Minto Communities, Margaritaville Holdings and The St. Joe Company announce Latitude Margaritaville Watersound model homes now under construction
Panama City Beach, FL — October 27, 2020 — Partners Minto Communities USA (“Minto”), Margaritaville Holdings and The St. Joe Company (NYSE: JOE) (“St. Joe”) announce that construction has started on 13 model homes at Latitude Margaritaville Watersound, the companies’ planned 55-and-better community. Models are projected to open in April 2021.
Model homes have been designed to capture the “no worries” tropical vibe that is so much a part of life at Latitude Margaritaville. There will be four distinct home collections – Conch Cottage Collection, Caribbean Villas Collection, and Beach and Island Collections of single-family homes. Home plans range from approximately 1,204 to 2,564 square feet under air, and prices are anticipated to start in the $200s.
Latitude Margaritaville Watersound is located on Northwest Florida’s Emerald Coast between Pensacola and Panama City, near Panama City Beach, and just a short drive from the famed Scenic Highway 30-A corridor. This area, with its beautiful white-sand beaches, is the embodiment of the relaxed, beachy vibe that is at the heart of the Latitude Margaritaville lifestyle.
Latitude Margaritaville Watersound is the third Latitude Margaritaville community to be developed by Minto and Margaritaville, and the first to be developed in partnership with St. Joe. The first two Latitude Margaritaville communities have opened in Daytona Beach, Florida and near Hilton Head, South Carolina.
Development work on the community’s first 248 homesites, including the 13 model homes, is currently underway. In total, the initial phase of Latitude Margaritaville Watersound is anticipated to include approximately 3,500 homes. The community site is located 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. The Bay-Walton Sector Plan is entitled for approximately 170,000 homes.
According to Minto’s Latitude Margaritaville Division President William Bullock, “With this incredible location, we have a blank canvas that allows us to create a unique living environment with access to the Intracoastal and some of the most beautiful beaches anywhere. Minto and Margaritaville look for five fundamental keystones when selecting locations for Latitude Margaritaville communities. These include sufficient land, a coastal location, proximity to an airport, convenient retail and service businesses, and nearby medical offices and hospitals. Latitude Margaritaville Watersound’s location checks off all of these boxes and more. The area’s natural terrain is breathtaking, and there are many outdoor recreational activities from boating and deep-sea fishing to hiking, biking and golfing. In addition, St. Joe has plans for a marina and commercial village adjacent to the community.”
Inspired by the lyrics and lifestyle of singer, songwriter and best-selling author Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation, this dynamic, all-new approach to active adult living has captured the imagination of today’s vibrant and active 55-and-better home buyers.
“The sense of community we’ve seen at our previously opened Latitude Margaritaville properties in Daytona and Hilton Head has been incredible, especially during this challenging year,” shared Jim Wiseman, President of Margaritaville Development. “We’re thrilled to partner with Minto and St. Joe to open a new, neighborly community in Northwest Florida, where residents can feel safe, comfortable, and supported – all while living like they’re on vacation.”
The centerpiece and social hub of existing Latitude Margaritaville communities is the expansive Town Center with amenities that rival the finest destination resorts. The Town Centers include a Town Square with full-size concert stage, jumbo screen to project live concerts and movies, and large area for dancing. The Town Centers also include a state-of-the-art Fins Up! Fitness Center, lagoon-like Paradise Pool, Latitude Bar & Chill Restaurant, Changes in Attitude Bar, Workin’ N’ Playin’ Center and Last Mango Theater. A Hangar Workshop is available for golf cart tune-ups, and a Barkaritaville Pet Spa and Barkaritaville Dog Park keep four-legged residents happy and healthy. In addition, there are tennis and pickleball courts, and nature trails. A similar Town Center is planned for Latitude Margaritaville Watersound.
“The start of construction on the model homes at Latitude Margaritaville Watersound represents another significant milestone for this community,” said Jorge Gonzalez, President and CEO of St. Joe. “We look forward to welcoming future residents to visit the community and tour the model homes in early 2021. In addition to the homes and amenities that are being planned for Latitude Margaritaville Watersound, the community’s proximity to Northwest Florida Beaches International Airport, the beach and local shopping centers is sure to appeal to 55-and-better home buyers from across the country.”
Marek Bakun (for The St. Joe Company)
Mike Kerrigan (for The St. Joe Company)
Finn Partners (for Margaritaville)