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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.
