Escambia Receives Second $20 Million Offer For OLF-8 Property

February 7, 2024

Another firm has submitted an offer for Escambia County’s OLF-8 property on Nine Mile Road.

The new offer was submitted by Ryan Bell of Kinetic Realty Services and Pensacola Bay Realty broker Bryce Burch on behalf of Precision Capital.

“As members of this community with many families and friends who are also a part of this community, we believe in a Community First Vision for this Development. We believe in creating a complete and thriving Urban Development for this rapidly growing community. Complete with parks, shopping, a school, a place of worship, high end restaurants, entertainment, and career-oriented jobs to establish a future for their families and yes housing. A home is the fundamental gathering place for all families and friends,” the proposal states.

Precision Capital is offering $20 million — the same dollar figure as a Beulah Town Center offer received last week, but there are several differences in the scope of the offers

Beulah Town Center did not plan to develop any single family homes, but Precision Capital is proposing up to 900 single family home sites over a 40-year period, which they say would generate about $126 million in annual tax revenue.

The Precision Capital Offer proposes the purchase of 537 acres,  with a portion of the green space given back to the county for a park and a school. Beulah Town Center’s offer is for about 290 acres, with the county retaining 250 acres to be used for job creation.

“For this project to succeed we need people. Restaurants need people. Entertainment needs people. Employers need people. People need homes. This plan starts with Housing to bring the people in, the people then are able to spend money at shops, restaurants and entertainment. These shops, restaurants and places of entertainment bring quality of life to the whole county. This quality of life will both attract tourism as well as fortune 500 companies,” the Precision Capital offer states.

Both the Precision Capital and the Beulah Town Center proposals are set for discussion by the Escambia County Commission at their next meeting on Thursday, February 8.

Pictured top and inset: Precision Capital plans for OLF-8. Pictured below: Plans from Beulah Town Center. NorthEscambia.com graphics, click to enlarge.

Comments

5 Responses to “Escambia Receives Second $20 Million Offer For OLF-8 Property”

  1. TEM on February 7th, 2024 4:26 pm

    Below reminds me of “I’m from the Government and I’m here to Help”

    “As members of this community with many families and friends who are also a part of this community”

  2. Squib on February 7th, 2024 2:16 pm

    Instead of just adding more housing developments and stores which we will get anyway, why not do something for the residents of this area? You have the opportunity to add a really nice park and recreational facility here. Houses and stores can and will go other places nearby but do something nice for us, the ones who pay your salary.

  3. NEXT on February 7th, 2024 11:49 am

    Any bid that starts with, “As members of this community with many families and friends who are also a part of this community” should probably be rejected. They are in this for the money, nothing else, and any attempt to say otherwise is a lie.
    They go on to say, “We believe in creating a complete and thriving Urban Development for this rapidly growing community” but I wonder has anyone polled the people currently residing in the community to see what they want? I highly doubt it.

  4. richard on February 7th, 2024 11:04 am

    John, you are wrong. Santa Rosa County commissioners are the worst.

  5. John Connor on February 7th, 2024 9:52 am

    Good job county commissioners. You went from 42 million for all of it to 20 million for all of it. This is exactly what happens when you go back on an agreement to sell. Now you are getting offers from wanna be developers who will just screw it up. I mean seriously 900 single homes over 40 years? So they are going to build just 25 homes a year? You can’t be serious. You might as well just turn into a landfill. So, Let’s all breathe a sign of relief because this property will never be developed because we vote the worst county commissioners into office in the State of Florida.





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