There is a new front-runner to purchase the county-owned OLF-8 property on Nine Mile Road.
The latest groups to express interest in purchasing the property are Montgomery, Alabama-based commercial real estate developer Jim Wilson & Associates (JWA) and Pensacola-based Catalyst Healthcare Real Estate. It is a partnership with Chad Henderson, CEO and founder of the estate. Pensacola Mayor Ashton Hayward, now a real estate developer.
The group has not yet offered a specific price, but the Escambia County Commission plans to set a price and negotiate a purchase agreement. Plans call for a mixed-use development with retail, entertainment, office, hotel, medical, and light industrial.
The proponents collectively said they believe the interests of the county and the public are “best served by having a single developer in charge of planning and overall management of the development.” They said this process would enable the use of a master plan with guaranteed compliance.
The group wants to buy all 330 acres and will likely incorporate two existing proposals for a small parcel on the north end of the property into their plans.
“We recognize the critical importance and stewardship of doing this the right way, and myself and my partner JW Associates are committed to ensuring this property is done the right way in the best interest of all involved. We’re very excited to be looking at developing it in the U.S.,” Henderson told the committee.
“The OLF-8 project provides a generational opportunity to apply many lessons, experiences and resources in a well-managed manner, while creating a significant positive impact on the wider region,” said Henderson. said in an email to the county.
“I think it’s reasonable to look at these people as potential partners who can take care of the northern half, which I know is so important to all of us,” said Escambia County Commission Chairman Stephen Barry. I think so,” he said. Commissioners discussed the northern half of the land being used for job creation. “Ideally…it would give Wes (Moreno, county administrator) and Alison (Rogers, county attorney) an opportunity to negotiate a purchase agreement that could come back to the board in the future.
“All of our districts contributed to the purchase of this property,” said District 3 Commissioner Rumon May. all citizens. I see this as a universal project where everyone can get an ROI (return on investment) on their investment. There has to be mutual benefit to the greater number of constituents I serve. ”
Prime Minister Theresa May added: “We can talk about affordability and all these other things, but if we don’t create jobs that allow someone to live on the land, then what have we done?” he added.
“We’re excited about the future of the project because we’ve got a group that’s interested and that we think can really take it on and do it the right way,” District 1 Commissioner Jeff Burgosh said. “I will.” “I’m looking forward to seeing it develop… It’s going to be a great project, and it’s going to be great for Beulah.”
District 2 Commissioner Mike Kohler said he likes the idea of selling the entire property instead of just parts of it.
“I think the board is moving in the right direction right now,” Kohler added.
The county has not moved forward with any other offers for the property, primarily due to contract length issues.
In May, Beulah Town Center LLC (BTC) and developer Fred Hemmer increased their offer to purchase the 290 acres to $25 million, but did not offer to purchase the entire site.
“I think they should at least give Fred (Hemmer) a chance to compete,” Kohler said.
Barry responded: “They would welcome further offers.” “If Fred and Beulah Town Center would like to communicate a little more with the board, we would be happy to send it to us.”
Locally, Catalyst Healthcare Real Estate owns the East Garden District in downtown Pensacola, the planned mixed-use development Lansley Station at Pine Forest Road off I-10, and the new Baptist Hospital campus medical office building on Brent Lane. I was a developer. In the area, JWA developed a 330-acre planned community known as Eastchase and other developments in Montgomery, as well as a mall in Biloxi.
In January 2019, Escambia County acquired OLF-8 in a land swap with the U.S. Navy for land purchased in Santa Rosa County for more than $17 million.
Above photo: The front of the OLF-8 site on Nine Mile Road. NorthEsambia.com photo, click to enlarge.
By William Reynolds · Stored under Top Stories
