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The St. Joe Company Announces New Homebuilder Relationships With Holiday Builders and Harris Doyle Homes

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The St. Joe Company (NYSE: JOE) has announced new homebuilder relationships with Holiday Builders and Harris Doyle Homes, expanding its builder program to 19 builders across 16 active communities in Northwest Florida. Holiday Builders has contracted to purchase homesites in the Salt Creek at Mexico Beach community, while Harris Doyle Homes will become the fourth builder in the Breakfast Point East community in Panama City Beach.

These additions diversify St. Joe's new home offerings, with prices ranging from the low $300,000's to over $3 million. Both builders plan to have new homes ready for sale by 2025, demonstrating continued builder interest and demand for homesites in the region as Northwest Florida attracts full-time residents from across the country.

La St. Joe Company (NYSE: JOE) ha annunciato nuove collaborazioni con Holiday Builders e Harris Doyle Homes, ampliando il suo programma di costruttori a 19 operatori in 16 comunità attive nel Nord-Ovest della Florida. Holiday Builders ha stipulato un contratto per l'acquisto di lotti nella comunità di Salt Creek at Mexico Beach, mentre Harris Doyle Homes diventerà il quarto costruttore nella comunità di Breakfast Point East a Panama City Beach.

Queste aggiunte diversificano le nuove offerte abitative di St. Joe, con prezzi che vanno da oltre 300.000 dollari a più di 3 milioni. Entrambi i costruttori prevedono di avere nuove abitazioni pronte per la vendita entro il 2025, dimostrando il continuo interesse dei costruttori e la domanda per i lotti nella regione mentre il Nord-Ovest della Florida attira residenti a tempo pieno da tutto il paese.

La St. Joe Company (NYSE: JOE) ha anunciado nuevas relaciones con Holiday Builders y Harris Doyle Homes, ampliando su programa de constructores a 19 constructores en 16 comunidades activas en el Noroeste de Florida. Holiday Builders ha firmado un contrato para comprar terrenos en la comunidad de Salt Creek at Mexico Beach, mientras que Harris Doyle Homes se convertirá en el cuarto constructor en la comunidad de Breakfast Point East en Panama City Beach.

Estas adiciones diversifican las nuevas ofertas de vivienda de St. Joe, con precios que van desde los 300,000 dólares hasta más de 3 millones. Ambos constructores planean tener nuevas casas listas para la venta para 2025, demostrando el continuo interés de los constructores y la demanda de terrenos en la región, mientras que el Noroeste de Florida atrae a residentes a tiempo completo de todo el país.

세인트 조 회사 (NYSE: JOE)가 홀리데이 빌더스해리스 도일 홈즈와의 새로운 주택 건설자 관계를 발표하며, 북서부 플로리다의 16개 활동 커뮤니티에서 19개 건설자 프로그램으로 확대했습니다. 홀리데이 빌더스는 멕시코 비치의 솔트 크릭 커뮤니티에서 주택 부지를 구매하기 위해 계약을 체결하였고, 해리스 도일 홈즈는 파나마 시티 비치의 브렉퍼스트 포인트 이스트 커뮤니티에서 네 번째 건설자가 될 것입니다.

이 추가는 세인트 조의 새로운 주택 제공을 다양화하며, 가격은 30만 달러 초반에서 300만 달러를 초과하는 수준입니다. 두 건설자는 2025년까지 판매할 새로운 주택을 준비할 계획이며, 이는 북서부 플로리다가 전국 각지에서 온 영구 거주자들을 끌어들이면서 주택 부지에 대한 지속적인 관심과 수요를 나타냅니다.

La St. Joe Company (NYSE: JOE) a annoncé de nouvelles relations avec Holiday Builders et Harris Doyle Homes, élargissant son programme de constructeurs à 19 constructeurs dans 16 communautés actives dans le Nord-Ouest de la Floride. Holiday Builders a signé un contrat pour acheter des terrains dans la communauté de Salt Creek at Mexico Beach, tandis qu'Harris Doyle Homes deviendra le quatrième constructeur dans la communauté de Breakfast Point East à Panama City Beach.

