Friday, April 01, 2016
WHAT IS JEFF GREENE, BILLIONAIRE REAL ESTATE INVESTOR, DOING NOW?
No doubt you know that he has purchased many West Palm Beach properties for about $300MM, plans to build many new condo developments, and is West Palm Beach’s biggest booster for additional condo units at all prices and sizes. One or another will appeal to you! Thinking of movin on up? Be a little patient!
He recently said, speaking at the Urban Land Institute in West Palm Beach, that his priority is One West Palm at 550 North Quadrille Boulevard. Arquitectonica of Miami has designed the $250MM project which will take an entire block. Two 30-floor towers are planned which resemble stacked blocks, an interesting new and contemporary look for West Palm Beach. We are moving right along into the 21st century.
Get your buys and reservations in line soon and watch for when you can do that! You will enjoy the forthcoming shops, restaurants, corner parks, a daycare center and fitness center with indoor and outdoor tennis courts on the ground floor. One tower will include 340,000 sq ft of Class A office space and the other will house a five-star hotel with 209 guest suites and 84 luxury condo or rental units above that. Ground breaking is hoped for in the summer or fall. His own equity and a bank loan will finance this deal. Jeff says, “I am lucky that I do not have to pre-lease.
In the historic Northwood area, north of downtown, he owns 5 acres that will become a grocery store center. Major suspect is Publix. His plan is to have the grocery store lead to the integration of the neighborhood. Possible: an independent/assisted living facility; a fantastic gym.
He is putting up five high-end condo buildings at once and has submitted a plan for a 12-story 400-unit micro-apartment building at 550 Banyan Boulevard to city officials. Jeff says, “West Palm Beach’s economy is driven by tourism and retirees.” The Norton Museum of Art renovation and construction of a new spring training baseball Astros and Nationals stadium will, “Make the city better and more people will come.”