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More Offers For Escambia’s OLF-8 Property Reach $38 Million, Non-Exclusive Talks To Begin
February 16, 2023
The offers for Escambia County’s OLF-8 property are increasing, now up to $38 million, and the county is set to begin talks with the companies.
Over the weekend, we reported that homebuilder D.R. Horton had made a $33 million offer for the 540 acres on Nine Mile Road.
Early Thursday morning, Breland Companies of Huntsville, Alabama, made a $35 million cash offer for the property. Breland, according to the company, is a nearly 50-year old real estate development firm that has developed over 500 residential communities with over 30,000 units, plus multi-family, office and retail developments. Those developments have been anchored by companies that include BJ’s Wholesale, Starbucks, Chipotle, Outback, Deluth Trading, and others.
“This site appeals to us due to our involvement in several large mixed-use developments,” company CEO Louis W. Breland wrote in the offer letter.
Breland, like, D.R. Horton, offered $1 million in earnest money and a six month inspection period, compared to one year for D.R. Horton.
“Breland intends to pursue multiple categories of commercial and residential projects at the property, including retail, restaurants, office, hotel, light industrial, senior living, multifamily and single family,” all consistent with the master plan, the company stated.
During the Escambia County Commission’s meeting Thursday morning, D.R. Horton countered, increasing their offer to $38 million.
D.R. Horton said the company “intends to incorporate multiple commercial and residential uses into its future master plan. (D.R. Horton) intends to approach a third-party developer with regard to the development of the commercial parcels.”
A design plan approved by the commission is in place for the property with a combination of commerce, residential and amenities. It allocates 271 acres to commerce and industrial; 61 acres to residential including duplexes, townhomes and multifamily; 47 acres to a mixed-use center such as residential over retail and office over retail; and 45 acres to trails and public amenities such as a post office, school, day care and community garden.
“To all the naysayers who said this was a bad deal – this was a good deal, and it’s about to get much better,” said Commissioner Jeff Bergosh.
“I don’t know why we stopped negotiating, because my idea was always $50 million,” Commissioner Lumon May quipped. “So keep negotiating Jeff.”
On a motion by Commissioner Steven Barry and a second by Bergosh, the BOCC voted 5-0 to formally acknowledge receipt of the offers and direct the county administrator and attorney and begin non-exclusive negotiations with both parties and any other company that makes an offer.
“If somebody else wants to submit, they can submit,” May said.
Comments
23 Responses to “More Offers For Escambia’s OLF-8 Property Reach $38 Million, Non-Exclusive Talks To Begin”
Look at bright side when all said and done.you can seat down and have a steak and glass of wine.
when did the BOCC become experts on land deals….I seem to recall some of this going on before….
No one developer should get it all. We need shops, department stores, grocery stores, schools, saloons and limited housing.
$38M or even $50M is too little.
I think they should build that area up to get our homeless offnthe roads build shelters and jobs so we can build up our community
I agree with majority of the comments made so far. There are more negative reviews than positive that i have heard regarding DR Horton. I live in the area as well and would much prefer more commercial than residential go up in the area especially in that location where the land is. There are already other areas down and around Beulah road where development for housing is taking place. The area can really more commercial businesses without drastically increasing living in the area. We moved out here to get away from heavy traffic. Maybe it’s just me with that way of thinking but it would help alot of people to get commercial businesses instead so that we don’t have to go deep in town for everything.
NO MATTER WHAT YOU SAY, LIKE OR DIS LIKE THE COUNTY COMMISSION’S WILL DO WHAT EVER THEY WONT TO . WHEN IT COMES TO MONEY WHAT THE PEOPLE SAY IS OUT THE DOOR. MONEY TALKS !!!!!!!!!! WHICH AND SEE WHAT I SAY…
Nothing should be built on the site until the Beulah Rd/I-10 interchange is complete. Nine Mile Rd doesn’t need another 10 years of dump trucks and concrete trucks tearing up the road surface. We went through that with the construction of Navy Federal once already.
