EXHIBIT 5.1


                      [Greenberg Traurig, P.A. Letterhead]

                                  July 9, 2003


Equity One, Inc.
1696 N.E. Miami Gardens Drive
North Miami Beach, Florida 33179

     Re:  Equity One, Inc. Registration Statement on Form S-3
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Ladies and Gentlemen:

     We have acted as counsel for Equity One, Inc., a Maryland corporation (the
"Company"), and certain of its subsidiaries (the "Guarantors") in connection
with the registration statement on Form S-3 (the "Registration Statement") being
filed by the Company and the Guarantors with the Securities and Exchange
Commission (the "Commission") under the Securities Act of 1933, as amended (the
"Act"), relating to (i) shares of common stock of the Company, par value $0.01
per share (the "Common Stock"); (ii) one or more classes or series of shares of
preferred stock of the Company, par value $0.01 per share (the "Preferred
Stock"); (iii) shares of Preferred Stock represented by depositary shares (the
"Depositary Shares"); (iv) one or more series of debt securities (collectively,
the "Debt Securities"); (v) guarantees by certain of the Company's subsidiaries
of the Debt Securities (the "Guarantees"); (vi) warrants to purchase Common
Stock, Preferred Stock, Depositary Shares, Debt Securities and Guarantees or any
combination of those securities (the "Warrants"); and (vii) the Common Stock,
Preferred Stock or Debt Securities and Guarantees that may be issued upon the
exercise of the Warrants, whichever is applicable. The Common Stock, the
Preferred Stock, the Debt Securities and Guarantees and the Warrants are
hereinafter referred to collectively as the "Securities." The Securities may be
issued and sold or delivered from time to time as set forth in the Registration
Statement, any amendment thereto, the prospectus contained therein (the
"Prospectus") and supplements to the prospectus ( the "Prospectus Supplements")
and pursuant to Rule 415 under the Act for an aggregate initial offering price
not to exceed $750,000,000.

     The Depositary Shares will be issued under one or more Deposit Agreements
(each, a "Deposit Agreement"), each to be between the Company and a financial
institution identified therein as the depositary (each, a "Depositary").

     The Debt Securities will be issued pursuant to the Indenture, dated as of
September 9, 1998 (the "Base Indenture"), as supplemented by three Supplemental
Indentures thereto (and as further amended and supplemented from time to time,
the "Indenture") between the Company, the Guarantors named therein and SunTrust
Bank, as trustee (the "Trustee").


Equity One, Inc.
July 9, 2003
Page 2

     The Warrants will be issued under one or more Warrant Agreements (each, a
"Warrant Agreement"), each to be between the Company and a counterparty or
counterparties identified therein (each, a "Counterparty").

     In connection with our representation of the Company, and as a basis for
the opinion hereinafter set forth, we have examined originals, or copies
certified or otherwise identified to our satisfaction, of the following:

     1. the Registration Statement;

     2. the Charter of the Company, as amended and restated and to the date
hereof (the "Charter");

     3. the Bylaws of the Company, as amended and restated to the date hereof
(the "Bylaws");

     4. resolutions adopted by the Board of Directors of the Company, relating
to the approval of the filing of the Registration Statement, together with the
exhibits thereto, and other related matters (the "Resolutions"); and

     5. Such other documents and matters of law as we have deemed necessary or
appropriate to express the opinion set forth below, subject to the assumptions,
limitations and qualifications stated herein.

     In rendering the opinions set forth below, we have assumed genuineness of
all signatures, the legal capacity of natural persons, the authenticity of all
documents submitted to us as originals, the conformity to original documents of
all documents submitted to us as duplicates or certified or conformed copies and
the authenticity of originals or such latter documents. We have also assumed
that (a) at the time of execution, countersignature, issuance and delivery of
Depositary Shares, the Deposit Agreement will be the valid and legally binding
obligation of the Depositary; (b) at the time of execution, authentication,
issuance and delivery of Debt Securities, the Indenture will be the valid and
legally binding obligation of the Trustee; (c) at the time of execution,
countersignature, issuance and delivery of any Warrants, the Warrant Agreement
will be the valid and legally binding obligation of each Counterparty thereto.

     As to various questions of fact material to this opinion, we have relied,
to the extent we deemed reasonably appropriate, upon representations or
certificates of officers or directors of the Company, without independently
verifying the accuracy of such documents, records and instruments.

     In connection with the issuance of Depositary Shares, we have assumed
further that (i) at the time of execution, countersignature, issuance and
delivery of any Depositary Shares, the related Deposit Agreement will have been
duly authorized, executed and delivered by the



Equity One, Inc.
July 9, 2003
Page 3

Company and (ii) execution, delivery and performance by the Company of such
Deposit Agreement and such Depositary Shares will not violate the laws of any
jurisdiction (provided that as to the laws of the State of Florida, the Maryland
General Corporation Law and the federal laws of the United States we make no
such assumption).

     In connection with the issuance of Debt Securities and Guarantees, we have
assumed further that (i) at the time of execution, authentication, issuance and
delivery of the Debt Securities, the Guarantees and any further supplemental
indentures to the Indenture, that such supplemental indenture will have been
duly authorized, executed and delivered by the Company and (ii) execution,
delivery and performance by the Company of the Indenture, the Debt Securities
and the Guarantees will not violate the laws of any jurisdiction (provided that
as to the laws of the State of Florida, the Maryland General Corporation Law and
the federal laws of the United States we make no such assumption).

