Watercrest Santa Rosa Beach Gains Recognition as The St. Joe Company Prepares to Expand Its Senior Living Offerings
June 28 2023 - 4:24PM
Business Wire
Watercrest Santa Rosa Beach has been recognized by U.S. News
& World Report as a “Best Assisted Living Community” and “Best
Memory Care Community” in the 2023-2024 Best Senior Living
Communities Report. The assisted living community is a joint
venture between The St. Joe Company (NYSE: JOE) (“St. Joe”) and
Watercrest Senior Living Group, LLC (“Watercrest”) and is located
at 205 West Hewett Road in Santa Rosa Beach, Florida.
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Watercrest Santa Rosa Beach (Photo:
Business Wire)
Watercrest Santa Rosa Beach, which opened in 2021, offers 75
assisted living and 32 memory care apartments with resort-style
service. Residents enjoy pampering in the elegant Spa W, savor
private label Watercrest wines at the bistro, and relish the
flavors of locally grown, seasonal ingredients and organic fare
whether dining outdoors, bistro-style, or in the chef's private
dining room.
This is the second consecutive year Watercrest Santa Rosa Beach
has been recognized by U.S. News & World Report, earning "Best"
status by achieving the highest possible rating for both Assisted
Living and Memory Care.
"It is a distinct honor to achieve the U.S. News & World
Report designation of a 'Best Assisted Living' and a 'Best Memory
Care' community for two straight years," says Marc Vorkapich,
principal and Chief Executive Officer for Watercrest. "This truly
reflects the spectacular work of our Watercrest Santa Rosa Beach
team and their dedicated leader, Kim Haddon, in creating an
award-winning environment for our seniors."
Later this year, with its joint venture partners, St. Joe
intends to open Watersound Fountains, a luxury independent living
community, near the entrance to St. Joe’s Watersound Origins
community. Watersound Fountains will feature 148 independent living
apartments and a suite of on-site amenities.
“These two communities are complementary to each other given
that they cater to residents at different stages of life,” said Dan
Velazquez, Senior Vice President of Commercial Real Estate for St.
Joe. “We are very proud of this national recognition for Watercrest
Santa Rosa Beach, and we look forward to the opening of Watersound
Fountains. Each fills a specific need in the market for seniors
looking to call Northwest Florida home.”
Click here for more information on Watercrest Santa Rosa
Beach.
Click here for more information on Watersound Fountains.
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 the proposed Watersound Fountains independent
living community. 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, 2022 and subsequent
filings as well as the following: (1) the ability of the joint
venture to complete the proposed Watersound Fountains independent
living community and (2) the interest of prospective residents in
an independent living facility in Northwest Florida.
About The St. Joe Company
The St. Joe 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. On a regular basis, the Company releases a
video showing progress on projects in development or under
construction. See https://www.joe.com/video-gallery for more
information.
About Watercrest Senior Living Group
A certified Great Place to Work, Watercrest Senior Living Group
specializes in the development and operations of assisted living
and memory care communities, and the growth of servant leaders. For
information, visit www.watercrestslg.com.
©The St Joe Company 2023. “St. Joe®”, “JOE®”, the “Taking
Flight” Design®, “St. Joe (and Taking Flight Design) ®”,
“Watersound®” and “Watersound Origins®” are registered service
marks of The St. Joe Company or its affiliates.
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version on businesswire.com: https://www.businesswire.com/news/home/20230628829182/en/
St. Joe Investor Relations Contact: Marek Bakun Chief Financial
Officer 1-866-417-7132 marek.bakun@joe.com St. Joe Media Relations
Contact: David Demarest Director of PR & Communications
1-850-213-5137 david.demarest@stjoe.com
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