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A healthy housing market includes a wide variety of options to meet the needs present in the market. Condos and townhomes represent a key segment of the marketplace but, is facing serious challenges.
A key challenge to a healthy condo/townhome market is the state’s current construction defects law, which has created a disincentive to new condo/townhome development.
HF1538, which passed the legislature with broad bi-partisan support and was signed into law by Governor Dayton will remove current barriers to developing owner-occupied condos/townhomes.
The Law Does the Following: