The St. Joe Company’s (NYSE: JOE) project at West Bay, Florida is one of the most unique commercial/industrial development opportunities in the United States today.
Encompassing 71,000 acres (38,730 hectares), the project is one of Florida's largest mixed-use developments. The Panama City - Bay County Airport and Industrial District's new state-of-the-art airport, with a runway planned for 10,000 feet (3,050 meters), anchors the project. According to the local Aiport Authority, the new airport, when complete, will be capable of operating 24 hours a day, 7 days a week, 365 days a year.
The new airport is currently under construction and scheduled to open in May 2010. It will be able to accommodate rapid cargo and/or passenger growth.
JOE’s project at West Bay will be capable of offering ready access to U.S. and world markets through a deepwater seaport and links to the nation’s primary north-south and east-west rail corridors and the Interstate Highway System.
The region offers relocating or expanding businesses a skilled workforce, potential state, regional and local economic development incentives, high quality of life and a reasonable cost of living.
Planned for the Next Fifty Years
JOE developed its project at West Bay using the state’s novel “sector planning” process, which enables large-scale projects to plan for development for the next fifty years.
Its approved planning framework includes commercial, office and industrial entitlements, preservation lands, recreation areas and residential and community facilities. The project has been designed for long-term sustainability to ensure continued compatible land uses.
The West Bay Sector Plan’s entitlements currently accommodate 4.4 million square feet (408,000 square meters) of industrial, commercial and retail space, more than 6,300 dwelling units (including lodging units) and 900 marina slips. At conceptual buildout, the plan contemplates up to 37 million square feet (3.4 million square meters) of commercial/industrial uses and 27,000 residential units.
Tens of thousands of acres, much of it along the western banks of St. Andrews Bay and its environmentally sensitive tributary creeks, have been preserved as part of a far-reaching environmental conservation program. The conservation plan was developed and implemented with the support of many environmental groups.
The St. Joe Company (NYSE: JOE), a publicly held company based in Jacksonville, Florida, owns the vast majority of land in West Bay. JOE, one of Florida's largest real estate development companies, is primarily engaged in real estate development and sales, with significant interests in timber. More information about JOE is available at www.joe.com.
West Bay Fact Sheet
Airport Fact Sheet
Footnote:
*The airport’s 8,400-foot (2,560 meters) runway is awaiting final permits to extend to 10,000 feet (3,050 meters). According to the local airport authority's construction schedule the new airport is currently scheduled to be open in May 2010.
For up-to-date information on the status of the construction project, visit the local airport authority's public information web site at www.newpcairport.com.
Previous Page