St. Joe Company (the) · NYSE:JOE
St. Joe Company (the) — The Fourth Annual JMP Securities Research Conference 2005
49 slides from St. Joe Company (the)'s conference presentation, Mar 1, 2005
Slide 1: The Fourth Annual JMP Securities Research Conference
The Fourth Annual JMP Securities Research Conference San Francisco, CA March 1, 2005 (c) 2005 The Three Most Important Words in Real Estate
Slide 2: Location
LOCATION
Slide 3: Location
LOCATION
Slide 4: Location Imagination
LOCATION IMAGINATION
Slide 5: Copyright and Forward-Looking Statements
Copyright 2005, The St. Joe Company. "St. Joe," "JOE," "Advantis," "Artisan Park," "Paseos,""Pier Park," "RiverCamps," "RiverTown," "SouthWood," "SummerCamp," "Victoria Park," "WaterColor," "WaterSound," "WindMark," and the "taking flight" design are service marks of The St. Joe Company Statements i
Slide 6: More About Forward Looking Statements
More About Forward Looking Statements Forward-looking statements are subject to numerous assumptions, risks and uncertainties. Factors that could cause actual results to differ materially from those contemplated by a forward-looking statement include the risk factors described in our annual report o
Slide 7: Today's Discussion
Today's Discussion Extraordinary demographic opportunity Extraordinary assets - unparalleled inventory of high value, low basis land in Florida Management team with proven ability to create value Business model delivers value for shareholders and the people of Northwest Florida
Slide 8: Extraordinary Demand: Baby Boomers
Extraordinary Demand The Baby Boomer generation entered the primary home buying demographic in the 1990s In the 2000s, a huge, unprecedented number of Baby Boomers are about to enter the SECOND home buying demographic... INDIVIDUALS BETWEEN AGES 45 AND 60 65 60 55 50 45 40 35 30 1964 1974 1984 1994
Slide 9: Extraordinary Demand: Why Florida?
Extraordinary Demand Attractive climate No state income taxes Low cost of living by national standards Growing state economy Why Florida? 1. Source: news-press.com, Frank D'Alessandro, 02/13/05 2. Source: State of Florida Agency for Workforce Innovation; American Metrostudy Corp/Orlando Business Jou
Slide 10: Extraordinary Assets: JOE's Land Holdings
Extraordinary Assets JOE's Land Holdings Approximately 820,000* acres in Northwest Florida Hundreds of miles of frontage on the Gulf of Mexico, bays, rivers and waterways Nearly 40 miles of Florida coastline Including 5 miles of sandy beach * As of 12/31/04
Slide 11: Land in the Ten Mile Coastal Zone
Most of the land in the ten mile coastal zone around Florida is either already developed or unsuitable for development JOE owns approximately 352,000 acres within the ten mile coastal zone JOE also owns approximately 468,000 acres outside this coastal zone National Wetlands Inventory, Florida Depart
Slide 12: Extraordinary Demand: Florida's Great Northwest
Extraordinary Demand Florida's Great Northwest
Slide 13: Extraordinary Assets: Approximately 820,000 acres
Extraordinary Assets The St. Joe Company owns approximately 820,000 acres, concentrated primarily in Northwest Florida Area Shown: Approximately 175 miles west to east
Slide 14: Business Model - Today's JOE Operating Units
Business Model - Today's JOE Operating Units St. Joe Towns & Resorts One of Florida's premier master- planned community developer St. Joe Commercial Land sales and development Advantis Portfolio of operating buildings St. Joe Land Company Land sales RiverCamps Ranches, Farmsteads, Woodlands Conserva
Slide 15: duPont Trust/Nemours Trust Ownership vs. JOE Stock Price
$69.25 7.5% NYSE: JOE duPont Trust/Nemours Trust Summary of Investment in JOE through 02/01/2005 NYSE: JOE stock price through 02/01/2005 duPont Trust & Nemours Ownership History $ 0 $10 $20 $30 $40 $50 $60 $70 $80 Trust Ownership vs. JOE Stock Price 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 7
Slide 16: Business Model Delivers Value for Shareholders
Business Model Delivers Value for Shareholders JOE creates value by repositioning its timberlands for higher and better uses Our goal and expertise is to convert low-value timberland to high-value residential and commercial property Timber Conservation St. Joe Land RiverCamps Resort & Residential Re
Slide 17: St. Joe Towns & Resorts
St. Joe Towns & Resorts WaterColor WaterSound Beach SouthWood St. John's Golf & Country Club Palmetto Trace Victoria Park JOE's first generation of Towns & Resorts is performing well
Slide 18: St. Joe Towns & Resorts: The Next Generation
St. Joe Towns & Resorts The Next Generation
Slide 19: Future Opportunity
Future Opportunity JOE has nearly 30,000 units entitled or in various stages of the land-use entitlement process in a variety of markets across Florida
Slide 20: West Beach WaterSound
West Beach WaterSound WaterSound West Beach WaterSound Beach WaterSound CampCreek Golf Club
Slide 21: WaterSound West Beach
WaterSound West Beach A high-end, exclusive community on the beach side of County Road 30-A In predevelopment design: Master planning to be done by Cooper, Robertson & Partners Walton County Commission approved 199-unit first phase in 1st Quarter 2004 Sales expected to begin in 2005 Land Use approve
Slide 22: WaterSound
WaterSound WaterSound WaterSound East
Slide 23: WaterSound
