"I think it says that (Panama City Beach) is the premier location in Florida. Joe Company have combined their resources to create the new Latitude Margaritaville Watersound, a new 55+ community located in Florida's panhandle region near Panama City Beach and the scenic 30A corridor. That's five times more than the 200 that showed up in Daytona day one," Bullock said. Master developer Minto Communities USA, global lifestyle brand Margaritaville Holdings and The St. "We had 1,000 people who went into a drawing to buy a home (at the Watersound location). The others are in Daytona Beach and Hilton Head, South Carolina. The Bay County site is Minto's third Latitude location. While not all of them will be dedicated to Latitude Margaritaville Watersound, Precise said the plan still gives the community the potential to expand well beyond the 3,500 homes currently in its master plan.īullock said that his group plans to release a handful of new homes every month after the first 200 homes are complete. The group already has approval to build 170,000 homes. Joe officials states about 53,000 acres are slated for conservation and preservation, with the rest scheduled for development. The 50-year plan provides the framework for more than 110,000 acres across Bay and Walton counties near the Intracoastal Waterway. Joe finalized its Bay Walton Sector Plan in 2015. She noted that the project first gained momentum shortly after St. really helps to even out or stabilize the local economy." "I think having that additional stability of some (more) long-term residents. "We've always been really strong on the vacation destination front, but year-round residents have not necessarily kept up with summertime residents," Precise said. Joe Company, Minto Communities USA and Margaritaville Holdings. The development is being built along State 79 near its intersection with State 388, through a partnership between the St. Joe Company, said that she believes Latitude Margaritaville Watersound will fill a void in the Panama City Beach economy, which is largely dependent on tourism, by bringing thousands of full-time residents to the area. everybody else is (too)."īridget Precise, senior vice president of residential real estate for the St. I love the sound of children laughing and playing, (but) I don't like the sound of children screaming and hollering. I don't like the renters just because they're on vacation and they just assume. "Where I'm living on the Beach, there are a lot of renters. and it's (full) of like-minded folks," she said of Latitude. She learned of Latitude Margaritaville by watching "Wheel of Fortune."Īs someone who lives in a condo, Daffin said she was excited to be a part of the laid-back resort and escape the many noisy tourists vacationing in Panama City Beach. They cost $230,000 to $420,000.Īmong those set to live in the tropical-themed community is Lucretia "Lu" Daffin, a 68-year-old Panama City Beach resident, who said she chose a more than 1,500-square-foot villa.ĭaffin, who said she hopes to move into her new home toward the beginning of next year, added that she was the first person selected during the random drawing. Partners.Since homes are built according to customers' orders, Bullock said he anticipated it would take more than three months to complete the first wave of homes.Ī press release noted there are four styles of homes for buyers to choose from that range from about 1,200 square feet to more than 2,500 square feet. 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