Minto Communities USA (“Minto”) and The St. Joe Company (NYSE:
JOE) (“St. Joe”) announce that Latitude Margaritaville Watersound,
located on Northwest Florida’s Emerald Coast, sold its 1,000th home
in December 2022. In addition, homeowners soon will enjoy the four
pillars of Latitude Margaritaville — fun, food, music and escapism
— to the fullest with the grand opening of the Latitude Town Center
this spring. Latitude Margaritaville Watersound opened to a
resounding response from home buyers in May 2021, and reached the
1,000th home sale just 19 months later.
Dorothy Scattone from Jackson, Mississippi, was quite surprised
to learn she had just become the 1,000th home buyer at the popular
community. “I’ve always dreamed of living in a beach town,” she
notes. “Here was the opportunity to stop dreaming about being a
local and actually become one. The timing was right. It was now or
never! I chose now.”
The initial phase of the Latitude Margaritaville Watersound Town
Center resort-style amenities will include a colorful Town Square
that features a multi-tiered amphitheater, thatched roof bandshell,
full-size concert stage, jumbo screen for concerts and movies and
special area designed for dancing. Dining and refreshment choices
will include a two-story Bar & Chill restaurant and rooftop
Overlook Bar with panoramic views of the Intracoastal Waterway as
well as a Changes in Attitude Bar with views of the lagoon-style
Paradise Pool. A state-of-the-art Fins Up! Fitness Center will
include an indoor pool and spa. Additional amenities will include
tennis and pickleball courts with lighting for night play and the
Barkaritaville Dog Park. Future planned amenities include a Workin’
N’ Playin’ Center, Last Mango Theater, Hangar Workshop and
Barkaritaville Pet Spa.
In addition to the many Latitude Margaritaville Watersound
amenities, St. Joe has plans for a future full-service public
marina and commercial village adjacent to the community. St. Joe
also has plans to develop a health care campus just minutes from
Latitude Margaritaville Watersound with Tallahassee Memorial
Healthcare, Inc. and Florida State University College of Medicine
(FSU). The proposed healthcare campus is planned for the
87-acre parcel near the intersection of State Highway 79 and
Phillip Griffitts Sr. Parkway where ground has already been broken
on the first medical office building. In addition to a planned
100-bed inpatient facility, FSU intends to utilize the campus for
research focused on successful aging and senior living
technology.
Latitude Margaritaville Watersound is located between Pensacola
and Panama City, near Panama City Beach. It is situated in the
heart of St. Joe’s vast Bay-Walton Sector Plan that encompasses
approximately 110,500 acres with approximately 15 miles of frontage
on the Intracoastal Waterway. Just a short drive from the famed
Scenic Highway 30-A corridor with its beautiful white-sand beaches,
this region is the embodiment of the relaxed, beachy vibe that is
at the heart of the Latitude Margaritaville lifestyle. The
community’s initial phase is anticipated to include approximately
3,500 homes.
Latitude Margaritaville Watersound is being developed in a
dynamic partnership that includes master developer Minto, global
lifestyle brand Margaritaville Holdings, and St. Joe. It is the
first of the popular communities to be developed in partnership
with St. Joe. The other two Latitude Margaritaville communities are
located in Daytona Beach, Florida and near Hilton Head, South
Carolina.
Latitude Margaritaville’s all-new approach to active adult
living has captured the imagination of today’s vibrant and active
55-and-better home buyers. More than 550,000 are registered as
Latitude Margaritaville Paradise Club members to receive ongoing
information on the communities. Currently there are just under 400
homes completed with nearly 700 at some stage of design or
construction.
“Reaching the 1,000th sale milestone is a great moment for this
community,” said Jorge Gonzalez, President and CEO of St. Joe. “The
immense demand for new homes in the Latitude Margaritaville
Watersound community speaks not only to the quality of the homes
and abundance of amenities that residents can enjoy, but also to
the appeal of the quality of life in Northwest Florida. More home
buyers from more parts of the country are discovering this region,
and the 1,000th home sale in the Latitude Margaritaville Watersound
community is evidence of that.”
The Latitude Margaritaville Watersound sales center and 13 model
homes are open daily. Four distinct home collections, the Conch
Cottage Collection, Caribbean Villas Collection, and Beach and
Island Collections of single-family homes, capture the “no worries”
tropical vibe that defines Latitude Margaritaville communities.
Floor plans range from 1,204 to 2,568 square feet under air with
pricing from the low $300s.
The Latitude Margaritaville Watersound sales center is located
at 9201 Highway 79, Panama City Beach, Florida. Open daily, Monday
through Saturday, 9 a.m. to 5 p.m.; Sunday 11 a.m. to 5 p.m.
Central time. For information, call 866-524-0144.
For more information on Latitude Margaritaville and to sign
up to receive regular development updates, visit
www.LatitudeMargaritaville.com. Also follow on Facebook
at www.facebook.com/LatitudeMargaritaville, on
Instagram @LatitudeMville, and on Twitter at
@LatitudeMville.
