Toll Brothers Pays $20M for Parkland Golf Course Dev Site

Toll Brothers paid $19.5 million for a site at Parkland’s long-closed Heron Bay Golf Course, with plans for 52 single-family homes.

The Fort Washington, Pennsylvania-based homebuilder plans Saltgrass at Heron Bay on a nearly 21-acre site at 11773 Northwest 70th Place, according to records and real estate database Vizzda. The city of Parkland sold the property to Toll Brothers.

The sale breaks down to $933,461 per acre.

Saltgrass at Heron Bay will consist of four-bedroom and five-bedroom homes, ranging from 2,632 square feet to more than 4,000 square feet, Toll Brothers’ website for the project shows. Ground-up construction and presales haven’t started. Homes will have three-car and four-car garages.

Asking prices are expected to start at $1.6 million, the website shows.

Led by CEO Douglas C. Yearley Jr., Toll Brothers won a 2023 city solicitation for homebuilders to redevelop the Heron Bay Golf Course.

After the 223-acre golf course closed in 2019, the North Springs Improvement District purchased it for $32 million in 2021, according to records and the city of Parkland’s website.

The district, which provides water treatment and management to the cities of Parkland and Coral Springs, retained 150 acres for stormwater management and open space, and another portion was designated for a memorial for the 2018 Marjory Stoneman Douglas High School shooting.

Parkland purchased the balance of the site for $25.4 million in 2023 and solicited offers for redevelopment, the city’s website shows. Toll Brothers beat 10 other developers to purchase the 21-acre portion of the golf course, including second-ranked K. Hovnanian Homes and third-ranked Mattamy Homes.

Toll Brothers, founded in 1967 in Philadelphia by brothers Bruce E. Toll and the late Robert I. Toll, is a luxury homebuilder that also develops apartments, according to its website.

For years, homebuilders have seized on South Florida golf courses as development sites. The large swatches of greens and fairways are one solution to the tri-county’s limited supply of buildable land due to constraints by the Atlantic Ocean to the east and the Everglades to the west.

Last year, Miami-based Lennar and the Toledano family’s Aventura-based BH Group launched sales of a 103 single-family home community they plan on a shuttered 104.3-acre golf course at 19650 Presidential Way near Aventura.

Miami-based 13th Floor Homes plans a 335 single-family home community on the closed Woodlands Country Club at 4600 Woodlands Boulevard in Tamarac.