Common Interest Communities

Development constraints on housing in fast growing urban areas contribute to the housing affordability crisis and to financial inequity. Condominium ownership is now recognized as a critical tool for alleviating unaffordability and creating housing equity in our urban centers.

Overview

Stoel Rives has established one of the most active common interest ownership practices in Washington. Our attorneys are known for their knowledge of common interest ownership law, their understanding of the development and construction industries, and their practical solutions to legal and business issues. We can assist with the development, marketing, and sale of residential, mixed-use, and industrial projects, whether structured as traditional condominiums, airspace condominiums, subdivisions, planned unit developments, or cooperatives. We can also assist with construction contracting and construction litigation.

Our Services

  • Structuring complex co-ownership regimes
  • Creating mixed commercial and residential developments
  • Negotiating rights and responsibilities of major owners and tenants in mixed-use projects
  • Planning multi-phase communities
  • Complying with the Interstate Land Sales Full Disclosure Act
  • Anticipating secondary mortgage market requirements for residential projects
  • Controlling exposure to construction defect claims
  • Coordinating construction and design contracts with developer warranty risks
  • Establishing wrap insurance programs
  • Defending construction defect litigation
  • Restructuring failed co-ownership projects
  • Expanding and modernizing existing co-ownership communities

Industry Leaders

We are actively involved in Washington state legislative matters relating to common interest ownership and real estate development. In recent years, we have drafted and testified and negotiated for legislation amending the Washington Horizontal Properties Regime Act, the Washington Condominium Act, the Washington Homeowners Association Act, and the Washington Common Interest Ownership Act, including warranty reform and housing production.

Matters
  • Created a master and sub condominium regime for 900-unit, mixed-use project containing for-sale residential, long-term rental, short-term stay and retail uses in two high-rise towers.
  • Created a mixed-use airspace condominium regime containing 710,000 square feet of office space, 180,000 square feet of retail space, 245 hotel rooms and 230 residence units in a multi-tower, high-rise project.
  • Created a multi-phase, mixed-use, high-rise condominium containing 698 residential units and 25,000 square feet of commercial space and registered the project under ILSA.
  • Created a 130-unit, multi-phase, detached single-family airspace condominium, including creation of 33-acre wetland bank, and creation of shared storm water system with nearby developments.
  • Converted a 225-unit, multi-building apartment project into a condominium.
  • Created a mixed-use community, including a master ground lease, a 150- unit, mid-rise, mixed-use leasehold condominium, 25 attached for-sale leasehold townhomes, office and retail centers, and reciprocal easement and development agreements.
  • Acquired the development rights to create 90 additional units in an existing 150+ unit condominium from a foreclosing lender, negotiated an extension modification of the development rights with the association and added the new units to the community.
  • Terminated and sold a 130+ unit condominium and wound up the condominium association.
  • Amended the condominium regime for a public market to add a renovated multi-story building and a new eight-story building and created new reciprocal easement agreement.
  • Created a one-million-square-foot, mixed-use condominium including office and retail development.
  • Created a 670-unit, multi-phase, common interest community containing residential lots, residential condominiums, commercial lots, and commercial condominiums.
  • Created a condominium regime for an 18-acre, commercial mixed-use retail, office and residential development.
  • Merged two residential condominium associations totaling 122 units and terminated a prior reciprocal easement regime.
  • Wound down, terminated, and sold a 1,000-unit timeshare condominium.
Team
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