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PANAMA CITY BEACH, Fla., January 11, 2022–(BUSINESS WIRE)–The St. Joe Firm (NYSE: JOE) (“St. Joe”) at this time proclaims graduation of improvement of Watersound West Bay Middle, a way of life buying middle adjoining to the Latitude Margaritaville Watersound neighborhood in Panama Metropolis Seaside, Florida. Plans name for the middle, which has the potential to incorporate roughly 350,000 sq. ft of leasable house at construct out, to characteristic a mixture of retail, restaurant, workplace and medical house.
This press launch options multimedia. View the total launch right here: https://www.businesswire.com/news/home/20220111006108/en/
Conceptual website plan for Watersound West Bay Middle in Panama Metropolis Seaside, Florida (Photograph: Enterprise Wire)
The middle is deliberate for an roughly 110-acre website positioned close to the intersection of State Street 79 and West Bay Parkway on the entrance to the Latitude Margaritaville Watersound neighborhood. This energetic grownup neighborhood, which is deliberate to incorporate 3,500 homesites, welcomed its first residents in late 2021. Since residence gross sales started in June 2021, greater than 450 properties have been positioned underneath contract. St. Joe plans to design the approach to life buying middle with golf cart and pedestrian connectivity to the residential neighborhood. The State Street 79 hall serves as one of many primary arteries for vacationers visiting the realm by automotive or by way of the close by Northwest Florida Seashores Worldwide Airport. Simply minutes from the deliberate Watersound West Bay Middle, St. Joe has began website work on one other massive, multi-phase residential neighborhood and has plans for a hospital and medical campus.
“Watersound West Bay Middle is being designed to serve not solely the residents of the rising Latitude Margaritaville Watersound neighborhood, however the area at massive,” mentioned Dan Velazquez, Senior Vice President of Business Actual Property for St. Joe. “We intend to create a welcoming surroundings for guests whether or not they come for a fast buying journey, or to spend a day buying and eating. Present plans embody mixed-use buildings that includes first flooring buying and eating choices and second flooring workplace house in addition to a grocery retailer and pharmacy.”
“This announcement comes at a time of large development in Northwest Florida,” continued Velazquez. “Along with the preliminary success of the Latitude Margaritaville Watersound neighborhood, the area’s inhabitants development is among the many highest within the state and Northwest Florida Seashores Worldwide Airport served extra passengers in 2021 than every other 12 months in its historical past. With these market situations and the middle’s ultimate location, we’re excited to maneuver ahead with Watersound West Bay Middle.”
St. Joe’s current business portfolio contains practically a million sq. ft of leasable house in Northwest Florida, of which 87% is presently leased. Website work on Watersound West Bay Middle is underway and St. Joe intends to start vertical development in fall 2022.
Vital Discover Relating to Ahead-Wanting Statements
This press launch accommodates “forward-looking statements,” inside the which means of Part 21E of the Trade Act, together with statements concerning the proposed Watersound West Bay Middle. These forward-looking statements are certified of their entirety by cautionary statements and threat elements set forth in St. Joe’s filings with the SEC, together with its Annual Report on Type 10-Ok for the 12 months ended December 31, 2020 and subsequent filings, in addition to the next: (1) the power of St. Joe to finish the proposed Watersound West Bay Middle and (2) and the curiosity of potential tenants and clients in a way of life buying middle in Panama Metropolis Seaside, Florida.
About The St. Joe Firm
The St. Joe Firm is an actual property improvement, asset administration and working firm with actual property property and operations in Northwest Florida. The Firm intends to make use of current property for residential, hospitality and business ventures. St. Joe has vital residential and business land-use entitlements. The Firm actively seeks larger and higher makes use of for its actual property property via a variety of improvement actions. Extra details about the Firm will be discovered on its web site at www.joe.com. Frequently, the Firm releases a video displaying progress on initiatives in improvement or underneath development. See https://www.joe.com/video-gallery for extra info.
©2022 The St Joe Firm. “St. Joe®“, “JOE®“, the “Taking Flight” Design®, “St. Joe (and Taking Flight Design) ®“and “Watersound®“, are registered service marks of The St. Joe Firm or its associates.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20220111006108/en/
Contacts
St. Joe Investor Relations Contact:
Marek Bakun
Chief Monetary Officer
1-866-417-7132
marek.bakun@joe.com
St. Joe Media Relations Contact:
Mike Kerrigan
Company Director of Advertising
1-850-231-6426
mike.kerrigan@joe.com
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