OK I have been in the real estate business since 1995 and since 2001 in South Florida. In all that time I have never seen one person or company effectively buy a portion of a city the way that Jeff Greene has in the Northwood section of West Palm Beach. So what is going on? One could say that this is a huge gamble, buying land in an area that has struggled in every way for years. Redevelopment plans have come and gone, all of them unsuccessfully. But none had the vision, scope and or money that Jeff Greene has. With one person buying all this area he will be able to fix the tangled streetscape and make it work. He will be able to take advantage of underutilized waterfront, on which he will build residential, office and retail space. And it will be less expensive than what can be had in the surrounding areas so it will be attractive to homebuyers and businesses. Yes if the economy holds up Jeff Greene is going to make out like a bandit here. While it is a story of the rich getting richer, you have to give him credit for his vision and risk taking. And really the city will be a big winner as well, finally getting a tough area turned around and making it into something everyone can be proud of. I think Jeff Greene is the best thing to ever happen to West Palm and I can’t wait to see how this all turns out. Don’t bet against him, this is going to finally happen. As always thanks for reading and have a great day.
Jeff Greene spends $31 million to buy prime WPB land
No comments:
Post a Comment