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St. Joe and Sacred Heart Announce Plans for a New Healthcare Facility at the Watersound Origins Community

August 20, 2018

WATERSOUND, Fla.--(BUSINESS WIRE)--Aug 20, 2018--The Watersound Origins community will soon welcome a new partner offering healthcare services. Commercial Real Estate Development, LLC, a subsidiary of The St. Joe Company (“St. Joe”) and Sacred Heart Health System (“Sacred Heart”), a leading provider of high quality healthcare to children and adults in Northwest Florida, have entered into a lease for construction of a new healthcare facility at the entrance of the Watersound Origins community.

The new healthcare facility, conveniently located along Highway 98, initially plans to open as a 6,700 square foot multi-specialty ambulatory clinic offering primary care and OB/GYN services. Plans for the healthcare facility would allow for future expansion to 13,000 square feet of space offering additional specialty care services.

Design collaboration is currently underway between the parties with the expectation that construction of the facility will begin this Fall, with an estimated completion date in 2019.

“This new facility supports our mission to offer residents of our community convenient access to expert healthcare covering a wide range of needs,” said Roger Hall, President of Sacred Heart Hospital on the Emerald Coast. “Offering quality services at a convenient location is a priority for Sacred Heart.”

“We are pleased to continue our relationship with Sacred Heart to provide quality and accessible healthcare services to Watersound Origins homeowners and the residents of South Walton County,” said Jorge Gonzalez, President & Chief Executive Officer of St. Joe. “This new facility is only the beginning of a much larger plan to meet the expected commercial needs of the residents in the Watersound community.”

Future commercial activity planned at the Watersound Origins community includes retail, restaurant, and office space. For more information regarding the Watersound Origins commercial opportunities and other St. Joe commercial opportunities, contact Jordan Rosenau, St. Joe Sales & Leasing Manager, at 850.231.6430.

Important Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of Section 21E of the Exchange Act, including statements regarding plans to construct and operate a new healthcare facility as well as future commercial activity at the Watersound Origins community. These forward-looking statements are qualified in their entirety by cautionary statements and risk factors set forth in St. Joe’s filings with the SEC, including its Second Quarter Report on Form 10-Q filed with the SEC on August 1, 2018 as updated by subsequent current report filings, as well as the following: (1) the ability of the parties to mutually agree on details related to the proposed healthcare facility, (2) the ability of St. Joe to successfully complete the proposed facility and future commercial facilities, and (3) the interest of prospective users for future commercial activity planned at the Watersound Origins community.

About the Watersound Origins community:

The Watersound Origins community offers year-round, vacation-style living. Thoughtfully planned neighborhoods embrace the unique environmental resources of the land at a distinct value. Tucked away amongst nature, less than three miles from the pristine South Walton beaches and the excitement of Northwest Florida’s Scenic Highway 30A, the Watersound Origins community provides a coastal lifestyle—making it a place for families to connect and grow, as well as a haven for those dreaming of a new chapter in their lives. With access to standout amenities and features such as the Watersound Café, the pool at Village Commons, hiking trails, Origins Golf Course, a fitness center, and a multitude of outdoor activities, the community provides an active, coastal lifestyle. More information can be found on the website at www.joe.com.

About The St. Joe Company:

The St. Joe Company, together with its consolidated subsidiaries, is a real estate developer and manager. The Company owns land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. The Company also owns various commercial, resort, and club properties. More information about the Company can be found on its website at www.joe.com.

About Sacred Heart Health System:

In Florida, Ascension operates Sacred Heart based in Pensacola and St. Vincent’s HealthCare based in Jacksonville. Together, Ascension operates seven hospitals and more than 100 other sites of care, and they employ more than 10,000 associates. Across the region, Sacred Heart and St. Vincent’s have served North Florida communities for more than 145 years. In fiscal year 2017, they provided $168 million in community benefit and care of persons living in poverty. Ascension ( www.ascension.org ) is a faith-based healthcare organization dedicated to transformation through innovation across the continuum of care. As the largest non-profit health system in the U.S. and the world’s largest Catholic health system, Ascension is committed to delivering compassionate, personalized care to all, with special attention to persons living in poverty and those most vulnerable. Ascension includes approximately 165,000 associates and 34,000 aligned providers. Ascension’s Healthcare Division operates more than 2,600 sites of care – including 153 hospitals and more than 50 senior living facilities – in 22 states and the District of Columbia. For more information on Sacred Heart Health System, visit  www.sacred-heart.org.

©The St Joe Company 2018. “St. Joe®”, “JOE®”, the “Taking Flight” Design®, “St. Joe (and Taking Flight Design)®”, “Watersound®” and “Watersound Origins®”are registered service marks of The St. Joe Company or its affiliates.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180820005629/en/

CONTACT: St. Joe

Investor Relations Contact:

Marek Bakun, 1-866-417-7132

Chief Financial Officer

Marek.Bakun@Joe.Com

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA

INDUSTRY KEYWORD: HEALTH HOSPITALS CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY MANAGED CARE

SOURCE: The St. Joe Company

Copyright Business Wire 2018.

PUB: 08/20/2018 06:11 PM/DISC: 08/20/2018 06:11 PM

http://www.businesswire.com/news/home/20180820005629/en

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