Toll Brothers Conceptual Design.
By Bryan Boggiano
Parkland is one step closer to sealing the deal with Toll Brothers to construct luxury homes on the former Heron Bay Golf Course. The commission approved a purchase and sale agreement with the developer at their July 12 meeting.
The city commission will hold a second and final vote at their Aug. 16 meeting.
Their vote follows their purchase of 65 acres of the former golf course in September from North Springs Improvement District for $25,410,000. The city closed on the purchase on Jan. 6.
City plans involve developing 21 acres of that land, known as the dogleg, into luxury residential properties.
On May 17, potential developers discussed plans with the commission at their special meeting. At the meeting’s close, the commission directed Colliers, a real estate broker, for developers to submit their best and final offers with no more than 52 homes on their plans.
Parkland City Commission. {Bryan Boggiano}
The city ultimately received three offers from Mattamy Homes, K. Hovnanian, and Toll Brothers. On June 7, the commission approved a ranking sale offer, placing Toll Brothers at the top of their list.
Since then, the city and Toll Brothers negotiated a contract, which set several stipulations.
Toll Brothers will pay $375,000 for each lot approved, which would be $19,500,000 if the city approves 52 houses. This depends on the development review process.
As part of the contract’s final approval, the company will be granted the Trails End easement to allow for vehicle access. They will also need to pay $250,000 within three days of the approval. The due diligence process will take 75 days. If Toll Brothers decide not to back out, they will pay $750,000 within three days of the period’s end and $10,000 monthly. Following this, there will be a 12-month entitlement period.
The contract does not approve of the underlying development. Closing on the property is dependent on rezoning, plat and site plan approvals, and the city’s development review and planning and zoning approval processes.
Commissioners expressed concerns about delays in development and the prospect of Toll Brothers potentially selling the land. Under the agreement, Toll Brothers could be liable for further payment and impact fees if significant delays occur.
In response to selling the land, Lindsay Parsons, director of land acquisition, said to the commission it was not Toll Brothers’ intention to sell the land. Still, no contractual guarantees are disallowing further land sales. However, City and Toll Brothers officials expressed willingness for legal negotiations to address this.
The commission also expressed their desire to integrate the new development within Heron Bay’s HOA, iron out further details with the HOA, and work with Toll Brothers, an affiliate or a subsidiary throughout development.
Vice Mayor Simeon Brier moved to approve the contract’s first reading, which Commissioner Jordan Isrow seconded.
It passed 4-1. Commissioner Bob Mayersohn opposed the measure, citing concerns with how the HOA would spend the $500,000 Toll Brothers would give them as part of the agreement.
“We do have a long way to go, and we do have some issues that we’ve gotta work out, but I’m confident that with a community-oriented approach and a partnership approach, we will do that,” Brier said.
Send your news to Parkland’s #1 Award-Winning News Source, Parkland Talk. Don’t miss reading Tamarac Talk, Coral Springs Talk, Coconut Creek Talk, and Margate Talk.
Author Profile
Related
NewsNovember 22, 2023Parkland City Commission Recognizes 2 ‘Mayor for a Month’ Participants
NewsNovember 13, 2023Jordan Isrow Named Parkland’s New Vice Mayor
NewsNovember 12, 2023Parkland Commission to Vote on $600K in Upgrades for Wedge Preserve Park Development
NewsNovember 3, 2023Soldier Rush Obstacle Course Competition Races into Parkland Nov. 11