Ces ajouts diversifient les nouvelles offres de maisons de St. Joe, avec des prix allant de 300 000 dollars à plus de 3 millions de dollars. Les deux constructeurs prévoient d'avoir de nouvelles maisons prêtes à la vente d'ici 2025, ce qui démontre l'intérêt continu des constructeurs et la demande de terrains dans la région, alors que le Nord-Ouest de la Floride attire des résidents permanents de tout le pays.

Die St. Joe Company (NYSE: JOE) hat neue Kooperationen mit Holiday Builders und Harris Doyle Homes angekündigt und ihr Bauunternehmerprogramm auf 19 Bauunternehmer in 16 aktiven Gemeinschaften im Nordwesten Floridas ausgeweitet. Holiday Builders hat einen Vertrag zum Kauf von Baugrundstücken in der Salt Creek at Mexico Beach Gemeinschaft unterzeichnet, während Harris Doyle Homes der vierte Bauträger in der Breakfast Point East Gemeinschaft in Panama City Beach wird.

Diese Ergänzungen diversifizieren das Angebot neuer Wohnungen von St. Joe, mit Preisen, die von knapp 300.000 Dollar bis über 3 Millionen Dollar reichen. Beide Bauunternehmer planen, bis 2025 neue Häuser zum Verkauf bereitzustellen, was das fortdauernde Interesse der Bauunternehmer und die Nachfrage nach Baugrundstücken in der Region zeigt, während der Nordwesten Floridas Vollzeitbewohner aus dem ganzen Land anzieht.

Positive
  • Expansion of homebuilder program to 19 builders, indicating strong demand
  • Diversification of home offerings across various price points
  • New development in Salt Creek at Mexico Beach community
  • Addition of fourth builder in Breakfast Point East community
  • Continued attraction of full-time residents to Northwest Florida
Negative
  • None.

Insights

The addition of Holiday Builders and Harris Doyle Homes to St. Joe's builder program is a strategic move that could positively impact the company's residential portfolio. This expansion brings the total number of builders to 19 across 16 active communities, potentially accelerating development and sales velocity in St. Joe's projects.

The entry of Holiday Builders into the Salt Creek at Mexico Beach community marks a significant milestone, being the first contract for single-family homesites in this new development. This could jumpstart activity in the area and generate interest from other builders and buyers.

Harris Doyle Homes' involvement in the Breakfast Point® East community adds further diversity to the builder mix, which could appeal to a broader range of homebuyers. The planned availability of new homes by 2025 suggests a positive outlook for future revenue streams for St. Joe.

Overall, these partnerships indicate strong demand for homesites in Northwest Florida and reflect the region's growing attractiveness to full-time residents from across the country. This trend could lead to sustained long-term growth for St. Joe's residential real estate segment.

The expansion of St. Joe's builder program reflects a broader market trend of increased interest in Northwest Florida's real estate market. The region's appeal to full-time residents from across the country suggests a demographic shift that could have long-lasting impacts on local economies and housing demand.

The wide price range of homes offered by St. Joe's builders ($300,000 to over $3 million) indicates a diverse target market, from first-time homebuyers to luxury seekers. This strategy could help buffer against market fluctuations by catering to various income segments.

The planned completion of new homes by 2025 aligns with projections for continued housing demand in the coming years. However, it's important to monitor macroeconomic factors such as interest rates and employment trends that could influence buyer sentiment and affordability in the medium term.

The inclusion of regional builders like Holiday Builders and Harris Doyle Homes alongside national builders creates a balanced mix that could enhance St. Joe's competitive position in the market.

PANAMA CITY BEACH, Fla.--(BUSINESS WIRE)-- The St. Joe Company (NYSE: JOE) (“St. Joe”) announces new homebuilder relationships with Holiday Builders and Harris Doyle Homes. With the addition of these regional homebuilders, St. Joe’s builder program now includes 19 builders within its residential portfolio of 16 active communities throughout Northwest Florida.

