hallmarkgrad
Posts : 1066
Join date : 2012-07-30
Location : West side
 | | Subject: ECUA receives $7.6 million offer for Main Street property Fri Jun 21, 2013 10:12 am | |
| Looks like the Egg might be cracking. Condos? Trendy Housing? Another Port Royal? Waffle House?(lol)ECUA receives $7.6 million offer for Main Street property
Posted on June 21, 2013 by Nate Monroe0 comments
 Demolition on the ECUA Main Street property that took place in 2011 / PNJ file.
A Houston land development firm has offered the Emerald Coast Utilities Authority $7.6 million for the 19-acre site of the former wastewater treatment plant on Main Street, according to ECUA Executive Director Steve Sorrell.
The ECUA board will consider that offer Thursday.
Members will also have an alternative proposal that would instead select one of six real estate brokers who placed bids to market the property.
“They’ll have a couple of good options,” Sorrell said.
The parcel is located just west of City Hall and directly north of the Community Maritime Park, making its development an important facet in the future of downtown Pensacola’s development efforts.
The cash-strapped City of Pensacola had initially considered buying the property but later backed off that proposal.
Sorrell said the development firm, HT Land Company, approached ECUA. After weeks of negotiations, both sides settled on the $7.6 million price — an amount Sorrell said is comparable to the land’s value.
Sorrell said the board does not need to competitively bid the property.
“The board authorized me to put the land up for sale and negotiate a deal,” he said. ”The only thing we did was put up four signs, one on each corner.”
In January, the Florida Department of Environmental Protection found no contaminants in the parcel’s groundwater, Sorrell said. | |
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hallmarkgrad
Posts : 1066
Join date : 2012-07-30
Location : West side
| | Subject: Re: ECUA receives $7.6 million offer for Main Street property Fri Jun 21, 2013 10:21 am | |
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Eric
Posts : 9738
Join date : 2012-07-30
Age : 73
Location : Pensacola
| | Subject: Re: ECUA receives $7.6 million offer for Main Street property Fri Jun 21, 2013 1:52 pm | |
| All I say is that they ought to plan on putting in a LOT of fill dirt on that property, or maybe put a parking deck on the lowest floor, cause it is gonna flood. | |
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riceme
Posts : 3098
Join date : 2012-12-02
Age : 52
Location : Fox, Alaska
| | Subject: Re: ECUA receives $7.6 million offer for Main Street property Fri Jun 21, 2013 6:00 pm | |
| I like that they don't need to competitively bid the property. That's smart government there, yup. | |
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| | Subject: Re: ECUA receives $7.6 million offer for Main Street property | |
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