Windmark JV, LLC, a joint venture involving WindMark Beach, LLC, a wholly-owned subsidiary of The St. Joe Company (NYSE: JOE) (“St. Joe”), late Monday announced the sale of 94 residential home sites in the WindMark Beach Community, a waterfront St. Joe development in Port St. Joe, Florida, to D.R. Horton, Inc. (NYSE:DHI) for the construction of new single family homes.
This contract marks the second agreement between the two companies in the WindMark Beach Community with D.R. Horton having purchased 64 lots in 2017.
“We look forward to continuing our successful relationship with D.R. Horton in the WindMark Beach Community,” said Bridget Precise, vp of residential development for St. Joe. “Demand for new single-family residences remains high in this unique community, and D.R. Horton has proven their ability to deliver a high-quality product and attract new homeowners.”
D.R. Horton will also handle the sale of these homes.
“We are thrilled to continue working with St. Joe in the WindMark Beach Community,” said Scott Whitehurst, division president – Northern Gulf Coast for D.R. Horton. “Its idyllic location on St. Joseph Bay makes for a very picturesque and family-friendly setting and we look forward to further contributing to the unique character of Port St. Joe.”
These new homes will make up the Village Center East and Creekside neighborhoods of the WindMark Beach Community which currently has 77 existing homes and 14 homes under construction. The community is home to a Village Center with unique retailers, an amphitheater, a pool and playground area and vacation rental units.
These new neighborhoods will feature connectivity to the community’s many greenspaces, parks and boardwalks including BeachWalk – a paved multi-use trail running parallel to the St. Joseph Bay coastline. Site development began in 2018 and home construction is expected to begin in 2019 with homes being available for sale in early 2020 starting in the $300,000’s.
