Before the recent influx of high-profile real estate activity in West Palm Beach, investor Jeff Greene had already begun assembling a significant portfolio in the city. More than ten years ago, Greene recognized potential in West Palm Beach, noting its concentration of wealth but lack of standout developments. “Sitting in my private plane at the airport, it struck me that there were 300 to 400 other private jets there,” he told The Real Deal in a 2016 interview. “How can a city with this much wealth and education have so few amazing buildings, restaurants and hotels?”
By then, Greene had acquired 75 acres across West Palm Beach and was planning a mix of apartments, condominiums, hotel space, offices, retail locations and even a school. Despite these ambitions, progress has been slow on his flagship project: One West Palm.
Earlier this month, the city commission formalized an agreement requiring Greene to complete One West Palm—a two-tower development rising 30 stories—by the end of 2027 or face a $5 million penalty. However, Greene maintains that construction is advancing quickly and expects completion within this year. “We’re building stuff all the time,” he said. “Everyone focuses on the one building that seems to be taking a very long time.”
Greene’s investment strategy took shape during significant changes in his personal life. After purchasing an oceanfront estate for $24 million in 2009 (a property type now trading above $100 million), he settled into family life and made an unsuccessful run for U.S. Senate in 2010.
Known nationally for profiting from betting against the housing market before the 2008 financial crisis—a move that reportedly netted him $800 million—Greene’s profile was further elevated by media coverage highlighting both his business acumen and colorful social life.
Following his political campaign loss, Greene focused on expanding his real estate holdings throughout Palm Beach County as South Florida recovered from economic downturns. His acquisitions included completing an unfinished apartment complex purchased for $6.8 million; buying and later selling the former Palm Beach Post Office; acquiring an oceanfront resort; and purchasing hundreds of condominium units across several downtown buildings.
He estimates that his current property holdings are valued at billions of dollars. “I did buy an enormous amount of land,” he said, explaining his measured approach to development: “If I built it all at once, it would flood the market.”
Among Greene’s most notable properties is a collection spanning 26 acres within West Palm’s Currie Park Mixed Use District—including One West Palm’s site at 550 North Quadrille Boulevard—which he bought for $10 million between 2012 and 2016.
Designed by Arquitectonica, One West Palm is planned to include office space totaling 200,000 square feet alongside residential apartments (186 units), hotel rooms (200), fitness amenities such as clubs and pools, as well as indoor tennis courts.
Construction began in 2019 with original expectations for completion by 2022 but encountered setbacks due to disputes with contractors and local authorities—leading Greene to dismiss Kast Construction from the project in 2024.
Unlike many developers who rely on outside financing and face pressure from investors or lenders when projects stall, Greene funds his ventures himself: “have anyone to answer to,” he said.
While delays affected One West Palm’s timeline, Greene continued work on another two-tower development nearby designed by Herzog & de Meuron—a Swiss architecture firm—at sites on North Flagler Drive. This project leverages zoning changes approved in 2021 allowing greater building heights within Currie Park Mixed Use District.
Tensions emerged last fall when Mayor Keith James indicated plans to revoke these height allowances during final approval stages for Greene’s condos; this prompted legal action from Greene alleging improper delays by city officials. “If this mayor wants me to just be a land banker and not build anything, I won’t build anything,” he stated at that time.
A compromise was reached: Greene agreed to pay up to $5 million if One West Palm is not completed as scheduled while securing necessary approvals for increased building heights at his other development sites. He also committed land swaps and payments totaling $6 million toward infrastructure improvements connecting Northwood Road with Currie Park.
Although not all aspects of his vision have materialized after more than ten years—including pending final approvals for new condos—Greene has completed several projects such as Brandon Estates apartments (198 units) finished last year; industrial developments inland; opening The Greene School serving pre-K through grade twelve since its launch in 2016; ongoing Live Local initiatives downtown; contributions toward Vanderbilt University’s proposed graduate campus; and plans for additional waterfront sites along Flagler Drive.
Reflecting on timing within real estate cycles amid surrounding growth by other developers near his properties, Greene commented: “There’s a lot of luck in real estate development. I’m not stupid—I know you can be an idiot and make money in a great cycle… We delayed [One West Palm] to get the perfect project—and just by luck everything around it has blossomed.”
