History
The following is a brief history of the Amber Creek neighborhood:
| March 2003 |
City of Thornton approves the Amber Creek subdivision development plan comprising 332 single family homes, approximately 100 multi-family units and an 18.7-acre commercial/retail site.
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| August 2005 |
The City of Thornton approves the Service Plan for the Amber Creek Metropolitan District. Per the Service Plan, the District was authorized to issue up to $8.0 million in debt at a rate not to exceed 12% interest to finance the construction of the roads, parks, utilities and other public infrastructure in and around the neighborhood.
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| November 2005 |
The Amber Creek Metropolitan District is created and organized.
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| November 2013 |
Voters (comprised of parties related to the Developer) approved the District to issue debt up to a maximum of $41,825,000 at a maximum net effective interest rate of 18% per annum for the purpose of financing the costs of constructing various types of public infrastructure within and without the District.
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| April 2014 |
Stratus Amber Creek LLC acquires the land comprising the Amber Creek subdivision.
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| May 2014 |
The City of Thornton approves the first amendment to the District's Service Plan. increasing the District's borrowing limit by 50% from $8 million to $12 million.
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| October 2015 |
First home in Amber Creek is sold and occupied by a homeowner. Lennar owns 211 single family home lots and Tri Point Homes owns 121 single family home lots.
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| February 2016 |
Thornton City Council approves the second amendment to the District's service plan authorizing the District to provide covenant enforcement services to District residents.
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| April 2016 |
The Declaration of Covenants, Conditions and Restrictions for Amber Creek (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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| August 2017 |
Thornton City Council approves the third amendment to the District's service plan authorizing the District to raise its borrowing limit 67% from $12 million to $20 million.
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| October 2017 |
The District issues three rounds of bonded debt with a total face value of $18,902,000. Senior bonds totaling $15,090,000 in debt was issued to the public at interest rates ranging between 5.000% and 5.125% interest per annum. Subordinate bonds totaling $2,060,000 in debt was issued to the public at a stated interest rate of 7.75% (and a projected annual effective interest rate of approximately 9.465%). Junior Lien Bonds totaling $1,752,000 were issued to Lennar at a stated annual interest rate of 10.625% (and a "most likely" projected annual effective interest rate of 39.4%).
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| May 2018 |
Three homeowners/residents who were not affiliated with Lennar or Stratus were elected to the District Board by the voters in Amber Creek. This is the first time the majority of the District Board is not controlled by directors who are affiliated with Lennar or Stratus.
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| November 2018 |
The homeowner-controlled board hires Wolfersberger, LLC to provide the management and accounting services for the District and hires Paul Rufien to be the District's general counsel.
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General NEIGHBORHOOD Statistics
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Single-Family Homes |
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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 |
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| Homes were constructed between 2017 and 2019 |
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| # of developed lots |
XXXX |
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| # of undeveloped lots |
XXXX |
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Note A -- Living space data excludes the garage and basement.