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Developers Make $16 Million Unsolicited Offer For OLF-8 Property
January 27, 2021
Developers have once again made an unsolicited offer for the county-owned property on Nine Mile Road in Beulah known as OLF-8.
Hemmer Consulting of Pensacola, 68 Ventures of Spanish Fort, made the $16 million offer Tuesday to purchase about 400 acres for $40,000 cash per acre. Escambia County would retain about 130 of the 530 total acres for roads, government buildings, parks, schools and a dedicated commerce or business park.
The developers will, according to their proposal, follow design aspects guidelines set as forth in a master plan once it is approve by the Escambia County Commission. DPZ Codesign has developed four master plan concepts for OLF-8 (click or tap here to see the plans in detail). The county commission has finalized a master plan.
If the sale were to take place, the Hemmer and 68 Ventures will construct a main boulevard from Nine Mile Road to the property retained by the county, and the county would be required to continue the roadway to Frank Reeder Road.
Hemmer Consulting and 68 Ventures also made an $18 million unsolicited offer for the full 530 acres in early 2019. At that time, County Attorney Alison Rogers told commissioners that would be legally obligated to declare the property surplus and sell it to the highest bidder, rather than accepting an unsolicited offer.
In January 2019, Escambia County acquired the 636 acre OLF-8 helicopter field in a land swap with the U.S. Navy for property in Santa Rosa County at a total cost of about $18 million. A portion of the property was previously sold to Navy Federal to expand their campus.
NorthEscambia.com photo, click to enlarge.
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January 28, 2021 at 01:11PM
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Developers Make $16 Million Unsolicited Offer For OLF-8 Property - NorthEscambia.com
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