12/16/12 – The Vaux façade is a combination of brick and wood veneer panels made of a composite material called Parklex. Of the 2,000 or so individual panels, about 300 became discolored soon after installation. Although there was never any structural consequence, the discoloration has degraded the aesthetic value of our condominium, a situation deemed unacceptable by the Owners' Association.
After a long negotiation, last Sunday at a special meeting The Vaux Board approved a settlement with The Vaux's developer, TCR, and the Spanish manufacturer of the panels, Composites Gurea, S.A. The result is that the manufacturer will supply the necessary replacement panels free of charge, plus some of the cost of the replacement labor. The Vaux HOA will hire a contractor to perform the replacement and will bear the rest of the cost. Work is expected to begin in the spring.
Residents wishing more detail can find the official notice of settlement here.