St. Joe buys Shark?s Tooth Golf Course

[Joe Complete]

Transaction Includes 28 Home Sites with Golf Course and Lake Views in Wild Heron

http://home.businesswire.com/portal...5919&newsLang=en&ndmConfigId=1000618&vnsId=33

 

[Joe Complete]

Re: The St. Joe Company Completes the Acquisition of Shark?s Tooth Golf Course/Bay Co

And a bit more info from St. JOE


Dear WaterColor Homeowner,

We are very pleased to confirm The St. Joe Company has purchased Shark's Tooth Golf Club and the club facilities at Wild Heron from Lake Powell, LLC.

The purchase includes the Shark's Tooth Golf Course, clubhouse, beach club, tennis facility, golf club membership program and the twenty-eight remaining Wild Heron home sites. Shark's Tooth is a premier golf course designed by PGA champion Greg Norman and was recently ranked the #7 Best Course in Florida by Golf Digest.

It is exciting to consider the possibilities that single ownership of Camp Creek, Origins and Shark's Tooth will bring to Northwest Florida golf. The addition of the Shark's Tooth Golf Club creates opportunities to enhance St. Joe's golf programs and the options available to current Camp Creek and Shark's Tooth golf members, as well as non-golf club member homeowners in certain JOE designated communities.

Over the next couple of weeks, we will be formalizing our new membership programs that will include a membership featuring combined play at both Camp Creek and Shark's Tooth and a program that provides a limited play opportunity for JOE homeowners in the communities of WaterColor, WaterSound, WaterSound Beach, WaterSound West Beach and RiverCamps at Crooked Creek. It is our intention to announce the programs no later than September 14, 2007.

We hope you are as excited about this great addition as we are. We will communicate the new JOE golf opportunities by email and by posting them on the homeowner website, Town Talk.

 

[Buckhead Rick]

Re: The St. Joe Company Completes the Acquisition of Shark?s Tooth Golf Course/Bay Co

This has been rumored for several months but the news will surely help ALL Joe developments in the Panhandle become more of a golfer's resort. It probably won't help values now but let's hope latter.

 

[Gypsea]

Re: The St. Joe Company Completes the Acquisition of Shark?s Tooth Golf Course/Bay Co

Good news for homeowners that are golfers but not members of Camp Creek!!!

 

[Linda]

Re: The St. Joe Company Completes the Acquisition of Shark?s Tooth Golf Course/Bay Co

Good news for homeowners that are golfers but not members of Camp Creek!!!

Are you saying that this is bad for camp creek members? If so - why?

 

[nmosley]

Re: The St. Joe Company Completes the Acquisition of Shark?s Tooth Golf Course/Bay Co

I was just about to post the contents of our letter and am happy to see that it has already made it on the blog...you guys are on top of everything! I was most interested in Shelly's take on this since the discussion on the value of JOE stock has been bantered around this week. What, if anything, does this acquisition really mean? Anyone have thoughts?

We are drenched here in Houston today and I am really wishing we were there instead - like always! I hope you are all dry and well!

Back to lurking for now!

 

[Kurt]

Re: The St. Joe Company Completes the Acquisition of Shark?s Tooth Golf Course/Bay Co

This is big.

Shark's tooth and St. Joe's other recent acquisitions of Port St. Joe Marina and Baypoint Marina, the airport approval, and other happenings are all evidence of a long term strategy of panhandle development that is still in its early stages.

I have no desire to influence people and no particular agenda, but I will say this: assuming you're interested in the game, if you're standing on the sideline the game is passing you by. Hard times for some create big opportunities for others. The escalation in prices and development in SoWal and Panama City Beach in recent years was the machine starting to roll. It can't be stopped now. It will keep rolling no matter whether you like it or not.

The machine divides our community into 2 groups. To some the machine is a steamroller and to some a party bus.

 

[Gypsea]

Re: The St. Joe Company Completes the Acquisition of Shark?s Tooth Golf Course/Bay Co

Are you saying that this is bad for camp creek members? If so - why?

Margarita, it won't be bad for Camp Creek members but hopefully will at least give some options to homeowners who are not golf club members but would like to play the course or now, courses, occasionally. I believe it what should have been done originally.

 

[Linda]

Thanks Gypsea - We are members of Camp Creek so I am anxious to see how this will impact us.

 

[Gypsea]

Hopefully they will make it a win-win for everyone involved.