The St. Joe Company Announces New Builder Relationship With National Luxury Homebuilder, Toll Brothers, Inc.
February 14 2024 - 4:21PM
Business Wire
The St. Joe Company (NYSE: JOE) (“St. Joe”) announces a new
builder relationship and the execution of a contract for homesites
in Panama City Beach with Toll Brothers, Inc. (NYSE: TOL) (“Toll
Brothers”), the nation's leading builder of luxury homes.
“We frequently hear from builders who, like us, are encouraged
by the inbound migration that Northwest Florida is seeing from all
parts of the country,” said Bridget Precise, Senior Vice President
of Residential Real Estate for St. Joe. “We are thrilled to be
working with Toll Brothers to bring their luxury home product to
our market as we continue to diversify our builder relationships
and the product mix in our residential communities."
Toll Brothers, an award-winning Fortune 500 company founded in
1967, currently builds homes in 24 states nationwide and was named
the World's Most Admired Homebuilder in Fortune Magazine's 2023
survey of the World's Most Admired Companies®, the eighth year it
has been so honored. Toll Brothers has also been named Builder of
the Year by Builder magazine and is the first two-time recipient of
Builder of the Year from Professional Builder magazine.
"We are excited to work with St. Joe and to bring our experience
in luxury homebuilding to the Northwest Florida market at a time of
such high demand," said Greg Netro, Group President of Central and
Northern Florida for Toll Brothers.
The homesites are under development in the Ward Creek community
off of State Highway 79 in Panama City Beach. These homesites are
planned for Breakwater at Ward Creek, a new community that is
planned for 348 new homes. Toll Brothers plans to begin new home
sales later in 2024.
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 Ward Creek
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 St. Joe to successfully
develop the proposed homesites in the Ward Creek Community, (2) the
ability of Toll Brothers to close on the homesites and construct
homes and (3) the interest of prospective buyers of new homes in
the Ward Creek community.
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 Toll Brothers,
Inc.
Toll Brothers, Inc., a FORTUNE 500 Company, is the nation's
leading builder of luxury homes. The Company was founded 56 years
ago in 1967 and became a public company in 1986. Its common stock
is listed on the New York Stock Exchange under the symbol “TOL.”
The Company serves first-time, move-up, empty-nester, active-adult,
and second-home buyers, as well as urban and suburban renters. Toll
Brothers builds in over 60 markets in 24 states: Arizona,
California, Colorado, Connecticut, Delaware, Florida, Georgia,
Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New
Jersey, New York, North Carolina, Oregon, Pennsylvania, South
Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well
as in the District of Columbia. The Company operates its own
architectural, engineering, mortgage, title, land development,
smart home technology, and landscape subsidiaries. The Company also
develops master-planned and golf course communities as well as
operates its own lumber distribution, house component assembly, and
manufacturing operations.
©The St Joe Company 2024. “St. Joe®”, “JOE®”, the “Taking
Flight” Design®, and “St. Joe (and Taking Flight Design) ®” 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/20240214615057/en/
St. Joe Investor Relations Contact: Marek Bakun Chief
Financial Officer 1-866-417-7132 marek.bakun@joe.com
St. Joe Media Relations Contact: Mike Kerrigan Vice
President of Marketing & Communications 1-850-231-6426
mike.kerrigan@joe.com
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