A new investor has joined the development team attempting to revitalize a derelict, multi-parcel property on downtown Pensacola’s west side.
Quint Studer is now a 20 percent owner of Two Hundred Garden West Inc., a business registered to local attorney and developer Jim Reeves. In September, the Escambia County School District agreed to sell its former administration headquarters at 213 W. Garden St. to the company. The site spans about 4.9 acres. The school district approved relinquishing it for $3.4 million.
Reeves, whose group intends to rejuvenate the property as a mixed-use development, has previously cited Studer Properties’ under-construction $52 million Southtowne apartment project at 101 E. Romana St. in downtown as a comparison for the school district property. Studer owns Studer Properties. In part for this reason, Reeves said offering Studer a stake in his group’s ownership naturally made sense.