One Developer Drops $45 Million Bid For OLF-8, Another Ups Offer To $50 Million

February 8, 2025

Friday, Beulah Town Center (BTC) withdrew their $45 million offer for the 540 acre OLF-8 property owned by Escambia County in Beulah, expressing disappointment with a 30 day negotiation period that was ending.

“After dedicating the past eight years to working toward an agreement for the purchase of OLF-8, we are disappointed that a resolution could not be reached. While we had hoped for a different outcome, we respect the County’s position and the process. Though this chapter is closing, we remain committed to pursuing meaningful opportunities that reflect our experience, expertise, and long-term vision,” Beulah Town Center managing member Chad Horne said in a letter Friday to Escambia County commissioners.”

During a Thursday night commission meeting, commissioners would not extend the negotiation period.

“We sincerely wish the County and the people of Beulah the best as they move forward. Our commitment to Escambia County remains strong, and we look forward to continuing to contribute to its growth and success for years to come. We sincerely wish the County and the people of Beulah the best as they move forward. Our commitment to Escambia County remains strong, and we look forward to continuing to contribute to its growth and success for years to come, Horne continued in BTC’s Friday letter.

Last month BOCC unanimously approved negotiations for 30 days with BTC, mandating that the DPZ Master Plan would be a deed restriction with 270 acres for light industrial, 61 acres for residential and 47 acres for a mixed use center.

After debate, commissioners voted 4-1 for a motion by District 4 Commissioner Ashlee Hofberger and seconded by District 5 Commissioner Steven Barry to complete the initial 30 day negotiation period with BTC, and then consider any other offers that come in. District 1 Commissioner Steve Stroberger cast the lone dissenting vote.

Ryan Bell and Beulah Ranch, LLC have upped their offer to $50 million for the property on West Nine Mile Road. A copy of a written offer from Beulah Ranch was not available from the county on Friday.

The county had received a $42.5 million offer from TRI-W Development, but the group walking out of an early January meeting, rescinding their offer.

NorthEscambia.com photo, click to enlarge.

Comments

11 Responses to “One Developer Drops $45 Million Bid For OLF-8, Another Ups Offer To $50 Million”

  1. JOHN on February 11th, 2025 2:14 pm

    I agree with Steve. We need better paying jobs in this area. Jobs, infrastructure and public safety are the key issues that Escambia County Commissioners should be focusing on.

  2. Olin Schultz on February 9th, 2025 12:07 pm

    For once we have had a county commissioner who has stuck up for the citizens of district one. That being said our county commissioner is calught in the middle. Do you remember when you were in school and you made the teacher mad? After that you were earmarked and you were picked on by that teacher because she watched you like a hawk the rest of the year? Well, our county commissioner stuck up and agreed to let this company continue negotiations because he wanted to see this deal go through and because of the rest of the county commissioners, who are in my opinion idiots, it messed up the deal for Beulah town center. I’m ashamed to say that the rest of the county commissioners would not stand up with our district commissioner. Way to go, Steve you did a great job for our district and I for one applaud you for that. If you drag a carrot in front of a horse, they will get tired of chasing said carrot! Same with negotiations. Greed is no way to run a county commission and sooner or later these companies will back out. Commissioners, quit trying to one up each other!

  3. Bonnie Exner on February 9th, 2025 10:51 am

    I’ve followed this land purchase since we swapped land with Santa Rosa County…first of all our county commissioners need to get out of the real estate business [ hire an experienced expert who can negotiate the best return on the dollar. .secondly once a contract has been given exclusively to a developer, honor its timeline and finally take some lessons from Santa Rosa Economic Director Shannon Ogletree( he has successfully filled one industrial park in East Milton and is working on another starting another near I10 and Hwy 87.

  4. Alex on February 9th, 2025 10:51 am

    @,give me a break
    You are so right and the commish is the big boobs!

    @Steve
    You are forgetting the fact that the construction of the property will bring lots of jobs and the built houses ETC. will bring forever taxes to the county

  5. Give me a break on February 8th, 2025 7:19 pm

    This is like a Benny Hill episode, lol.

  6. Steve on February 8th, 2025 1:18 pm

    Hmm…how do you commit to one thing in the morning and completely change your position by the evening?

    Is anyone at the County level, attempting to bring JOBS to the area? There seems to be a lot of focus on development of residential and shopping areas, little to no action on attracting long-term, large volume employers. If I’m wrong, let’s hear about those coming, but nary a peep about it.

    We can keep building ourselves out as a bedroom community, save for the Navy Fed & Guvmint jobs. But, wouldn’t it be nice to have other industries move here and provide long-term, high-paying, stable jobs?

  7. bob c. on February 8th, 2025 12:52 pm

    TAXPAYERS…..am wondering How Much of Our Tax Monies go toward Maintenance of OLF-8? I mean, it appears to be mowed on some regular basis or would be just another overgrown patch of ground. My guess is WE Pay for that and any-all other related Costs to maintain a huge empty lot. One thing I do know is that Forrest Gump is NOT out there on his riding mower cutting for FREE.
    Sure seems to me that any time the County Commission gets involved with Real Estate that it never has turned out as advertised to We the TAXPAYERS.
    Would it be Better if the ECBoCC were Banned from dealing in Land Deals?
    What a ME$$ this whole OLF-8 thing has been. Disappointed in Escambia County.

  8. Luigi on February 8th, 2025 10:25 am

    Here we go once again. Purchased with taxpayers money . Turned the parcel into a county recreational and habitat environment. We don’t have the infrastructure for more residential construction. No EMS services , road infrastructure and more traffic. Instead build trails , pools , tennis courts etc for the tax payers. Just like many other countries on the East and West coast of Florida . Pine forest needs two more lanes, 297A more traffic lights. Fireman need a wage living pay rate , LEOS are needed on traffic units . BOC of Escambia work on taxpayers needs not a Real state ventures.

  9. JJ on February 8th, 2025 9:25 am

    8 years, wonder what the taxes on it be in just 4 years.
    Take the money and fix our roads! If you dont know which roads, START WITH PINE FOREST NORTH OF I-10
    ALL 5 COMMISH SHOULD SIT AT THE DONUT SHOP AND WATCH THE NORTH TRAFFIC FROM 4:30PM to 6:30PM AND WATCH HOW MANY PEOPLE USE THE CENTER LANE FOR TRAVEL!!!!.

  10. Gman on February 8th, 2025 8:11 am

    If anyone can screw this up Escambia County will.

  11. John Connor on February 8th, 2025 7:34 am

    What a laughing stock! This is why Escambia county is one of the poorest counties in Florida, no actual job growth beyond service industry.

Written by William Reynolds · Filed Under News