BEULAH, Fla. (WKRG) — A final deal is expected within a month to bring jobs and retail space to Escambia County, Florida.
The property on Nine Mile Road next to Navy Federal, known as OLF-8, used to belong to the U.S. Navy. Now, the county is in negotiations to sell it for more than $40 million. This will bring restaurants, retail space, medical offices and possibly a new school to the property in Beulah.
Right now, there’s a $42 million offer on the table from D.R. Horton and Stirling Properties. Commissioner Jeff Bergosh said this week in a town hall that there’s still no deal and another buyer is now showing interest.
“We’re going back and forth but we have a strong buyer who’s willing to develop the field according to our master plan,” Bergosh said. “My understanding is now there’s another buyer who’s waiting in the wings so I think we’re doing pretty well. I think the property’s valuable and I think if we do it right, it would be a win for the entire community.”
Bergosh said the agreement will mean at least $20 million in profits for taxpayers. A good portion of that money will be used for infrastructure improvements across the county.