City Commission Approves Sale of Mahan/Weems Property to Vystar Credit Union

City Commission Approves Sale of Mahan/Weems Property to Vystar Credit Union

On Nov. 10, the City Commission unanimously voted to approve the sale of the 3.46-acre Mahan/Weems property to VyStar Credit Union for $3,500,000.

VyStar Credit Union is looking to build a two-story building to serve as its branch location in Tallahassee. The branch is expected to create up to 50 new jobs. The net proceeds from the proposed sale will be $3,500,000 minus the brokerage commission, appraisal and closing costs, and it will be deposited in the deficiencies reserve fund.

The Mahan/Weems property was part of an 11.99-acre property purchase by the City of Tallahassee in 2016 for the construction of the Weems Road extension for $3,450,000. The roadway extension was completed using only a portion of the 11.99-acre property, and the City planned a future sale of the remainder of the property to recover some of the initial acquisition cost.

In May 2020, the City planned this sale and, with help of a brokerage team and the Real Estate Committee, marketed the Mahan/Weems property and conducted a competitive bid. The City received 10 offers from developers. The offer plans included a carwash, a convenience store with fuel service, a childcare center, retail/restaurant plans and two credit unions. The bid offers ranged from $2,200,000 to $3,500,000, the highest bid belonged to VyStar Credit Union.

The City advanced negotiations with VyStar Credit Union and stressed their concern to preserve a large live oak tree located on the property along Mahan Drive. VyStar consulted with their engineers and provided an updated conceptual site plan that protects the tree.

9 Responses to "City Commission Approves Sale of Mahan/Weems Property to Vystar Credit Union"

  1. Avatar
    Mama Bear   November 13, 2020 at 8:38 am

    So I echo all your comments – my sentiments exactly! So there is a lot of knowledge in this city about natural landscapes, water quality, urban planning, etc. but I don’t see it followed. I know there are midnight deals and big money going on but what are citizens doing to fight it and why are the same weasels voted in? I have only lived here a few years, and I see the development going the way of all the other nasty over-developed urban places in Florida. We have a golden opportunity to do it right – but that window will close soon. So please educate – I can tell you are smart people.

    Reply
  2. Avatar
    Publius   November 11, 2020 at 7:07 pm

    Question to TR:,were other CE property transactions in past 20 yrs also converted to non conservation use or sold to others?

    Reply
  3. Avatar
    Mike Peter Smith   November 11, 2020 at 5:55 pm

    Great article. Please keep the good work.

    Reply
    • Avatar
      Tod Anders   November 12, 2020 at 3:23 pm

      Another piece of property that’s going to be stripped of old oaks and trees. City could careless.

      Reply
  4. Avatar
    Publius   November 11, 2020 at 5:21 pm

    This is only part of the story and involves just the North-South leg of the Weems Rd extension.

    The East-West section was part of a Conservation Easement from another prior land owner to the City several years previously. CE’s are for preserving land from development for conservation purposes. Tax benefits supposedly flow to the prior land owner.

    In this instance the City granted a variance to ITSELF to renege on the CE to build the E-W part of the extension. And, oh, there’s a very large active sink hole about 50 yards North of this extension. So much for conservation of land and jeopardizing water quality via open sink holes with a major connector roadway.

    Lastly, anything to be concerned with here on the tax benefits allotted to the prior land owner who got the CE and basically donated it to the City?

    Reply
  5. Avatar
    jon   November 11, 2020 at 5:08 pm

    Cool we need more banks. Also pharmacies.

    Reply
  6. Avatar
    John   November 11, 2020 at 3:39 pm

    Should not have sold this property… But, since they did, glad it was not for another car wash.

    City could also have done a better job landscaping Weems Rd. Project with native trees and plants/flowers. Palms are not trees.

    I know, follow the money…

    Reply
    • Avatar
      Hope   November 12, 2020 at 6:58 am

      Agreed…Tallahassee needs to step up their landscaping…

      The Boulos Corporation development on Apalachee Parkway is horrendous! The back of the houses are shown close to the right-of-way with no Landscaping… absolutely none! This is ridiculous that this development is across from the Veterans Memorial and this new development is allowed to get away without lanscaping their project. Someone at the city needs to get on the ball.

      This is what City Commissioner should be concerned about and not painting offensive political messages on public roadways.

      Reply
  7. Avatar
    David T. Hawkins   November 11, 2020 at 2:57 pm

    Well….at least they didn’t give it away.

    Reply

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