     In connection with the issuance of Warrants, we have assumed further that
(i) at the time of execution, countersignature, issuance and delivery of any
Warrants, the related Warrant Agreement will have been duly authorized, executed
and delivered by the Company and (ii) execution, delivery and performance by the
Company of such Warrant Agreement and such Warrants will not violate the laws of
any jurisdiction (provided that as to the laws of the State of Florida, the
Maryland General Corporation Law and the federal laws of the United States we
make no such assumption).

     Based upon the foregoing, and subject to the assumptions, limitations and
qualifications stated herein, it is our opinion that:

     1. With respect to the Common Stock, assuming (i) the taking by the Board
of Directors of the Company of all necessary corporate action to authorize and
approve the issuance of the Common Stock and (ii) due issuance and delivery of
the Common Stock, upon payment therefor in accordance with the applicable
definitive underwriting agreement, if applicable, or Prospectus or Prospectus
Supplement approved by the Board of Directors of the Company, the Common Stock
will be validly issued, fully paid and nonassessable.

     2. With respect to the Preferred Stock, assuming (i) the taking by the
Board of Directors of the Company of all necessary corporate action to authorize
and approve the issuance of the Preferred Stock, (ii) due filing of the Articles
Supplementary with the Maryland State Department of Assessments and Taxation and
(ii) due issuance and delivery of the Preferred Stock, upon payment therefor in
accordance with the applicable definitive underwriting agreement, if applicable,
or Prospectus or Prospectus Supplement approved by the Board of Directors of the
Company, the Preferred Stock will be validly issued, fully paid and
nonassessable.

     3. With respect to the Depositary Shares, assuming (i) the taking of all
necessary corporate action to approve the issuance of such Depositary Shares,
the final terms



Equity One, Inc.
July 9, 2003
Page 4

establishing the depositary receipts representing the Depositary Shares (the
"Depositary Receipts") in the form contemplated and authorized by a Deposit
Agreement and related matters by the Board of Directors of the Company, (ii) the
due execution, authentication, issuance and delivery of such Depositary Shares,
upon payment of the consideration therefor provided for in the applicable
purchase, underwriting or similar agreement, as applicable, or Prospectus or
Prospectus Supplement approved by the Board of Directors of the Company and
otherwise in accordance with the provisions of the applicable Deposit Agreement
and such agreement, the Depositary Shares will be validly issued and will
entitle the holders thereof to the rights specified in the Depositary Receipts
and such Deposit Agreement for such Depositary Receipts.

     4. With respect to the Debt Securities and the Guarantees, assuming (i) the
taking of all necessary corporate action to approve the issuance and terms of
the Debt Securities and the Guarantees, the terms of the offering thereof and
related matters by the Board of Directors of the Company and the board of
directors or other equivalent managing body of the applicable Guarantors and
(ii) the due execution, authentication, issuance and delivery of such Debt
Securities and the Guarantees, upon payment of the consideration therefor
provided for in the applicable definitive purchase, underwriting or similar
agreement, as applicable, or Prospectus or Prospectus Supplement approved by the
Board of Directors of the Company and the Guarantors otherwise in accordance
with the provisions of the applicable Indenture and such agreement, such Debt
Securities and Guarantees will constitute valid and legally binding obligations
of the Company or the respective Guarantors, as the case may be, enforceable
against the Company or the respective Guarantors, as the case may be, in
accordance with their respective terms.

     5. With respect to the Warrants, assuming (i) the taking of all necessary
corporate action by the Board of Directors of the Company to approve the
execution and delivery of a Warrant Agreement and (ii) the due execution,
countersignature, issuance and delivery of such Warrants, upon payment of the
consideration therefor provided for in the applicable definitive purchase,
underwriting or similar agreement, as applicable, or Prospectus or Prospectus
Supplement approved by the Board of Directors of the Company and otherwise in
accordance with the provisions of the applicable Warrant Agreement and such
agreement, such Warrants will constitute valid and legally binding obligations
of the Company enforceable against the Company in accordance with their terms.

     The opinions set forth in paragraphs 3 through 5 above are subject to (i)
the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium or other similar laws now or hereafter in effect relating to or
affecting creditors' rights generally, (ii) the effects of general equitable
principles, whether enforcement is considered in a proceeding in equity or law,
(iii) an implied covenant of good faith and fair dealing, (iv) the discretion of
the court before which any proceeding for enforcement may be brought and (v) the
unenforceability under certain circumstances under law or court decisions of
provisions providing for the indemnification of or contribution to a party with
respect to a liability where such indemnification or contribution is contrary to
the public policy.



Equity One, Inc.
July 9, 2003
Page 5

     We assume no obligation to supplement this opinion if any applicable law
changes after the date hereof or if we become aware of any fact that might
change the opinion expressed herein after the date hereof.

     This opinion is being furnished to the Company solely for submission to the
Commission as an exhibit to the Registration Statement and, accordingly, may not
be relied upon by, quoted in any manner to, or delivered to any other person or
entity without, in each instance, our prior written consent.

     We do not express any opinion herein concerning any law other than the laws
of the State of Florida, the federal laws of the United States and, to the
extent set forth herein, the Maryland General Corporation Law.

     We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the use of the name of our firm therein. In giving
this consent, we do not admit that we are within the category of persons whose
consent is required by Section 7 of the Act.

                                                Very truly yours,

                                                /s/ Greenberg Traurig, P.A.

                                                Greenberg Traurig, P.A.