Sales are off to a strong start

Sales are off to a strong start in WaterColor, a new urbanist resort town in the Florida Panhandle. Located immediately adjacent to Seaside, WaterColor is being developed by Arvida, an arm of the St. Joe Company, Florida’s largest landowner. The first 22 beachfront multifamily residences under construction sold out the first day they were offered, and contracts were signed for approximately $27 million. “By creating a true sense of place at WaterColor, we intend to not only add significant incremental value to the beachfront, but more importantly to push that value from the beach inland,” says Arvida President Jim Motta. WaterColor will eventually have 1,140 homes, a beach club, an inn, and 100,000 square feet of commercial space. The master plan is by Jacquelin Robertson of Cooper Robertson Architects.