Plaza Allegre will feature a 44,000-sf Publix supermarket, a14,000-sf junior anchor, 16,000 sf of local retail space, 10,000 sfof office space and two out parcels. Construction is expected tobegin in first quarter 2002 with a target completion date ofFebruary 2003. The development is expected to cost a total of $10million (including $1.8 million to purchase the site pursuant to anexisting option agreement), or $119 per sf.

Equity One also owns a four-acre parcel at the northeast cornerof SW 147th Avenue and Coral Way across the street from PlazaAllegre, where it expects to start building a 25,000-sf drug-storeanchored shopping center in third quarter 2002 with. That projectcarries a mid-2003 completion.

Equity One Inc. is a self-administered, self-managed REIT thatprincipally acquires, renovates, develops and manages community andneighborhood shopping centers anchored by national and regionalsupermarket chains. The company's portfolio currently consists of85 properties primarily located in metropolitan areas of Floridaand Texas.