Take the time to sort out all the bids that come in, go for quality over cost. Shoddy construction will lead to rapid deterioration. Top of the line occupants leave to be replaced with cut rate businesses and homeowners sell out to rental companies that barely maintain the properties. Anticipate drainage issues and traffic problems.
Bergosh said this morn that 3 more parties are interested so 38mil might turn into 50+mil like councilman May wants.. I agree @ronald.. Breland is a good choice. Look at Town Madison outside of Huntsville. If they get the industry that Triumph fund requires then they get almost 18mil in infrastructure and thats huge. Glad to see the Council wanting to move forward at a faster clip to get this done and make Beulah the most envied community of all Escambia Co.
Costco Yes
Horton No
People wake up look who is in charge. What is the difference between getting a favor or padded pocket.
We need to consider a school, no one on this board is seeing Beulah Elementary where there are 30 kids in a classroom
Some people obviously have no idea what is involved in developing, much less a large project such as this. I’ve never met Louis Breland, but from previous personal experience I would agree with the person who said Breland would be preferable, and even at less money imo. Horton is not in the commercial business and their residential products are just low end in general. Unless widespread news reports are all wrong, Horton is being sued all over the southern area for shoddy work. The county better be ready to hold their feet to the fire at every turn for many years if they deal with Horton.
Why does it have to be all to one buyer? There are local and smaller builders that could build housing there. I’m thinking of Thomas Homes for example. All these thousands of Breland/Horton/Adams homes in Beulah are destined to devalue the area. Look at the houses Breland build on Beulah road. No space between them, no yards, house over garage and built all the way up to Beulah Road despite the fact that it will be widened. But as the salesman said at the Breland sales office – “We’ll be gone by then”.
Sell some land to Costco.
It’s clear that Beulah and West Nine Mile in general lack both the infrastructure and supportive retail (i.e. a Target) for it’s large population.
The purpose of OLF8 was always commercial first… industrial park, retail plaza, office park, etc. If the county sells it to Breland or DR Horton it will just become another substandard housing focused project, as that’s where these builders can maximize their profits…housing. Housing will outnumber and commercial.
I say the county prohibits developers from building housing altogether and focus on a mix of commercial and retail, and also ask a portion of the project go towards public greenspace (i.e. a sports field) that can be owned/managed by the county.
Why does all rural land HAVE to be developed? Why can’t we move way out to be away from it all and have it encroach on us. Not everyone likes all that traffic and noise and concrete. What God put here is what is beautiful and peaceful. Not commerce EVERYWHERE ! ! ! UGH!!!!
I personally like Breland for the deal. However, no matter who in the end, it should go to whoever also agrees that retail businesses MUST be included to support the housing/residents that is expanding dramatically in the area. It would be nice to have something else besides a McDonalds, Pizza Hut, 2 car washes and a storage facility! How about Starbucks (or other coffee shops), sit-down restaurant, or at least Chick-Fil-A, Chipotle, Target, Hair salons, Walgreens or CVS, etc? It would be nice for the seniors in the community to have closer access to retail business in the Beulah area instead of having to drive all the way to the opposite end of town for everything. It would be nice to also see a large park for families with children too. I also know not everyone likes this type of expansion, but I also really hate to see it all be DR Horton housing and nothing else.
Costco needs to open up there too. They need more stores restaurants parks things like that. I like Brelands plan better.
Sell it to Breland!! Their a great company to deal with.
At best sell 1/3 to each builder and see which one does the best job and does what they promised to do. Sell remaining to the winner and back charge the one that fails.
Horton loves back charges!!
38mil turn to 100mil when developed to sub division
We bought it for an industrial park , not another subdivision like Milestone. I guess we’ve attracted all the businesses this county can handle. Who needs to encourage businesses to come here? We’ve got plenty of openings at the high paying fast food restaurants.
Sure, more bids means more padded pockets and just think, we are allowing it.
Seems Mr. May is the only one with any sense. Look how quick D.R. countered. Keep negotiating.