The project, which is being developed in tie-up with the company’s joint venture partner HomeCorp, is part of its envisioned larger master-planned community.
According to St Joe , site work for the apartment community started at the west end of Mexico Beach, close to US Highway 98 and the public boat ramp of the town.
Plan for the 216-unit apartment community includes one, two, and three-bedroom apartments, each featuring a screened balcony or patio.
Amenities outlined in the plan include a clubhouse with a fitness centre and an internet café, a pool, a playground and a dog park. The community will also have a gated entry for residents.
The St Joe Company also plans to add 201 additional apartments to the community in the upcoming phases.
First apartment units in this apartment community are expected to be available for lease in 2023, with the first phase slated to be finished by early 2024.
St Joe Commercial Real Estate senior vice-president Dan Velazquez said: “The demand for housing in Mexico Beach is very high and with the ongoing redevelopment of Tyndall Air Force Base, we expect that demand to continue to grow.
“Given the location, the planned amenities and the mix of floorplans that we plan to offer, our anticipation is that this community will attract a mix of people who serve or work at the base, as well as people who just want to enjoy the unique Mexico Beach lifestyle.”
These apartments will be part of a 42-unit townhome community that is being developed in St Joe ’s master-planned community.
This planned community will comprise a total of 944 residences with a mix of single-family homes and additional apartments. It will also feature townhomes and a walkable commercial village. St Joe ’s apartment portfolio consists of 1,333 units that are either completed or under construction.