Owners Win $1.9 Million from Woodcrest
Daryl Strickland covers real estate for The Times. He can be reached at (714) 966-5670, and at daryl.strickland@latimes.com
After only 51 days in mediation, the Northwood Villas Homeowners Assn. in Irvine was awarded $1.9 million in damages from Woodcrest Development, a defunct home builder, the lawyer representing the group said.
The 179-unit condominium community took the case to mediation after finding construction defects that included window and framing damage and water leaks. While disputes in multifamily buildings are common, they seldom are resolved this quickly.
Rather than embarking on a lengthy court case, which would have cost hundreds of thousands of dollars, “it made more sense to pay the cost of repairs,” said Ross Feinberg, the condo owners’ Newport Beach lawyer.
