We are looking to dissolve adjacent and nearby parcel geometry that we have identified and attributed as participating in a common subdivision, and merge these into a single, bounding, space filling polygon that closely approximates the outer boundary of the area. (mocked up in the attached images).
The existing geoprocessing envelope tools that we are aware are only able to produce envelopes or convex hulls. As we have thousands of these, we are hoping to avoid manual editing touches where possible. But even tool or process that isn't perfect it would be nice to give even if minor cleanup is still needed.