Before the surge of new investment and high-profile developers in West Palm Beach, Jeff Greene had already begun acquiring property in the area. More than ten years ago, Greene saw potential in the city, noting its wealth and educational resources but lack of significant buildings and amenities. “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 that time, Greene had accumulated about 75 acres in West Palm Beach with plans for apartments, condominiums, a hotel, an office tower, retail space, and a school. Despite these ambitions, progress on his main project—One West Palm—has faced delays.
Earlier this month, the city commission formalized an agreement requiring Greene to finish One West Palm—a two-tower development rising 30 stories—by the end of 2027 or pay a $5 million penalty. Greene maintains construction is progressing quickly and aims to complete it 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 investments began during a period of personal change for him. In 2009 he purchased an oceanfront estate for $24 million; similar properties now sell for more than $100 million following pandemic-driven market shifts. Around this time he married Mei Sze Chan and started a family before making an unsuccessful run for U.S. Senate in 2010.
His public profile was heightened after earning $800 million by betting against the housing market before the financial crisis of 2008—a story featured by Forbes as “The Reluctant Billionaire.” His social connections were often noted by media outlets.
Despite losing his Senate bid, Greene continued buying real estate across Palm Beach County as markets recovered from recession lows. He completed several residential projects—including finishing an incomplete apartment complex purchased for $6.8 million—and acquired properties such as the former Palm Beach Post Office (later sold for $28 million) and what is now Tideline resort.
He also bought hundreds of condos throughout downtown West Palm Beach and paid $24 million for land at Lakeview Avenue that remains undeveloped except for seasonal markets.
Greene estimates his local holdings are worth billions today. “I did buy an enormous amount of land,” he said, explaining that gradual development prevents oversaturating the market. “If I built it all at once, it would flood the market.”
Recent attention has focused on his acquisitions in Currie Park Mixed Use District between 2012 and 2016—including paying $10 million for One West Palm’s site at North Quadrille Boulevard. Designed by Arquitectonica, One West Palm will feature office space, apartments, hotel rooms, and amenities such as pools and indoor tennis courts.
Construction began in 2019 with completion expected by 2022 but was delayed due to disputes with contractors and city officials; Greene dismissed Kast Construction from the project in 2024.
Unlike many developers who rely on outside financing, Greene funds projects himself: he stated he does not have external investors or lenders pressuring him over timelines.
While facing setbacks at One West Palm, Greene advanced another major development nearby—a two-tower condominium designed by Herzog & de Meuron announced in 2023 following zoning changes allowing taller buildings approved two years earlier.
However, those height allowances became contentious when Mayor Keith James indicated they might be rescinded during final approval stages; Greene responded with legal action against the city last October claiming undue delays. “If this mayor wants me to just be a land banker and not build anything, I won’t build anything,” he said then.
A compromise followed: Greene accepted potential penalties if One West Palm is not finished on schedule while securing approvals for taller condos along with commitments including land swaps and payments toward local infrastructure improvements.
Over ten years after launching his vision for West Palm Beach redevelopment—and despite only partial realization—Greene has completed projects like Brandon Estates apartments (198 units), industrial developments inland, and established The Greene School serving pre-K through grade twelve with strong demand.
Key tasks remain: obtaining final approvals for condos; completing One West Palm’s occupancy certification; working on affordable housing initiatives downtown; donating land to support Vanderbilt University’s proposed graduate campus; planning further waterfront development—all timed alongside broader growth around his sites.
“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, and you can be a genius and lose money in a bad cycle,” said Greene regarding project timing decisions. “We delayed [One West Palm] to get the perfect project, and just by luck everything around it has blossomed.”
