About Riverchase Estates
Riverchase Estates Property Owners Association is currently a developer owned and managed community. Parent company LGI set up Riverchase Partners, LLC, and they are the entity that sells lots to owners, so that owners can hire their own builders to build custom homes. It is the developers’ intention to sell land to owners so they can build upscale unique custom homes to go along with the beautiful amenities and great quality of living for Riverchase Estates owners.
The developer put in place the Declaration of Covenants Conditions and Restrictions (CCR’s) which include a property owners association (POA) with the intention that all owners pay assessments to cover the financial needs for the amenities that have been turned over to the POA that members use. LGI pays for the development needs in addition to the care of the roads at this time. LGI serves as the Board of Directors for the POA and makes all POA decisions for the community until they complete selling their desired number of lots and are ready to turn over control of the POA to the community members. This is addressed in the CCR’s under the Control Period. Once all phases of the development are completed, the community is expected to have approximately 1100 Lots in total. To date just over 220 lots have sold and we have been told to expect there to be at least 6 more years of development and sales at the current rate.
Key Community Management (Key CMI) is an independent company that manages homeowner associations and condominium associations all over the Charlotte region. We provide the administration of community financials, governance, training for boards, as well as compliance and maintenance assistance. We help communities navigate through their various challenges as they grow and change. Key CMI enjoys helping neighbors meet and build community friendly environments for all owners to live in and enjoy.
LGI has hired Key Community Management (Key CMI) to handle the administration of Riverchase Estates POA and assist the homeowners with various needs related to the development. The LGI board makes all decisions and directs the management to carry out any decisions made. LGI does not offer any member meetings, however, they do permit Key CMI to meet with property owners periodically to assist with various needs. Any Board or development concerns brought to Key CMI are forwarded to the LGI Board of Directors for response and direction. Any and all actions taken by Key CMI are at the direction of the board.
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