History
The following is a brief history of the BNC Metro District No. 2 (aka Turnberry North) neighborhood:
| November 2000 |
The Developer creates the BNC Metropolitan District. |
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| June 2003 |
Commerce City approves the Linden subdivision development plan, which reflects 311 single-family home lots
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| January 2004 |
The Developer splits BNC Metro District into three separate districts. BNC Metropolitan District No. 1 covers the southern half of the Turnberry neighborhood (between 108th Avenue and 104th Avenue). BNC Metropolitan Distirct No. 2 is created to cover the northern half of the Turnberry neighborhood (108th Avenue to 112th Avenue). BNC Metropolitan District No 3 covers land located on the south side of 104th Avenue. |
| January 2004 |
The Turnberry Meadows Homeowners Association, Inc. (HOA) is incorporated and assumes responsibility for enforcing the CC&Rs and providing architectural review services to the neighborhood. All homeowners become shareholders in/owners of the HOA. |
| August 2004 |
The Community Declaration for Turnberry Meadows (i.e. CC&Rs) is filed and the lots in the neighborhood are annexed into and become subject to the CC&Rs.
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| February 2005 |
The District issues bonds totaling approximately $5.0 million to finance the build-out of the neighborhood's streets, sidewalks, park, utility lines, perimeter fencing, open space landscaping and storm water drainage infrastructure. The Developer (Catellus Acquisition Company, LLC) is the lender in this transaction (and owner of the $5 million bonds).
Annual interest payments on the bonds is $400,000 (8% per annum) but the Developer-owned land within the District generated less than $25,000/year in property tax revenue for the next 13 years (through 2017). By December 2019, when these bonds are refinanced, compounding, unpaid interest in this $5 million bond totaled $2.58 million.
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| May 2005 |
Developer completes construction of the Turnberry community swimming pool.
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| September 2010 |
Construction of Turnberry Elementary School is completed and school is opened to the public.
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| June 2012 |
King Soopers opens its doors for business (located at the intersection of 104th Avenue and Chambers Road)
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| August 2016 |
Commerce City completes construction of the 9.5 acre Turnberry Park
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| February 2019 |
The first of 271 single family homes lots purchased by Lennar from Catellus CC Note, LLC is constructed and sold to a homeowner.
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| December 2019 |
The District issues bonds totaling approximately $13.8 million (net of $7.3 million used to refinance the 2005 bonds) to finance the build-out of the neighborhood's streets, sidewalks, park, utility lines, perimeter fencing, open space landscaping and storm water drainage infrastructure.
The Developer (Catellus Acquisition Company, LLC) is the lender in this transaction (and owner of the $21.1 million senior and subordinate bonds).
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| May 2020 |
Three homeowners are elected to the District board. This is the first time the majority of directors on the Board are independent and do not have conflicts of interest serving on the District's board.
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General NEIGHBORHOOD Statistics
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Single-Family Homes |
|
High |
Low |
Average |
| Lot size |
0.xx acres |
0.xx acres |
0.xx acres |
| Living space (Note A) |
x,xxx sqft |
x,xxx sqft |
x,xxx sqft |
| Garage size |
xxx sqft |
xxx sqft |
xxx sqft |
| Basement size |
x,xxx sqft |
xxx sqft |
x,xxx sqft |
| Bedrooms |
X rooms |
X rooms |
X rooms |
| Bathrooms |
x.x bathrooms |
x.x bathrooms |
x.x bathrooms |
| Other Data |
| # of homes with no basements |
XXXX |
|
|
| Homes were constructed between 20XX and 20XX |
|
|
| # of developed lots |
XXXX |
|
|
| # of undeveloped lots |
XXXX |
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Note A -- Living space data excludes the garage and basement.