St. Joe real estate development company recently announced the commencement of a development for a new residential community here in Panama city. This development project will go to help the housing problem stemming from Hurricane Michael.
Titus Park is the name of the new residential community being built in East Bay County, off County Road 390, just East of State Road 231.
St. Joe officials say they accelerated the project due to the drastic need for housing in Bay County.
After constantly assessing the market place through market research, President and CEO of the company, Jorge Gonzalez says this was a great opportunity.
“We’re focused on workforce housing, housing for regular people. We have started the development already. The first phase is 154 lots. We executed a contract with D.R. Horton to purchase those lots and build homes on them.” said Gonzalez.
Partnering with D.R. Horton construction company, phase 1 is set to be completed by the end of this year but is only part of their project that totals 1,000 home sites.
“Hopefully it will help. It will not solve all the housing demand problems and issues but hopefully it will help because it’s another new residential community in a good location for the workforce in bay county.” said Gonzalez.
St. Joe development company says they anticipate the need for other projects in the future and are excited to help rebuild Bay County.