“In Their Own Words”

Saussy Burbank has been building and designing homes since 1988. But we're not your typical builder. Each home we craft is a mixture of contemporary and nostalgic architecture. A mix of timeless style and intricate details that make our homes unique and magical. From the materials we use to the neighborhoods we choose, each Saussy Burbank home has a charm all its own. And with financing plans and an assortment of personal design options, owning a Saussy Burbank home isn't just easy, it's also fun.

Saussy Burbank is a Charlotte, North Carolina-based homebuilder, nationally recognized for building homes with distinctive architectural details and innovative floor plans. The award-winning company traces its roots back to Burbank Associates, Inc., founded in 1988 by Jim Burbank, and merged with Saussy Construction Company in 1991. Saussy Burbank was subsequently acquired by The St. Joe Company in 1999. During its 17 years in business, the company has built more than 2,500 homes in Charlotte, Raleigh, Durham, Chapel Hill, North Carolina, and Charleston, South Carolina.

Saussy Burbank has been recognized regionally and nationally as a leader in the industry, having developed a number of innovative home design collections and captivating neighborhoods. The company's unique approach to design has allowed us to take advantage of both in-fill and suburban neighborhood construction opportunities and has enabled us to create special communities for university-sponsored neighborhoods at Davidson College (McConnell) and Duke University (Trinity Heights). Saussy Burbank has also worked with Bank of America on two of Charlotte's Uptown First Ward neighborhoods (Parkside and Garden District).

Saussy Burbank homes and neighborhoods are designed to have enduring style and character. A core principle of the company's management team has been to keep its designs distinctive, yet affordable. Saussy Burbank's ability to create unique designs and deliver at price points from the low $100's to the $600's has created a successful formula for the company. The Saussy Burbank brand is recognized among Realtors and homeowners who appreciate the company's popular designs and the character of its neighborhoods, as well as its strong commitment to quality construction and customer service.

History
The first Burbank & Associates community was Selwyn Farms, an infill community of 104 homesites in south Charlotte. Burbank left the John Crosland Company after its acquisition by Centex and was in search of a unique land position to launch the company's first homes. Burbank and construction vice president Dwight Marshall introduced a series of three- and four-bedroom homes with traditional trim and cornice details. This came at a time when most other builders were pursuing the trends of "transitional and contemporary" designs with elaborate gables. Burbank and his team focused on traditional home styles that blended well with the Selwyn Farms setting, were architecturally distinctive, yet could be delivered at relatively affordable prices.

Burbank merged with Saussy Construction, a respected custom building and renovation firm, in 1991 as it began construction of its first suburban community in south Charlotte, Beverly Crest. Principal Downie Saussy expanded the firm's expertise in working with the Realtor community and sales and construction programs tailored to "move up" market segments. At Beverly Crest, Saussy Burbank worked closely with land developer Standard Properties to blend a variety of price points and architectural styles into a setting that was formerly a farm and popular hunting site. Beverly Crest incorporated distinctive landscape and building architecture with sidewalks on both sides of the street to knit the community together. It was in Beverly Crest that Saussy Burbank introduced its popular Arts and Crafts-inspired Dilworth Collection homes, years ahead of most of its competitors in the building community.

Another notable Saussy Burbank community was Ballantyne Meadows in south Charlotte, a thriving community off Ballantyne Commons Road, in the heart of Ballantyne. Dilworth Bungalows, a smaller version of the Dilworth Collection, were introduced there. Twenty-two homes were sold in 21 days, with a waiting list of 60 names for the remaining 31 homes in Phase Two. In 1999, Saussy Burbank received national acclaim when one of its bungalow designs was named the best single-family home under 1,500 square feet in the Best in America Living Award competition (BALA), which drew 429 entries. BALA, the nation's foremost residential design competition, is co-sponsored by the National Association of Home Builders and Professional Builder magazine. "We were honored to receive the Gold Award. It underscored our commitment to creating affordable homes that support our founding principles of design and quality," said Burbank.

McNeill Burbank Builder Story
Located in Cary, NC, McNeill Burbank Homes, LLC has become one of the best known homebuilders in the Triangle area. Founded in 1992 by Al McNeill and Jim Burbank, McNeill Burbank is a subsidiary of the Charlotte-based homebuilder, Saussy Burbank.

McNeill Burbank homes can be found in some of the most desirable communities in the Triangle, such as the award-winning Southern Village in Chapel Hill, Falls River in Raleigh, Sunset Ridge in Holly Springs, and Heritage in Wake Forest. In 2000, Duke University chose McNeill Burbank as the sole builder for Trinity, a community designed specifically for Duke faculty and staff. Trinity received the 2000 George and Mary Pyne Historic Preservation Award, given by the Historic Preservation Society of Durham for the outstanding merit of this project.

Both McNeill Burbank and Saussy Burbank have consistently ranked extraordinarily high in customer satisfaction. They attribute much of this success to their commitment to a guiding principle: That each home should be unique and offer the same quality of design and craftsmanship, regardless of size or price point.

College Neighborhoods, Expansion and Infill
The Davidson College Development Corporation selected Saussy Burbank as the sole builder for home construction in McConnell, a traditional neighborhood created for Davidson College faculty and staff as well as the public. McConnell combined homes of various sizes and price points arranged around a central green. Saussy Burbank's design emphasis, vast portfolio of elevations and floor plans, and flexibility made it a natural fit for this neighborhood of 198 homes built over an eight year period from 1993 to 2000.

In 1998, Bank of America Community Development Corporation engaged Saussy Burbank to build 16 homes in Parkside, an infill community located in Charlotte's redeveloping First Ward community, blocks from Uptown. These 16 homes sold quickly and led to the addition of the Garden District's 37 single-family and three duplex homes, offered in late 2000. The Garden District homes sold within 16 months at prices ranging from the upper $200's to low $400's, price points that many would have thought unattainable in the Uptown area.

Saussy Burbank has built homes in the Triangle's Raleigh - Durham market since the early 90's through a subsidiary, McNeill Burbank homes. McNeill Burbank has built the same designs patterned in Charlotte including planned communities in Cary, Apex, Holly Springs, Wake Forest, Durham and Chapel Hill. McNeill Burbank's most intriguing work may be found in the bungalow homes built in Trinity Heights in Durham, homes built primarily for Duke University faculty and staff adjacent to the East Campus.

Saussy Burbank also constructed homes in Asheville's Biltmore Park from 1996 - 1999. In 2000, the firm expanded into the Charleston, South Carolina market with new offerings in the Legend Oaks and White Gables communities in the Summerville sub-market.

St. Joe
The St. Joe Company acquired Saussy Burbank in March of 1999. Based in Jacksonville, Florida, St. Joe has been a developer of world-class resorts, award winning residential communities and prestigious commercial and business centers for more than 40 years. Desiring to expand its expertise in innovative, quality homebuilding, St. Joe saw Saussy Burbank as the perfect addition to its team.

About St. Joe
The St. Joe Company (NYSE: JOE), a publicly held company based in Jacksonville, Florida, is one of Florida's largest real estate operating companies. It is engaged in town, resort, commercial and industrial development, land sales, and commercial real estate services. The company also has significant interests in timber. More information about JOE can be found at its website at www.joe.com.