The St. Joe Company, Watermark Retirement Communities and BRW Origins, LLC Announce a Joint Venture to Bring Watersound Fountains, a Luxury Independent Living Community, to the Watersound Origins Community

The St. Joe Company (NYSE: JOE) (“St. Joe”), Watermark Retirement Communities and BRW Origins, LLC announce the formation of a joint venture to construct Watersound Fountains, a luxury independent living community. Plans call for Watersound Fountains to be located near the Watersound Origins community in close proximity to the famed Scenic Highway 30A corridor and the upscale beach communities of Rosemary Beach, Alys Beach and Watersound Beach.

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The planned Watersound Fountains independent living community. (Photo: Business Wire)

Plans call for Watersound Fountains to be a four-story building featuring 148 independent living apartments as well as planned amenities including a spa, a wellness center, a pool and multiple dining venues. The community is being designed for seniors who generally require little assistance with activities of daily living. Residents will have access to on-property dining and a variety of planned social, educational and recreational programs. The planned community is currently under development adjacent to Watersound Town Center and the future Publix Super Market.

Upon completion, Watersound Fountains is planned to be operated by Watermark Retirement Communities, a nationally recognized innovator in senior living and care. “We are dedicated to enhancing the lives of our residents through fine services, engaging programming, leading integrative wellness and a lifestyle of choice” said Bryan Schachter, Chief Information Officer, Watermark Retirement Communities. “This extraordinary location will offer our residents easy access to natural coastal beauty, cultural activities and amenities that make Northwest Florida such a great place to call home. We look forward to welcoming the first residents to this exceptional community.”

St. Joe, with partner Watercrest Senior Living, opened Watercrest Santa Rosa Beach, an assisted living facility earlier this year. “This is our second venture in senior living in Walton County,” said Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. “At Watersound Fountains we intend to build a community that will appeal to seniors by creating an environment that supports our residents’ overall well-being and quality of life.”