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St. Joe Company and Watercrest to Develop New Senior Living Community in Florida

4:18AM ET 11/28/2018 MT Newswires
The St. Joe Company (JOE) and Watercrest Senior Living Group, LLC said late Tuesday that they are planning to form a joint venture that will oversee the development of a new assisted living and memory care community in Santa Rosa Beach, Florida.

The community will consist of 75 units dedicated to assisted living and 32 units allotted for memory care. The two parties have agreed that St. Joe will be the majority owner of the project while Watercrest will be responsible for operations.

Both companies said that they expect construction to commence in 2019 and to welcome residents in the later part of 2020.

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