The Real Deal Miami

Jeff Greene criticizes Royal Poinciana vote

Billionaire says voter defeat of zoning ordinance is "bizarre"
Jeff Greene

Jeff Greene

Billionaire developer Jeff Greene weighed in on the controversial zoning plan for Royal Poinciana Way in the Town of Palm Beach, where he is amassing a large real estate portfolio.

Greene told the Palm Beach Daily News he was flummoxed by the outcome of last month’s referendum on a proposed zoning ordinance called PUD-5. Voters defeated the ordinance, which would have allowed more redevelopment on Royal Poinciana Way.

“It’s so bizarre,” Greene said. “I think the people who were against it thought it would [allow] some sort of high-rise there.”

Greene acquired more than $225 million in South Florida real estate over the last few years, including at least $83 million in Palm Beach. He spent time in the town as a child, as his family had a small apartment near Royal Poinciana Way.

The former U.S. Senate candidate did find a silver lining in the referendum’s result: now property owners on Royal Poinciana Way can move forward knowing the street’s zoning did not change. [Palm Beach Daily News]Eric Kalis