Officials will review an agreement to purchase a key piece of property next to the Mary Sue Rich Community Center as part of the city’s ongoing efforts to redevelop and revitalize west Ocala.
The purchase agreement will be presented to the Ocala City Council during its regular meeting on Tuesday, December 2.
The 10.49-acre property is question is located along NW 21st Street, just north of the Mary Sue Rich Community Center. It is near the Ocala Wetland Recharge Park.
Currently, the site is owned by Ocala Cleat Company. The city pursued the acquisition after the property owner’s representative reached out to gauge interest in the parcel.
According to a recently completed appraisal of the property, its estimated market value is approximately $1,240,000. Ocala Cleat Company has agreed to a purchase price of $807,000.
The appraisal and master plan also recognized existing environmental challenges with the property, including potential groundwater and soil contamination stemming from the former operation of the Royal Oak Charcoal Plant and the old Pine Oaks Golf Course, which was converted to the Aurora St. Leon Apartments in August 2023.
City staff says the acquisition of the site aligns with recommendations from the West Ocala Vision and Community Plan, specifically aiming to create the Pine Oak Square Main Street Mixed Use District. They believe the purchase will accelerate the redevelopment of the parcel in a manner consistent with the West Ocala Community Redevelopment Plan.
Currently, the average value per acre in the West Ocala CRA is estimated at $345,000, contrasting with the subject property’s value of $120,000 per acre. The city sees the discrepancy in value as an opportunity to improve the site.
Furthermore, city staff believes the acquisition is crucial to the broader Reed Place Master Plan, which focuses on sustainable land use, housing, connectivity, and public health.
The overall Reed Place study area comprises approximately 70 acres.
If the city completes the acquisition of the subject property, it will own approximately 57 percent of the entire block.
City records show that the seller has requested that the closing date be on or before December 31, 2025. Staff has commenced preliminary due diligence pertaining to the acquisition due to the short timeframe for closing.
The Ocala City Council’s approval of the request would grant Ocala City Council President Kristen Dreyer or City Manager Pete Lee the power to execute the agreement and/or take actions necessary to acquire the property.
The Ocala City Council next meets on Tuesday, December 2, at Ocala City Hall (110 SE Watula Avenue) at 4 p.m.