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Escambia County Receives Increased $22 Million Beulah Town Center Offer For OLF-8 Property
March 6, 2024
Beulah Town Center, LLC (BTC) has submitted a revised $22 million offer for 290 acres of the OLF-8 property on Nine Mile Road, adjacent to the Navy Federal Credit Union campus.
In February, the Escambia County Commission voted unanimously to enter into two weeks of contract term negotiations with BTC. At that time, BTC’s offer was $20 million.
The commission will discuss the latest offer at their meeting on Thursday.
The offer will adhere to the Master Plan for the property, leaving 250 acres on the northern part of the field for the county to use for job creation. BTC will develop retail and restaurants along Nine Mile Road, “along with potential for a big box, big name retail store that everyone will celebrate”, District 1 Commissioner Jeff Bergosh said. An area will also be reserved for tennis courts to be developed adjacent to the new Navy Federal Recreation Park.
If the county accepts the offer, BTC will make a nonrefundable $10,000 deposit as earnest money. A half million dollar deposit into escrow will follow five days after the inspection closing date, along with an irrevocable half million dollar letter of credit.
There would be a six month due diligence period, with an option to extend.
Comments
6 Responses to “Escambia County Receives Increased $22 Million Beulah Town Center Offer For OLF-8 Property”
How did Escambia County acquire OSF-8 from the US Navy? What was those intentions at that time?
Hummmm…I wonder who’s hand writing that is?
@linda
County could look at the peoples requests first..
Maybe the county should subdivide the acreage up and sell the sub divisions by piece. County put utilities and roads in before bidding.
The county would be wise to LEAVE IT ALONE..
Build a Giant nature park with trails and things to do away from all the hassle of the DEVELOPED wastelands.
Being born and raised in Pensacola 70 yrs ago and seeing the progress of the Beulah area . I would like to see a beautiful park to relax enjoy nature or walk, etc , an addition to Navy Federal park. Not more restaurants that will close due to finding workers. There are plenty of restaurants on Nine Mile Rd . We don’t have a walking park, pickleball courts for everyone now. Only members of Navy Federal can make reservations to use their pickleball courts. They are not for everyone to enjoy . A Box store I understand. This end of county needs this desperately. We all don’t go to downtown PNS to relax or to our beautiful beaches that are crowded certain times of year.. It’s hard to find a place to park in downtown PNS . Don’t forget this end of county..
Should have just took the 42 million by Horton. We could have used that money to repave roads like W street. Updated lighting on county roads, used it to support fire services but no you want to play developer. Now your stuck with 210 acres and only 22 million. We all know nothing will be developed on those 210.acres because it’s Escambia County. I bring up the central commerce park owned by the county. Built in 2000s on 100 acres and promised 1k jobs. It literally only has 3 small businesses employing 75 people. That is Escambia County ran for you.