MOBILE, Ala (WKRG) — It may be the most consequential real estate deal in Mobile in decades. Tuesday the University of South Alabama Foundation sold 300 acres at the Brookley Aeroplex to the City of Mobile and the State of Alabama.
The cost is $33 million. $15 million comes from the the state’s Economic Development Fund. $16 million comes from GOMESA — a federal oil and gas revenue sharing program, and $2 million comes from National Fish and Wild Foundation funds resulting from the 2010 Deepwater Horizon Oil Spill settlement.
About half the land is being set aside for economic development: the future expansion of nearby Airbus, or other aerospace industrial projects.The other half will be used for wetlands conservation and a park with public access to Mobile Bay. The park will occupy roughly the area that was once the Gulf Pines Golf Course.
The City also has an option to purchase a remaining 50-acre USA parcel for the next five years for $9 million. It is likely the City will do that and use the land for economic development or for future runway or buffer zone expansion required if the commercial airport relocates from Bates Field as planned.
Mayor Sandy Stimpson says the City has actively been pursuing a deal for six years. The Mobile Airport Authority and economic developers have been eyeballing the property for decades.
“This is huge win for the City of Mobile,” said Elliot Maisel, Chairman of the Mobile Airport Authority, said. “The property will enhance the quality of life for all citizens through future job growth and recreational opportunities.”
Below is a map of the site.
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