The proposed area for development in Parkland.
By Bryan Boggiano
Development on the former Heron Bay Golf Course is moving forward.
The city commission will discuss various residential development proposals for the “dog leg” part of the former Heron Bay Golf Course at a special meeting on Wed., May 17, at 4 p.m.
The dog leg part of the former Heron Bay Golf Course is located along the eastern side of the property and is about 21 acres. It runs parallel to Nob Hill Road before turning west toward Heron Bay Drive.
Real estate company Colliers International Florida received 11 proposals from developers. Four made the shortlist: Ascend Mizner, D.R. Horton, Kenco Communities, and Toll Brothers.
The proposals have between 42 and 63 homes and different purchasing prices. All, however, have access to the new residential properties from Heron Run Drive.
At their Wednesday meeting, the commission could vote on one of those proposals, although the final course of action at the meeting has yet to be announced.
The special meeting follows the city commission’s purchase of the former Heron Bay Golf Course from North Springs Improvement District in September and a call to developers in March.
Information on each proposal is below.
Ascend Mizner (Ascend Properties and Mizner Development)
The preliminary conceptual site plans call for 60 custom estate homes, each on a lot measuring 75 feet wide by 140 feet deep. According to the proposal, each home’s size will be 3,800 to 5,500 square feet.
Most will have 3-car garages, all will include swimming pools, and there will be one- and two-story homes with traditional classic coastal modern architecture.
The proposal also includes multiple areas dedicated to green space and a 42-foot-wide access roadway.
The purchase price would be $15,250,000, or about $254,167 per lot, if approved. Within three business days, the companies would pay $152,500. It will be followed by a 75-day investigative period, where the developers can back out of the purchase.
An additional $660,000 would be due at the end of the due diligence period, which is 90 days following the purchase approval.
The preliminary design phase would last 90 days; entitlement would last 270 days, followed by construction documents and permitting at 120 and 180 days, respectively.
Site developments, construction, and sales would take about four years, while closeout and turnover would last 90 days.
The Ascend-Mizner proposal does not specify the tax revenue increase to the city or HOA strategies.
D.R. Horton
The proposed development calls for 63 houses. The developer would purchase each lot for $350,000, amounting to $22,050,000.
Upon agreement to purchase, D.R. Horton will deposit $25,000. At the end of a 120-day inspection period, they will deposit another $1,077,500.
Closing will occur 15 days after the developer satisfies several conditions, including city, county, and water district approvals.
The proposal does not list any tax revenue increases or HOA strategies.
Kenco Properties
This proposal calls for 42 custom, modern, boutique homes ranging from 3,500 to over 5,000 square feet. Each lot will be 80 feet by 130 feet.
Preliminary plans also include upscaled landscaping throughout and on buffers of entry, in addition to park space.
Upon contract approval, Kenco would deposit $200,000 and an additional $475,000 at the end of a 90-day inspection period. Closing would occur five months following the inspection period.
The purchase price would be $13,500,000, or about $321,429 per lot.
The total additional annual tax revenue would be $2,256,044.66. This assumes 42 new homes at an average price of $2,705,000, totaling $113,610,000. The average tax revenue is roughly 1.986 percent.
Kenco would work with the city and the Heron Bay HOA to collaborate further on design.
Toll Brothers
The Toll Brothers preliminary plans call for 52 homes, each with an area of 3,200 to 5,500 square feet, on lots roughly 76 feet by 130 feet.
Home prices will be approximately $1,700,000.
The total purchase price is $16,500,000. Of that, $500,000 will go to the Heron Bay HOA, while the rest goes to the city.
Upon contract approval, Toll Brothers would pay $250,000, followed by an additional $750,000 at the end of a 90-day inspection period. Due diligence will begin in June and continue through September.
Additional tax revenue from the project would be $1,673,684. Of that, $474,825 would go to Parkland. Developers will also pay roughly $2.1 million in one-time service impact fees to Parkland and approximately $600,000 to NSID.
The city would receive a site plan and zoning by May 2024, and development would commence in June 2024.
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