 problems with the Beauvallon building — from failure to install security cameras in elevators and leaks in the parking garage to failure to install garage doors.
Beauvallon Corp., Nassi and BCN contend the building was constructed within industry standings, and in a “good and workmanlike manner,” according to lawsuit filings. Defendants further stated the building was “fit and sound” for use by condo owners.
Nassi currently isn’t working in metro Denver, and moved BCN’s headquarters to New York. The company still is incorporated in Colorado, according to Colorado Secretary of State records.