A Louisiana-based developer is asking Pensacola to annex 7.5 acres on Airport Boulevard, where it plans to build a 200-unit apartment complex.
Bearing Point Properties requested the annexation of four parcels of property at 422 Airport Blvd. totaling 7.5 acres in December.
“The ownership group intends to build a 200-unit apartment complex on-site,” Bearing Point Properties wrote in a Dec. 21, 2023 letter. “The annexation would be beneficial to the owners as it would grant future residents the benefits of living in the city of Pensacola as opposed to unincorporated Escambia County.”
The property is currently zoned commercial, which would allow apartments under the county’s land development code.
Bearing Point Properties bought the property under the name Airport Apartments LLC in 2021 for $500,000.
The group is the same development company working to build the Waverly Pensacola and The Westmore apartments in downtown Pensacola at the corner of Spring and Garden streets.
Along Airport Boulevard, the Pensacola city limits is about 430 feet away from the property line, however, the city limits runs along the northside of the property along the banks of Carpenter Creek. Because the property borders the city, it can annex it without having to annex any other properties.