PANAMA CITY, Fla. (WMBB) — Bay County is growing, and new development is on the way, with the St. Joe Company having some 30 projects planned with many under construction.

Senior Vice President of the St. Joe Company Rhea Goff was the keynote speaker at Friday morning’s Bay County Chamber’s ‘First Friday’ meeting.

Some of the projects are quite large, such as phase one of the Margaritaville Town Center 55+ community, which will include 3,500 new homes.

But the area has the opportunity for tens of thousands of homes depending upon market demand.

Bay County Chamber of Commerce Chairman Christopher Moore said one of those projects includes the first hospital for Panama City Beach.

“Latitude Margaritaville, the hospital that is forthcoming are tremendous assets that going to help both the housing situation but maybe more importantly the medical situation,” Moore said. “It is going to be a research hospital in conjunction with Tallahassee Memorial [Hospital] and Florida State Medical Schools and again it is long overdue to get a medical facility of this magnitude.”

The hospital is slated to sit off Highway 79 at the intersection of Philip Griffitts Senior Parkway, only 11 miles from Northwest Florida Beaches International Airport.