Holiday Builders, headquartered in Melbourne, Florida, recently executed a contract with St. Joe for the purchase of homesites in St. Joe’s Salt Creek at Mexico Beach community—the first contract for single family homesites in this new community. Holiday Builders has been in business for more than 40 years, building homes throughout the state of Florida and southern Alabama.

Harris Doyle Homes, formed in 2008 in Birmingham, Alabama, has grown to be one of Birmingham’s largest homebuilders. Since that time, Harris Doyle Homes has built more than 2,700 homes in 26 residential communities across Alabama and Florida. Having recently contracted to purchase homesites in St. Joe’s Breakfast Point® East community, Harris Doyle Homes will become the fourth builder offering new homes in the growing community located in Panama City Beach.

“Both Holiday Builders and Harris Doyle Homes are great regional builders that will further diversify the new home product for buyers at every stage of life in our residential communities,” said Bridget Precise, Senior Vice President of Residential Real Estate for St. Joe. “These new builder relationships demonstrate continued builder interest in our area and demand for homesites, as Northwest Florida continues to attract full-time residents from across the country.”

Among the 19 participants in St. Joe’s homebuilder program are a mix of large national builders, regional builders operating throughout the southeast and local builders with a focus on Northwest Florida. Currently, new homes offered by these builders in St. Joe’s residential communities range in price from the low $300,000’s to more than $3 million.

Holiday Builders in the Salt Creek at Mexico Beach community and Harris Doyle Homes in the Breakfast Point East community plan to have new homes ready for sale in 2025.

Important Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 21E of the Exchange Act, including statements regarding proposed development in the Salt Creek at Mexico Beach and Breakfast Point East communities. These forward-looking statements are qualified in their entirety by cautionary statements and risk factors set forth in St. Joe’s filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent filings as well as the following: (1) the ability of St. Joe to successfully develop the proposed homesites in the Salt Creek at Mexico Beach and Breakfast Point East communities, (2) the ability of Holiday Builders and Harris Doyle Homes to close on the homesites and (3) the interest of prospective buyers of new homes in the Salt Creek at Mexico Beach and Breakfast Point East communities.

About The St. Joe Company

The St. Joe Company (“Company”) is a real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures. St. Joe has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about the Company can be found on its website at www.joe.com.

©2024 The St Joe Company. “St. Joe®,” “JOE®,” the “Taking Flight” Design®”, “St. Joe (and Taking Flight Design)®,” and “Breakfast Point®,” are registered service marks of The St. Joe Company or its affiliates.

St. Joe Investor Relations Contact:

Marek Bakun

Chief Financial Officer

1-866-417-7132

marek.bakun@joe.com

St. Joe Media Relations Contact:

Mary Beth Lovingood

Corporate Director of Marketing

850-231-6583

marybeth.lovingood@joe.com

Source: The St. Joe Company

FAQ

What new homebuilders has The St. Joe Company (JOE) partnered with?

The St. Joe Company has partnered with Holiday Builders and Harris Doyle Homes, expanding its homebuilder program to 19 builders across 16 active communities in Northwest Florida.

Where will Holiday Builders construct homes for The St. Joe Company (JOE)?

Holiday Builders has contracted to purchase homesites in St. Joe's Salt Creek at Mexico Beach community, marking the first contract for single-family homesites in this new development.

In which St. Joe Company (JOE) community will Harris Doyle Homes build?

Harris Doyle Homes will become the fourth builder offering new homes in St. Joe's Breakfast Point East community, located in Panama City Beach.

What is the price range for new homes in The St. Joe Company's (JOE) residential communities?

New homes offered by builders in St. Joe's residential communities currently range in price from the low $300,000's to more than $3 million.

When are Holiday Builders and Harris Doyle Homes expected to have new homes ready for sale in The St. Joe Company's (JOE) communities?

Both Holiday Builders and Harris Doyle Homes plan to have new homes ready for sale in their respective St. Joe communities by 2025.

St. Joe Company

NYSE:JOE

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3.36B
58.40M
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85.98%
1.12%
Real Estate - Diversified
Land Subdividers & Developers (no Cemeteries)
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United States of America
PANAMA CITY BEACH