ARAPAHOE COUNTY, Colo. — Club Valencia condo owners are now receiving bills — some more than $2,000 — for damage assessments one year after a fire ripped through the Arapahoe County complex.
Around 165 units are still uninhabitable after two major fires within the past year — the first in November 2022 and the second in February 2023. Asbestos contamination and smoke damage are among a list of reasons the county has deemed the impacted units unsafe, prohibiting residents from returning.
Both of Club Valencia's claims were denied by insurance.
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Alex Kishinevsky received a letter in October from Club Valencia’s homeowner association (HOA) stating he owes more than $2,600 for one of his units. The HOA said it was a loss assessment fee that will help pay for repairs for the November damage.
"Not real happy because in addition to that, I still have to pay the HOA fee for the unit that burned down,” said Kishinevsky.
Kishinevsky owns several units at Club Valencia and rents them out to tenants. He had to pay a loss assessment fee for each one, even if the units were not damaged.
Kishinevsky said his homeowner’s insurance covered the fees, but he still had to pay the deductibles.
"Over $500 per unit, and my other policy is $1,000,” said Kishinevsky.
In total, Kishinevsky has paid roughly $3,000.
Every condo at Club Valencia received a letter. The HOA said if a loss assessment fee was not received within 30 days of the notice, it would send the owner to collections.
Condo owners can request a payment plan, but it would need to be approved by the HOA, according to the letter.
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Denver7 reached out to the HOA, which shared Club Valencia’s declarations and bylaws documents. The declarations document states proceeds of a special assessment would be collected from all owners if insurance proceeds were not enough to repair and reconstruct the units.
Damages at Club Valencia exceed $20 million, according to the HOA's public adjuster. The adjuster said the condominium is taking a compassionate approach to assessments.
“We're hoping for better days. One time it was a thriving community. Hopefully it will return to its best form,” said Kishinevsky.
The public adjuster said it could take years until repairs and testing are complete.
It is unknown if condo owners will be forced to pay a second loss assessment for the February fire.
