PARRISH -- More than 1,000 new homes could soon be popping up in Parrish if the project's developer gets an OK from the county to establish a community development district there.
Reynold Glanz and his company, S.R. 62 Holdings, LLC, are petitioning Manatee County to create a CDD for his Cone Ranch South project, located on agricultural land north of State Road 62, about a mile east of U.S. 301.
If approved by county commissioners, the CDD would allow the developer to levy taxes on future homeowners within the development to pay for infrastructure and improvements there, including the widening of Spencer Parrish Road to four lanes and its extension north through the property, and the addition of turn lanes on State Road 62.
S.R. 62 Holdings first purchased 1,176 acres of cattle ranch property for $32.5 million in 2005 in what was then believed to be the largest vacant land sale in Manatee County history, according to Herald archives. But Glanz and the company gave up about half of the property in a foreclosure case last year, court records show.
The current Cone Ranch South project now encompasses 595 acres and would include 1,107 residential units, a combination of single-family homes, condominiums and paired villas to be built in three phases, Glanz said.
Plans for the development were first approved by county commissioners in 2009 and included some homes designated as workforce housing in the $200,000 range.
The project was stalled in part by the sagging economy of a few years ago, Glanz said, but now it's back on the table along with a number of other new developments in the Parrish area that will add thousands of homes.
"It's really, really steaming up. It's a real hot area," said Glanz, of Rancho Mirage, Calif., who has a home in Bradenton. Glanz previously developed Hidden Lakes Condominiums in West Bradenton.
Glanz said he plans to eventually sell the lots to outside builders and has received "a tremendous amount of interest."
"Almost every one of the majors has called me talking about when, and how much," he said.
The site plan for Cone Ranch South also includes about 60,000 square feet of commercial development. Glanz envisions a gas station/convenience store near one end of the development at State Road 62 and possibly a daycare or church at the other. The community could also include a park, soccer fields and several lakes, Glanz said.
The developer's petition, submitted March 4, states that establishing a CDD is the "best alternative available for delivering community development services and facilities to the area that will be served by the district without imposing an additional burden on the general population of the local general-purpose government."
The petition is being reviewed in the county attorney's office and could come before the county commission as early as next month, county planner Debbie Perron said.
"As soon as we do that, we'll really be ready to rock and roll," Glanz said.
If approved, work on the development could begin as early as six months to a year from now, he said.
Jason Bartolone, East Manatee Editor, can be reached at 941-745-7011. Follow him on Twitter@JasonBartolone.