The Owensboro Board of Commissioners voted 3-2 Tuesday to approve the purchase of nearly 35 acres along Pleasant Valley Road for economic development purposes.
City Manager Nate Pagan called it a strategic investment for long-term community growth.
The City is paying nearly $3.5 million — $100,000 per acre — for the 34.798 acres owned by James G., Ann, and Mary Lou Pantle. The tract sits behind and beside the new Kroger, currently under construction, between Fairview Drive and Pleasant Valley Road. Pagan said the family approached the City with an interest to sell, noting they preferred to sell exclusively to the City rather than to private developers.
Pagan added that the City purchased an adjoining 25 acres in 2020, portions of which were used for the Fairview Drive extension project and later sold to developers who built a medical complex and facilitated Kroger’s location on the east side. He said this latest purchase “completes what we’ll be able to do from a long-term perspective in that area,” given nearby residential growth and existing boundaries.
Greater Owensboro Economic Development Corporation President and CEO Claude Bacon told commissioners the site is not intended for industrial or manufacturing use but will provide flexibility for commercial development.
“With the positive growth we are experiencing in the community and the success we are having in economic development, a property of this caliber and flexibility is important,” Bacon said.
Commissioners Sharon NeSmith, Bob Glenn, and Curtis Maglinger voted in favor of the purchase, while Mayor Tom Watson and Commissioner Jeff Sanford opposed it. Watson and Sanford both cited concerns about the price and timing.
“I actually went out with staff and looked at this,” Sanford said. “We’ve got a lot of other things going on right now, and $3.5 million is a lot of money; it’s the taxpayers’ money. I think we have other properties that are long-term investments, and sometimes healthy fund balances can evaporate.”
NeSmith said the decision was difficult, but ultimately viewed it as necessary for Owensboro’s continued expansion.
“If we don’t grow and we get stagnated and don’t have additional revenue coming in, that’s going to be another story,” she said. “To me, this particular area is growing, and I think this one would sell faster than some of the others we have available.”
The municipal order authorizes the mayor and City staff to execute the real estate purchase agreement and all necessary documents for the transaction. Pagan said the purchase will help the City maintain control over future development opportunities in one of Owensboro’s fastest-growing commercial corridors.
