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Escambia Commissioners Pick Developer And $50 Million Offer For OLF-8
January 10, 2025
in a deal years in the making, the Escambia County Commission Thursday night selected a developer for the OLF-8 property on Nine Mile Road in Beulah.
With a unanimous vote, the commission selected Beulah Town Center (BTC) and a revised bid of $50 million for the for the complete 540 acres using a DPZ Master Plan approved in 2021 as a restrictive deed. The county attorney and staff were tasked with negotiating a final sale agreement within 30 days.
“I want to thank you,” Fred Hemmer of Beulah Town Center said. “We’ve been working on this for five or six years. I know it’s been very frustration to all of you. us, the people behind us. Thank you for your patience, and we look forward to delivering.”
The 5-0 approval came after a previous motion to select BTC failed and another developer pulled out and left the meeting.
Earlier in the meeting, District 1 Commissioner Steve Stroberger made a similar motion seconded by Mike Kohler to negotiate with BTC for $50 million The motion failed with Lumon May, Ashlee Hofberger and Steven Barry voting against BTC.
Hofberger then offered a motion seconded by Barry to negotiate with Chad Henderson and TRI-W Development for 30 days for an amount not to fall below their $42.5 million offer.
May and Kohler said they could not turn down $50 million and vote for $7.5 million less and wanted to hear a hard number from TRI-W.
“Knowing what you know now, where are you at?” Hofberger asked Henderson. He said the group would negotiate an amount higher than the $42.5 million, but they wanted to make a final offer based upon negotiations.
“I can tell you I will be competitive with those offers through a negotiation of understanding the entire aspect of a purchase and sale agreement,” he said. When commissioners continued to press for a dollar figure, Henderson rescinded their offer and the group walked out.
A third offer for $45 million was on the table from Ryan Bell and Beulah Ranch, LLC.
In January 2019, Escambia County acquired OLF-8 in a land swap with the U.S. Navy for property in Santa Rosa County. The county hired DPZ CoDesign to develop the best plan for OLF-8, and the firm presented four plans ranging from a commerce park based concept to designs with a mix of commerce, residential and green space on the 500 plus acre site along Nine Mile Road in Beulah.
The final DPZ master plan approved in July 2021 is 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.
Click graphics to enlarge.
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