Francis J. Greenburger
CEO, Time Equities Inc.
My name is Francis Greenburger, and I am the Founder and Chairman of Time Equities, Inc., a family-owned real estate investment company based in New York City. Time Equities is involved with all property types, from high-end residential condominium developments and multi-family assets to industrial facilities and office buildings and retail centers.
I am writing today to discuss one of our properties in particular, the Prospect Place Office Building, located at 3111 South Dixie Highway, just south of Belvedere Road. In short, the property today is out-of-sync with the market for office tenants. It is also out-of-sync with the more recent community efforts to activate the Dixie Highway corridor.
As such, we have developed a new plan that would replace the existing Prospect Place with an exciting mix of retail, residential and open park spaces. We are happy to share this vision with you, the community. Our hope is to gain your support for this progressive vision. In the spirit of full transparency, have created this website that clearly shows the redevelopment design concept.
After numerous iterations and studies, we have arrived at a design that we feel has the power to be transformative: for the Dixie corridor, for the surrounding neighborhoods, and for West Palm Beach.
The plan provides for 18,500 SF of boutique retail stores and restaurants along the property’s Dixie frontage, along with five residential condominium buildings set back to the west along the railroad tracks. Each residential building is 14 stories and has 60 condominiums, with a total of 300 new residences. In between the retail and residential components will be an almost acre of lushly landscaped park space, which will be open to the public.
In closing, I want to thank you for reading this letter and for taking the time to learn about our proposed project. We welcome any feedback that you might have. We want to work together with the community to realize this exciting vision.
CEO & Chairman, Time Equities, Inc.