Developer Jeff Greene will pay the city of West Palm Beach $5 million in “liquidated damages” if he doesn’t complete his downtown building by the end of 2027, according to a proposed agreement between himself and the city.
City administration is asking city commissioners to approve the deal, which would put a deadline on Greene to finish the city’s tallest building, located at 550 Quadrille Blvd.
The project, called One West Palm, was supposed to be completed in 2021 after the April 2019 groundbreaking, but the development, including office space, hotel and luxury residential units, is still not finished…