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Escambia Votes To Begin Negotiations With Beulah Town Center For $20 Million OLF-8 Sale
February 9, 2024
The Escambia County Commission voted 4-0 Thursday night to begin negotiations with Beulah Town Center (BTC) LLC and partner Fred Hemmer on a contract to develop the county-owned OLF-8 property on Nine Mile Road.
Beulah Town Center and Hemmer have told commissioners that they will follow the Master plan and no contruct any single family homes.
Beulah Town Center’s latest offer, revised Thursday afternoon, is $20 million cash for 290 acres, with the county retaining about acreage for economic development (shown in yellow in the graphic above). Under the latest proposal, BTC will not retain a purchase option on the additional property.
BTC and Hemmer (pictured) also revised their offer at the request of Commissioner Jeff Bergosh to set aside sufficient property to allow the county to construct four tennis courts adjacent to the new Navy Federal Recreation Park.
BTC also raised their due diligence period to seven months.
With the commission’s vote, County Attorney Alison Rogers and Administrator West Moreno will negotiate with BTC with a goal of returning a contract for commission consideration by the end of March.
A second offer from Precision Capital was also on the table, but for 537 acres, a majority of the property, with the development of some 900 single family homes.
“I can’t even consider the other offer,” Bergosh said Thursday morning.. “It’s completely 100% out of step with the master plan. It loads up the field with a bunch of single family residences, houses, no area for job growth.”
Comments
4 Responses to “Escambia Votes To Begin Negotiations With Beulah Town Center For $20 Million OLF-8 Sale”
Yes, and there are 10 times as many overpriced apartments being built. Less apartments and more houses is what we need. I bet that you, Eric m, and Mr. Metro and Mr. Bergosh all have a house and I am glad you do.
@george … of you haven’t noticed, there are thousands of homes that are being built in Escambia County. 900 homes will not change the affordability of homes for you.
@ George. There are a number of new homes being built in the surrounding area. Also the land deal was done to attract businesses to create jobs.
900 single family homes would give more people the opportunity to be home owners. What a terrible thought . Bergosh do you own a home or are you forced to live in an apartment like me. The good of the people should come first. The American dream to own a home is being set aside.