SANTA ROSA BEACH — Two Florida-based developers have announced plans for a new senior living facility.

The St. Joe Co. and Watercrest Senior Living Group said in a press release Tuesday that they hope to open a 107-unit complex off West Hewett Road near U.S. Highway 98 and the west end of County Road 30A on St. Joe Island. It will have 75 units dedicated to assisted living and 32 units of memory care.

While St. Joe will likely be the majority owner in the project, Watercrest will manage operations, the press release said.

Construction of the new Watercrest community is expected to begin in 2019, with an anticipated opening by the end of 2020. 

“We are honored to partner with The St. Joe Company to bring a luxury Watercrest senior living community to the Florida Panhandle,” said Marc Vorkapich, principal and chief executive officer of Watercrest. “We are excited to bring our company’s luxury aesthetic, world-class care and innovative programming to the region.”

Watercrest Senior Living Group, based in Vero Beach, specializes in the development and operations of assisted living and memory care communities.

The St. Joe Co. is a real estate development firm. It owns acreage concentrated in Northwest Florida and has various commercial, resort and club properties.

The senior living facility will be the first owned by Watercrest in Northwest Florida.