NOTE TO EDITOR: Please see link to Latitude Margaritaville
Watersound images below.
Image credits: Courtesy Minto Communities.
https://www.dropbox.com/sh/c3rqn8iepgg94ro/AADS5rb5itKhLq9zMHhp1v7Ca?dl=0
Important Notice Regarding
Forward-Looking Statements
This press release contains “forward-looking statements,” within
the meaning of Section 21E of the Securities Exchange Act of 1934,
including statements regarding the anticipated size of the initial
phase of Latitude Margaritaville Watersound, expectations regarding
specific amenities and other features, plans for developments in
the adjacent communities and the prospective interest in the
Latitude Margaritaville Watersound. These forward-looking
statements are qualified in their entirety by cautionary statements
and risk factors set forth in St. Joe’s filings with the SEC,
including its Annual Report on Form 10-K for the year ended
December 31, 2021 and subsequent current report filings, as well as
the following: (1) the ability of Minto, Margaritaville Holdings
and St. Joe to continue to develop and successfully complete the
Latitude Margaritaville Watersound community and other developments
in adjacent communities on the expected timeline, or at all, (2)
the continued interest of prospective buyers of Latitude
Margaritaville Watersound homes.
About Latitude
Margaritaville
Latitude Margaritaville communities are active adult
developments built by master developer Minto Communities under
license from global lifestyle brand Margaritaville Holdings.
Offering resort-style amenities, Latitude Margaritaville is the
ideal destination for those looking to live the Margaritaville
lifestyle as they grow older, but not up. The communities feature a
resort-style pool, fitness center, live entertainment, signature
Margaritaville food and beverage concepts, arts and learning
programs and more. Ranked the nation’s most popular active adult
community of 2018 by 55Places.com and 2019’s Best 55+ Community of
the Year by the National Association of Home Builders, Latitude
Margaritaville communities are now open in Daytona Beach, Florida,
Hilton Head, South Carolina and Watersound, Florida located on the
Emerald Coast in Florida’s Panhandle. All three Latitude
Margaritaville communities were recognized among the top 25
master-planned communities in the U.S. for 2022 on both the John
Burns Real Estate Consulting list of top 50 master-planned
communities and the RCLCO Real Estate Consulting list of top 50
master-planned communities. Additional Latitude Margaritaville
communities are planned for Texas as well as other popular
destinations.
About Minto Communities
Minto Communities USA, based in Florida since 1978, has
represented integrity, financial strength and enduring value for
over 45 years. Minto builds exceptional new homes and communities
to meet every lifestyle, with more than 32,000 new homes built in
48 communities. Minto is dedicated to continuous improvement in
design, quality and customer experience. These are just some of the
elements that set Minto apart as an exceptional homebuilder and
community developer and have earned the company national
recognition that includes consistently high rankings from Eliant
Customer Service Surveys. Minto has been recognized with multiple
national awards from the National Association of Home Builders
(NAHB) for community and home design, including Best Single-Family
Community Over 100 Homes for Westlake in the City of Westlake; Best
Mixed-Use Community and Best Clubhouse for The Isles of Collier
Preserve in Naples, Florida; and Best Clubhouse for the Harbour
Isle Beach Club in Sarasota-Bradenton, Florida. Minto is also
recognized throughout the homebuilding industry as an expert in
developing active-adult communities. The NAHB named Minto
Communities as 2019’s 55+ Builder of the Year. Minto’s Latitude
Margaritaville Daytona Beach was awarded 55+ Community of the Year
for 2019, and Latitude Margaritaville Hilton Head was awarded 55+
Community of the Year for 2020.
About St. Joe
The St. Joe Company is a real estate development, asset
management and operating company with real estate assets and
operations in Northwest Florida. The Company intends to use
existing assets for residential, hospitality and commercial
ventures. St. Joe has significant residential and commercial
land-use entitlements. The Company actively seeks higher and better
uses for its real estate assets through a range of development
activities. More information about the Company can be found on its
website at www.joe.com. On a regular basis, the Company releases a
video showing progress on projects in development or under
construction. See https://www.joe.com/video-gallery for more
information.
“Watersound®”, “St. Joe®”, “JOE®”, the “Taking Flight” Design®,
“St. Joe (and Taking Flight Design) ®” are registered service marks
of The St. Joe Company or its affiliates.
Minto is authorized to use the Latitude Margaritaville name by
virtue of a license agreement with Margaritaville Holdings.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230112005314/en/
Paula Robertson (for Minto) Paula Robertson & Associates
239-454-1454 Paula@prprUSA.com
Marek Bakun (for The St. Joe Company) 866-417-7132
Marek.Bakun@joe.com
Mike Kerrigan (for The St. Joe Company) 850-231-6426
Mike.Kerrigan@joe.com
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