Joint Venture Unveils Plans for Watersound Fountains Independent Living in Panama City Beach, Florida

by Jeff Shaw

PANAMA CITY BEACH, Fla. — A joint venture between The St. Joe Company, Watermark Retirement Communities and BRW Origins LLC has released plans for Watersound Fountains, a 148-unit independent living community in Panama City Beach.

The four-story property will be part of the Watersound Origins development in the waterfront vacation destination located on Florida’s panhandle. The planned community is currently under development adjacent to Watersound Town Center and a future Publix supermarket. Watermark will be the operator.

“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,” says Bryan Schachter, chief investment officer with Watermark Retirement Communities.

St. Joe, with partner Watercrest Senior Living, opened assisted living community Watercrest Santa Rosa Beach earlier this year. “This is our second venture in senior living in Walton County,” says Dan Velazquez, senior vice president of commercial real estate for St. Joe.

Site development on Watersound Fountains in currently underway. The joint venture plans to complete construction and welcome the first residents in 2023.

You may also like