St. Joe Company revamps real estate strategy

in Uncategorized by

The St. Joe Company, a massive landowner across North Florida, announced Friday that it will reduce spending on infrastructure, amenities and master-planned community development while also seeking to “reposition” property in real-estate markets, reports the News Service of Florida. “As part of this repositioning, the company expects properties may be sold in bulk, in undeveloped parcels, or at lower price points,” the company said in a news release. St. Joe has struggled financially during the real-estate downturn, after embarking on a series of major development projects in areas such as the Panhandle. In the news release, Chief Executive Officer Park Brady said the company has looked to reduce expenses and improve investment returns “while continuing to minimize potential risk to the company in light of uncertain economic conditions.”

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.