WaterSound A top-tier, highly amenitized, large-scale, near-beach community on former JOE timberland DRI underway: 1,060 units 1,406+ acres 471,000 feet of commercial space Partial approval from County on 487 units and 35,000 square feet of commercial space Infrastructure construction underway JOE o
Slide 24: WindMark Beach
VWindMerk Beach if you don't know JOE 2005 | St. Joe 28
Slide 25: WindMark Beach
WindMark Beach A top of the market, highly amenitized, large scale beach community WindMark Beach is designed to capture the timelessness of "Old Florida" Total Acres: 2,080 Total Units: 1,662 Total Sold or Under Contract: 104 Average 3Q04 Home Site: $ 975,000 Total Beachfront: 19,000 feet Infrastru
Slide 26: Port St. Joe Mill Site
Port St. Joe Mill Site
Slide 27: Port St. Joe Mill Site
Port St. Joe Mill Site JOE is a 50% owner in a joint venture exploring development options for the former Port St. Joe Paper mill site Preliminary planning calls for: 126 acres 600 units 325,000 square feet retail/office space Gulf County, Florida
Slide 28: St. James Island Vision
St. James Island Vision Gulf of Mexico
Slide 29: St. James Island Vision Plan
Franklin County Commission approved first step in Vision Plan Many regulatory steps remain. Future development will require additional entitlement steps St. James Island is bordered by state and National forests, parks, rivers and protected Gulf of Mexico waters St. James Island Franklin County, Flo
Slide 30: SummerCamp
SummenrCamiyp if you don't know JOE 2005 | St. Joe at
Slide 31: SummerCamp
A new beachfront vacation and second- home community, our first development on St. James Island, with nearly 4 miles of waterfront on former JOE Timberland Total Acres: 782 Total Units: 499 Sales Begin: 1st release oversubscribed 382 offers for only 40 home sites / 29 homes 2nd release oversubscribe
Slide 32: RiverTown
i OviVis T IMIVeT ‘j
Slide 33: RiverTown
RiverTown A vision for a new Southern town in one of Florida's fastest growing counties South of Jacksonville with more than 3.5 miles of frontage on the St. Johns River DRI Approved February 25, 2004 Total Acres: 4,170 Total Units: 4,500 Retail/Commercial: 300,000 sq. ft. Office/ Light Industrial:
Slide 34: Perico Island
wanes |sleinel if you don't know JOE. 2005 | St. Joe 25
Slide 35: Perico Island
Perico Island A high-quality, master-planned community for primarily seasonal second homes Located on the Northern peninsula of Perico Island 352 acres 686 proposed luxury condominiums 80% open space Pricing expected to start in the mid $500,000's to well over $1.25 million Manatee County, Florida
Slide 36: St. Joe Commercial
St. Joe Commercial Beckrich Nextel Home Depot SouthWood Pier Park Commerce Parks Beach Commerce Port St. Joe Commerce Publix Centers JOE's first generation commercial product is performing well
Slide 37: St. Joe Commercial: The Next Generation
St. Joe Commercial The Next Generation
Slide 38: Topsail
Topsail Gulf of Mexico CR 30A US 98 Site Sandestin
Slide 39: Topsail - South Walton County, FL
Topsail - South Walton County, FL Located minutes from Destin and resort communities Mixed-use project totaling approximately 75 acres Permitting underway Pricing for retail out parcels is expected to exceed $15 per foot ($650,000 per acre)
Slide 40: South Walton County Commerce Park
South Walton County Commerce Park Walton County's first large scale commerce park 39 acre project offering all underground utilities, curbs and restrictive covenants Sales began in 4Q04 Inland parcels closed between $161,000 and $302,000 per acre
Slide 41: Potential Multifamily Projects
Potential Multifamily Projects Topsail Sunnyside Parkside Beckrich WaterSound SouthWood Port St. Joe
Slide 42: Potential Multifamily Projects
Potential Multifamily Projects Topsail WaterSound Beckrich (under contract) Port St. Joe SouthWood (under contract) Parkside Sunnyside 4 parcels under contract as of 12/31/04 totaling 58 acres at approximately $108,000 per acre Alexan Gardens Bay County Trammell Crow Residential Opening late 2005
Slide 43: St. Joe Land Company Large Parcel Sales
St. Joe Land Company Large Parcel Sales RiverCamps on Crooked Creek JOE's first generation Land product is performing well
Slide 44: St. Joe Land Company: The Next Generation
St. Joe Land Company The Next Generation
Slide 45: Product Strata
Product Strata St. Joe Woodlands St. Joe Ranches St. Joe Farmsteads St. Joe Homesites RiverCamps Conservation
Slide 46: St. Joe Woodlands
St. Joe Woodlands Parcels designed for outdoor recreation Ranging from 1-acre up
Slide 47: St. Joe Ranches
St. Joe Ranches Distinct rural recreational retreats for the outdoor enthusiast 75 to 100 acre lots, within a 2,000 to 3,000 acre community Gated community environment providing an independent sense of place Pricing expected to range from $3,000 to $7,000 per acre Pictures do not represent actual St
Slide 48: St. Joe Farmsteads
St. Joe Farmsteads Rural primary home and recreational product intended for equestrian, small- scale farming and outdoor recreation 5 to 20 acre lots, within a 500 to 1,000 acre community Elegant rural communities for people desiring a nostalgic rural experience while maintaining proximity to suburb
Slide 49: Potential RiverCamps
Potential RiverCamps RiverCamps on Depot Creek RiverCamps on Back Bay RiverCamps on Sandy Creek RiverCamps on BearBluff RiverCamps on St. Marks North
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