The first development in the area referred to as the “Wedge” will break ground Tuesday.
A 450-home community known as Watercrest at Parkland will be built on 288 acres by California-based Standard Pacific Homes.
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Sales on 12 models will start in early 2013. The homes will be one-and two-story single-family homes ranging from 2,000 to 5,000 square feet. Prices range from mid-$300,000 to mid-$700,000, said Dan Grosswald, South Florida president for Standard Pacific Homes.
The community will be built around a 150-acre lake. There will be a security gate and parks throughout the community, along with tennis and basketball courts. Tuesday’s groundbreaking will be for lake dredging; home construction should begin late this year once all permits have been completed.
“It’s been talked about for so long, it’s been in the city’s plans for a decade for that property,” said Mayor Michael Udine.
The 53-acre property is in what is known as the Wedge area, off Loxahatchee Road and south of the Hillsboro Canal. The 1,900 undeveloped acres in the Wedge belonged to Palm Beach County before a boundary change made the site part of Parkland and unincorporated Broward County in 2009.
Parkland has annexed 700 acres already. In September, an additional 508 acres will be annexed, including 53 acres the city wants to buy for $4.25 million to turn into a park.
Once the Wedge is fully built out, some estimates have Parkland’s population rising by about 15,000 people. Udine said land has already been set aside for an elementary, middle and high school to accommodate the growth.
“Parkland is very hot right now,” Udine said. “People want to move to Parkland.”
He points to Toll Brothers construction as another example. In late 2010, Toll Brothers acquired Parkland Golf Country Club from WCI Communities, which is building in nearby Heron Bay. Parkland Golf Country Club has about 450 existing homes, and Toll Brothers will build about 400 more. Prices range from $400,000 to more than $1 million.
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