Toll Brothers Conceptual Design.
By Bryan Boggiano
The Parkland City Commission approved a contract with Toll Brothers to purchase 21 acres to develop up to 52 luxury homes on the Former Heron Bay Golf Course.
The commission unanimously approved the $19,500,000 contract at their Aug. 16 meeting, setting the stage to increase development along 65 acres they purchased from the North Springs Improvement District in September 2022.
As part of the purchase, Toll Brothers will also receive an easement along Trails End for vehicle access.
The agreement also outlines multiple payment milestones. This includes $250,000 due within three days of the contract’s approval and an additional $750,000 due within three days of the due diligence period ending, which runs for 75 days after the second reading.
Toll Brothers will also pay the city $10,000 per month through a 15-month entitlement period, where they will seek necessary development approvals. The property’s closing ultimately depends on certain rezoning, plat, and site plan approvals.
According to the contract, if Toll Brothers do not apply for 30 building permits within five years, they will have to pay all impact fees for each housing unit approved, which is up to 52 homes. The contract also incentivizes Toll Brothers not to sell the land to another developer.
If Toll Brothers receive a purchasing offer from another developer, they will have seven business days to notify the city. Then, the city could purchase the property back, but only if they notify the developer within 30 days.
Closing will occur 30 days after Toll Brothers receives all development approvals.
The city commission welcomed the contract warmly, praising the hard work of city staff and Toll Brothers for making the agreement possible while looking forward to navigating the future of the Heron Bay development.
“This is certainly a huge positive step in taking control of our destiny,” said Mayor Rich Walker. “We still have a lot more to go, but I’m looking forward to the outcome of what’s going to happen at Heron Bay.”
The contract received a positive reception from Commissioner Bob Mayersohn, the only commission member who voted against the final purchase on first reading, and the ranking offer that placed them as the city’s first-choice developer.
“They have stepped up, they have come to the table…,” he said. “I will be approving this.”
Ultimately, Walker approved the contract purchase remotely due to being sick. Mayersohn seconded, and the commission approved the contract unanimously.
In a statement, Toll Brothers Southeast Florida District President Alex Martin said, “Toll Brothers is honored and very excited to receive approval from Parkland City Commissioners for our bid on the remaining phase of Heron Bay. We are committed to bringing our distinctive architecture, unrivaled choice, and extraordinary customer experience to this prestigious location in Parkland.”
He added his appreciation of the trust that the city has placed in them to build the final phase of this very special community.
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Author Profile
- A University of Florida journalism graduate, Bryan plans to pursue geosciences at Florida International University for his master's. He has a strong interest in weather, entertainment, and journalism.
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