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Escambia County Receives New $36 Million Offer For 540 Acre Entirety Of OLF-8
June 1, 2024
Escambia County has received another offer for the OLF-8 property on Nine Mile road — this time $36 million for the entre 540 acres parcel.
The offer was received from Tri W Development, a subsidiary of Jim Wilson and Associates (JWA) of Montgomery, Alabama, along with CAH Developments, an affiliate of The 1559-Collective in Pensacola.
There’s still an offer on the table from Beulah Town Center, which increased their purchase offer in mid-May to $25 million for 290 acres.
If the county accepted the new offer for the entire 540 acres, they would likely lose a Triumph grant for Frank Reeder Road and other infrastructure improvements that can only happen on property owned by the county.
They are offering to donate 15-25 acres to the school board for construction of a public school.
JWA real estate projects have included Eastchase in Montgomery on 330 acres with retail, hotels, restaurants and shops; the Redstone Gateway business park in Huntsville on 470 acres with office, industrial, hotels, retail and restaurants; Riverchase Galleria in Hoover, a mixed use development with retail, hotels and office space; and New Park in Montgomery, a 1,000 acre master planned community that currently has 400 single family homes, a school, YMCA and more.
CAH developments include Ransley Station on 60 acres at the corner of I-10 and Pine Forest Road in Pensacola, and the East Garden District in Pensacola.
The new offer does not directly address how the current Master Plan for the property would be addressed.
The new offer is on the agenda for discussion at the next Escambia County Commission meeting on Thursday, June 6.
Pictured: The OLF-8 property as seen from Nine Mile Road in May 2024. NorthEscambia.com photo, click to enlarge.
Comments
15 Responses to “Escambia County Receives New $36 Million Offer For 540 Acre Entirety Of OLF-8”
every give any thought to meadow field circle (approx. 20 acres) connects east OLF-8 and west Beulah Road, for access from OLF-8.
few neighbors and I have talk its time too move, country part of our little neighborhood is gone!!!
I really actually feel like they really need more AFFORDABLE HOUSING. Some elderly and middle age people that receive SSI or disability can’t get GOOD,.. NICE,..Or just A DECENT places to stay. And it’s really sad because HOMELESSNESS is serious and on the rise terribly. I just feel like we got to do and provide better to help out community.
@ MW, YEAH! Finally some one else is hitting on the real problem of OLF-8. Our commissioners overspent to acquire this land from the Navy for an aircraft industrial park to support Airbus plant at Brookly Field in Mobile. Airbus lost the Tanker contract to Boeing, thus the OLF-8 purchase was muted. Now they are trying to salvage a “Fulton’s Folly”. You are right on target MW.
The new offer is $2000 less per acre than the other one. This deal was FUBR from the beginning. Remember we over paid on the per acre price for property in Santa Rosa county for a new field, which we then had to clear and construct to Navy specifications in order to trade for OLF8, that project went millions over budget which cost us about 20 million in the end.
We are going to have more of a mess out there with no foresight as to traffic and the impact it will have. The BOCC does not know how to do math any idiot can spend money it takes a little more intelligence to make it.
We need a balance of place we can enjoy and create a higher quality of life for all of us, while making income for us. Take a picture of it because it will never be the same
It’s surprises me how no one seems to understand why the county gives tax credits to businesses. Does no one understand that businesses create jobs. Which helps our economy and your pocketbook Do you like the way it looks in Gulf Shores and the surrounding areas in Alabama? They do the same thing. Please stop complaining and think about the good things these businesses could bring to our community.
Just as soon as I get a house I will agree with Ben.
Of course the EC commissioners will decrease taxes for whatever amount received for the property——since it’s already owned by the citizens!
Once the new residents and developers start lobbying to close the Perdido Landfill…
I wonder where the next Escambia County landfill will be located?
Why are there no tresspassing signs? Why can’t people use it while the county decides how to ruin it.
A nature preserve sounds wonderful if you bought your house 40 years ago for $25K the rest of us that are still working and contributing more to the county than our outdated economic views would like affordable housing. Increase the stock of homes and prices come down. Supply and demand.
How about they just leave it How it is and not touch it? Thats a thought no more houses or anything here stop building
I wish I had enough millions to purchase this land from the county. I would plant it all in native vegetation and make a nature conservancy right in the middle of where they want to “develop”.
We need restaurants, business, walking, and mixed living space as proposed in the master plan.
Remember the day when you were offered 42 million for the whole thing then you proceeded to go back on the deal. Yeah! Leave it to Escambia County to mess it all up.
“Sixteen tons and what do you get”
“Another day older, and deeper in debt”
“I ow my soul to the company store”