I heard the same thing from a business owner in the area. I was told that St. Joe expressed an interest in the property in December. St. Joe probably figured that if we had to vote on the lesser of the two evils, we would vote for the proposed St. Joe project. I was told it was going to be another hotel or Inn.
I just saw a commercial for Chateau 30A condos on cable. This could very well be a red herring.
Or they hope to pre-sell enough condos so they those develop those instead of a hotel and make more money.
BTW the commercial showed "beach access" as the dirt roads through Seagrove Eastern Lake neighborhood. It highlighted Williams and Dalton streets I think. There is no access at the end of those streets.