The St. Joe Company broke ground on a third Watersound Real Estate sales center on February 19 2026. The new location, the Watersound West Bay Center in Panama City Beach, Florida, will join the existing offices at WaterColor Town Center and Watersound Town Center, making Watersound Real Estate the sole brokerage operating within the three lifestyle communities that comprise the Latitude Margaritaville® Watersound development.
Watersound Real Estate is a joint venture between The St. Joe Company, Minto Communities USA and Margaritaville Holdings. The brokerage’s asset‑light model focuses on recurring revenue from services such as title and insurance agencies, which will also be co‑located at the new center. By consolidating all real‑estate, title and insurance services in one location, St. Joe is creating a seamless, vertically integrated home‑buying experience for residents of the Latitude Margaritaville® Watersound communities.
The brokerage launched in May 2025, quickly building a team of more than 50 agents and generating over $230 million in sales volume in less than a year. This rapid growth underscores the strong demand for homes in the Northwest Florida market and the effectiveness of the brokerage’s integrated service model.
The Latitude Margaritaville® Watersound development is a partnership that is expected to include 3,500 homes. The project’s partnership with Minto Communities and Margaritaville Holdings brings together residential development expertise, brand recognition and a lifestyle‑oriented community design that appeals to the 55‑plus demographic.
Northwest Florida has experienced significant migration and development, with the State Road 79 corridor described as a fast‑growing area. The new sales center is strategically positioned to capture the increasing demand for homes in this region and to support the broader growth strategy of The St. Joe Company in the area.
Senior Vice President of Residential Sales for Watersound Real Estate, Diane Hausler, said the expansion to Watersound West Bay Center is a "natural next step" to broaden reach and provide greater access to the "Watersound lifestyle." President and CEO Jorge Gonzalez noted that the Northwest Florida housing market has "grown and evolved into one of the most desirable places to own a home in the country" and that the brokerage aligns with St. Joe’s strategy of expanding asset‑light businesses.
By co‑locating title and insurance agencies with the brokerage, the new center will offer a comprehensive suite of services that enhances the customer experience and creates synergistic revenue opportunities. The expansion signals confidence in continued demand for homes in the Latitude Margaritaville® Watersound communities and reinforces St. Joe’s commitment to a diversified, service‑oriented business model.
The groundbreaking marks a significant milestone in St. Joe’s integrated development and service strategy, positioning the company to capture growing demand in Northwest Florida while strengthening its recurring‑revenue streams through the Watersound Real Estate brokerage.
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