by: Mike Seemuth
The West Palm Beach-based company would build on lots near Panama City developed by St. Joe Company
The residential development arm of West Palm Beach-based Kolter plans to build 466 homes in Florida’s Panhandle region.
Kolter would build the homes near Panama City at Watersound, a property owned by St. Joe Company.
St. Joe agreed to develop finished lots at Watersound for Kolter that would be 40 feet, 50 feet and 60 feet wide.
Kolter expects to have newly built houses for sale in the Origins section of the Watersound property in 2020.
In addition to the planned Kolter development, Watersound Origins already has 240 existing homes and 27 homes under construction.
About 360 lots are in various stages of development in the Stillwater community at Watersound Origins for home builders Huff Homes, Romair Construction and Dune Construction.
Home prices in the Stillwater community start under $400,000.
In May, Margaritaville Holdings, Minto Communities USA and St. Joe Company announced plans to develop a 55-and-older residential community at Watersound called Latitude Margaritaville Watersound.
Source: The Real Deal