JV Plans Luxury Pensacola Senior Community – Multi-Housing News

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Watersound Fountains. Image courtesy of St. Joe Co.

A partnership between The St. Joe Co., Watermark Retirement Communities and BRW Origins LLC plans to build Watersound Fountains, a 148-unit luxury senior housing community in Rosemary Beach, Fla.

The four-story project will be located within WaterSound, St. Joe’s 1,400-acre development in Walton County. Site work is already underway, with the property slated to open its doors in 2023. Watermark Retirement Communities will operate the community upon delivery.

Planned amenities for Watersound Fountains include a spa, a wellness center, a pool and multiple dining spots. The community will also provide its residents with an assortment of social, educational and recreational programs.

The independent living property will be near Watersound Origins—a master-planned community located at 136 N. Splash Drive. The project will also be close to Watersound Town Center and an announced Publix store.

Yardi Matrix data shows that the Pensacola metro has nearly 4,000 multifamily units currently under construction, equal to nearly 11 percent of the market’s inventory. Construction has been booming statewide: As of May, more than 100,000 units were underway across the Sunshine State.