PANAMA CITY BEACH, FL—The St. Joe Co. and Panama City have executed a long-term land lease to bring a new hotel and restaurant to the city's downtown waterfront district. Under the terms of the lease St. Joe will lease a city-owned parcel to develop, construct and operate a waterfront hotel and standalone restaurant on a portion of the Panama City Marina property fronting beautiful St. Andrews Bay.
It took close to two years of planning, discussions and public meetings for this deal to be reached.
St. Joe initially expressed interest in the project in September of 2018 in a letter to the city and reaffirmed that interest in November of that year after Hurricane Michael, a Category 5 storm, caused significant damage to the city's downtown district.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
