THE ST. JOE COMPANY

“Mexico Beach is a beautiful community with its own unique charm along the white sand beaches of the Gulf of Mexico,” said Jorge Gonzalez, President and CEO of St. Joe. “The area is still seeing a housing shortage as a result of the damage caused by Hurricane Michael. That, combined with the future demand for housing that we anticipate as a result of the ongoing redevelopment of Tyndall Air Force Base, makes this the right time to initiate this project and fill a need in the area in a manner that will respect the unique charm of Mexico Beach.” 

“The demand for housing in Mexico Beach is very high and with the ongoing redevelopment of Tyndall Air Force Base, we expect that demand to continue to grow,” said Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. “Given the location, the planned amenities and the mix of floorplans that we plan to offer, our anticipation is that this community will attract a mix of people who serve or work at the base, as well as people who just want to enjoy the unique Mexico Beach lifestyle.” 

“We have seen great demand in our residential communities in Panama City Beach and the Ward Creek community is no exception,” said Bridget Precise, Senior Vice President of Residential Real Estate for St. Joe. “We have homesites under contract in this community with a national luxury homebuilder who is entering the Northwest Florida market for the first time as well as a homebuilder who has built homes in several of our other communities.”

The St. Joe Company (NYSE: JOE) (“St. Joe”) releases its 2021 letter to shareholders and Annual Report on the company’s website at ir.joe.com.