Walton County Commission Unanimously Approves Land-Use Entitlements for the St. Joe Company's WaterSound Project
biz.yahoo.com
Wednesday June 8, 4:10 pm ET
WaterSound Land-Use Residential Entitlements Now 1,074 Single-Family and 256 Multifamily Units
JACKSONVILLE, Fla.--(BUSINESS WIRE)--June 8, 2005--The Walton County Board of County Commissioners voted unanimously last night to approve a Development of Regional Impact (DRI) for WaterSound, a proposed 1,330-unit mixed-use development in Walton County, Florida on approximately 1,402 acres owned by The St. Joe Company (NYSE:JOE).
Walton County had previously approved a preliminary development order for 478 of the planned units. The DRI includes the balance of 596 single family units and 256 multifamily units. The DRI also provides for the development of approximately 457,000 square feet for retail and office uses.
WaterSound, set between U.S. 98 and the Intracoastal Waterway, is a resort community approximately three miles from WaterSound Beach. WaterSound is being planned for the second home and pre-retirement markets with six and nine-hole golf courses along with pools and other amenities.
The DRI also included an additional 50 residential units at Camp Creek Golf Club that had been previously approved.
Final approval of the DRI is subject to a 45-day review by the Florida Department of Community Affairs. In addition, certain regulatory and environmental permits are required for full build-out.
The St. Joe Company, a publicly held company based in Jacksonville, is one of Florida's largest real estate operating companies. It is engaged in town, resort, commercial and industrial development, land sales and commercial real estate services. JOE also has significant interests in timber.
More information about JOE can be found at our web site at joe.com. |
