Toll Brothers has acquired a 21-acre portion of the former Heron Bay Golf Course in Parkland for $19.5 million, with plans to develop 52 single-family homes on the site. The property is located at 11773 Northwest 70th Place and was sold by the city of Parkland, according to records and information from real estate database Vizzda.
The purchase price equates to approximately $933,461 per acre. According to Toll Brothers’ website for the project, Saltgrass at Heron Bay will feature four-bedroom and five-bedroom homes ranging from 2,632 square feet to more than 4,000 square feet. Each home will include either a three-car or four-car garage. Construction and presales have not yet begun, but asking prices are expected to start at $1.6 million.
Toll Brothers is led by CEO Douglas C. Yearley Jr. The company secured rights to redevelop this section of the golf course after winning a solicitation process conducted by the city in 2023.
The original Heron Bay Golf Course spanned 223 acres before closing in 2019. In 2021, the North Springs Improvement District purchased it for $32 million and retained about 150 acres for stormwater management and open space purposes. Another part of the land was set aside as a memorial for victims of the Marjory Stoneman Douglas High School shooting that occurred in 2018.
In 2023, Parkland bought what remained of the site for $25.4 million and then sought proposals from developers interested in redevelopment opportunities. Toll Brothers outbid ten other companies for this parcel; K. Hovnanian Homes placed second and Mattamy Homes came third.
Founded in Philadelphia in 1967 by Bruce E. Toll and Robert I. Toll, Toll Brothers is known as a luxury homebuilder and also develops apartments.
Developers have increasingly targeted South Florida’s closed golf courses as sites for new housing projects due to limited available land between the Atlantic Ocean and Everglades region (https://therealdeal.com/miami/2023/03/14/homebuilders-flock-to-south-florida-golf-courses-for-redevelopment/). For example, Lennar along with BH Group recently began sales on a community planned on another shuttered golf course near Aventura (https://therealdeal.com/miami/2023/07/10/lennar-bh-group-launch-sales-at-aventura-area-home-project-on-former-golf-course/) while Miami-based 13th Floor Homes has announced plans for hundreds of homes on Tamarac’s closed Woodlands Country Club (https://therealdeal.com/miami/2022/09/23/heres-what-13th-floor-has-planned-for-tamaracs-woodlands-country-club/).
