The St. Joe Company announced plans to expand its joint venture with Minto Communities USA and add approximately 3,500 homes to the Latitude Margaritaville Watersound residential community in Panama City Beach, Florida. Sales at the community rose 27% year to date in 2026 compared with the same period in 2025, reaching 2,635 of the initial 3,700 planned homes. The second phase will bring the community to approximately 7,200 planned homes and includes updated financial terms reflecting the increase in value of the region and the community. St. Joe and Minto formed the joint venture in June 2019 and opened the sales center in May 2021, selling the community's 1,000th home 19 months later and its 2,000th at the end of 2024, with buyers now representing all 50 states. The community sits in the Bay-Walton Sector Plan, a master plan entitled for more than 170,000 residential units, and St. Joe is also developing the adjacent Watersound West Bay Center, planned for a minimum of approximately 500,000 square feet of commercial space, along with plans for a public marina on the Intracoastal Waterway.
St Joe CompanySt. Joe expands its Latitude Margaritaville Watersound JV with 3,500 more homes as community sales rose 27% YTD to 2,635 homes.
Minto Communities USA expands its joint venture with St. Joe, adding ~3,500 homes to the Latitude Margaritaville Watersound community amid strong sales.
