The st. joe company and homecorp announces the construction of an additional 120 apartment homes at pier park crossings in panama city beach, florida

The st. joe company and homecorp announces the construction of an additional 120 apartment homes at pier park crossings in panama city beach, florida. these apartment homes are currently under construction and once complete will bring the total number of units in pier park crossings to 360. in june of 2018, st. joe and homecorp began the construction of the first phase of apartment homes at pier park crossings located on north pier park drive adjacent to frank brown park. plans for the initial phase called for 240 apartment homes. currently, 192 of these units are complete and nearly 100% leased. plans call for the remaining units to be completed in december. site work on the second phase is currently underway. plans call for these apartment homes to be available for lease in late 2020. the second phase of apartment homes at pier park crossings is one of approximately 30 new residential, commercial or hospitality projects that st. joe has or intends to initiate in 2019 or in early 2020. for more information on the company’s current project pipeline, see the company’s business strategy section of the 2018 annual report on form 10-k, quarterly reports on form 10-q and other filings with the securities exchange commission (“sec”).
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