PANAMA CITY — Unlike the other developers, HomeFed/Leucadia is a publicly traded company on the New York Stock Exchange. The motivation behind its marina proposal is to protect its investment, which includes the entire city.
HomeFed already has invested $65 million to buy the 700-acre SweetBay development site from the airport board. The plan for SweetBay calls for 3,200 homes and 700,000 square feet of commercial space.
HomeFed is invested in restoring Panama City as the economic hub of Bay County, the marina being a key component, and then connecting the four corners of the city — Panama City Marina, St. Andrews Marina, Carl Grey Park and SweetBay Marina, the last of which has yet to built.