ORLANDO-St. Joe Co., the largest commercial developer in Florida, has broken ground on the WaterColor Inn, a 60-room beachfront resort off the Gulf of Mexico in south Walton County, 275 miles northwest of Downtown Orlando. The estimated hard construction cost is $20 million.

Locally-based Arvida Realty Commercial Services, the community development arm of St. Joe, is developing the venture on a 2.5-acre beachfront pad. David Rockwell of the Rockwell Group in New York designed the northwest Florida resort scheduled to open in early 2002.

St. Joe Hospitality Development Group will operate and manage the inn, which will offer a 150-seat restaurant meeting rooms, indoor spa and pool. A Fazio-designed Camp Creek Golf Club is part of the 499-acre community being developed by St. Joe.

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