The owners of Boulder’s Sterling University Peaks apartments, who this summer were cited for illegally subdividing 92 bedrooms in the complex, have reached an agreement to settle the case for $410,000, the city announced Thursday.
Under the terms of the deal, the owners of the complex, located at 2985 E. Aurora Ave., will pay a $150,000 administrative penalty and $260,000 in restitution to current and former tenants.
The owners will get credit for the $168,000 they’ve already paid to some tenants in the form of refunds, expense reimbursement and rent waivers.
The penalty and restitution amounts are the highest ever paid to resolve a Boulder Municipal Court case, according to the city.
“This settlement underscores both the city’s commitment to upholding safety standards in rental housing in Boulder and the importance of providing compensation to individuals who were directly impacted by the owners’ actions,” said Tom Carr, the city attorney, in a statement.
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