St Joe, partner commence construction on Embassy Suites Hotel in Florida

WCN Editorial Team 28 Aug 2019 NORTH AMERICA BUILDINGS

Florida-based developer The St Joe Company and Miami-based real estate investment and development company Key International have commenced construction on a 255-room Embassy Suites hotel in the Pier Park area of Panama City Beach, Florida, US.

The hotel is under construction on land owned by St Joe adjacent to the Pier Park lifestyle centre on Front Beach Road and will offer unobstructed views of the Gulf of Mexico. After completion, St Joe will manage the operations of the hotel.

The hotel will comprise 255 guest suites, a pool, a fitness centre, meeting space, restaurant, and an upper-level social, catering and event space.

Currently, St Joe is also constructing the TownePlace Suites adjoining Frank Brown Park in Panama City Beach. The company also intends to construct, own and operate a new branded hotel beside Northwest Florida Beaches International Airport.

St Joe and Key International expect the new Embassy Suites to be completed in 2021.

St Joe president and CEO Jorge Gonzalez said: “This development comes at a time when demand for hotel space in the Pier Park area is high. Visitation to Panama City Beach has been rising for the past several years with Northwest Florida Beaches International Airport surpassing the one million passenger mark for the first time last year.

“With this location’s proximity to the Pier Park lifestyle shopping center, which offers approximately 900,000 square feet of shopping, dining and entertainment, the Russell-Fields Pier and the Gulf of Mexico we are thrilled to work with Key International and to see construction begin.”

The Panama City Beach Embassy Suites hotel is one of 30 residential, commercial or hospitality projects that St Joe has or plans to begin in 2019.

Key International co-president Diego Ardid said: “We are excited to be working with St. Joe on the development of this new Embassy Suites in Panama City Beach. We believe this property will complement the area’s thriving tourism sector and family-friendly nature in an unparalleled location.”

Previously, Key International delivered the Embassy Suites St Augustine Beach Oceanfront Resort in 2018.

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Image: Site of the planned Embassy Suites Hotel in Panama City Beach, Florida. Photo: Courtesy of Business Wire.

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