Do I have any legal recourse with the homeowners association? (see details)

A home is being constructed immediately to the west of us (by a different builder) that is completely blocking our view of the front range. While we knew another home would eventually be built on that lot we expected that the covenants would protect our views. We did not anticipate the odd position of that house and especially not the excessive height. I believe that this other home does not meet covenants. While a walk-out basement is permitted on the lot, they put in what is called a forced basement ¿ in other words they didn't dig down at all but rather built the rest of the area around it up. I believe that the homeowners association was negligent in approving the layout and architecture for this other home. This is a neighborhood where the views are everything and the views have a significant impact on the value of the homes in the neighborhood. The homeowners association should know this and should have considered how all neighbors were affected.