Escambia County gets second offer for OLF 8 for $35 million

Just hours before the Escambia County Commission was set to discuss a $33 million offer for former Naval Outlying Field 8 from D.R. Horton, the commissioners received a second offer from Breland Companies for $35 million for the more than 500-acre Beulah property.

Escambia County has been searching for a developer to fulfill the OLF 8 Master Plan for the last year, and last Friday received a letter of intent from D.R. Horton with the $33 million cash offer.

Breland Companies is also offering to pay the $35 million in cash with no financing. Unlike the D.R. Horton offer, which said it would write its own master plan based on the county's, Breland Companies said it was willing to develop the property under the current master plan.

First OLF 8 offerD.R. Horton offers Escambia County $33 million for OLF 8

Breland Companies also said it would work with the county to meet all of the requirements of a $14 million Triumph Gulf Coast grant for infrastructure at the property.

Breland Companies is a developer based in Huntsville, Alabama, who has developed over 500 residential communities that have also included multifamily, office and retail developments. The company built Town Madison in Madison, Alabama, which was 585-acre development that include single-family homes, seven multifamily developments, six hotels and large retail developments that included BJ's Wholesale Club, Starbucks, J. Alexanders, Chipotle, Outback Steakhouse and Duluth Trading Company, according to its letter.

"It's a massive tremendous win if we can bring it in for a landing," Escambia County Commissioner Jeff Bergosh told the News Journal Thursday morning.

The Escambia County Commission meeting is set to begin at 9 a.m.

This article originally appeared on Pensacola News Journal: Escambia County gets second offer for OLF 8 for $35 million