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<TITLE>Equity One, Inc.</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>As
filed with the Securities and Exchange Commission on May&nbsp;7, 2008</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 6pt"><B>Registration No.&nbsp;333-</B>
</DIV>


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 6pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, DC 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 8pt"><B>FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="center">
<DIV style="font-size: 3pt; margin-top: 8pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>



<DIV align="center" style="font-size: 24pt; margin-top: 8pt"><B>EQUITY ONE, INC.</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 1pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>



<DIV align="center">
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    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
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    <TD align="center" valign="top"><B>Maryland</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>52-1794271</B></TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of incorporation or <BR>
organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification Number)</TD>
</TR>
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</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>1600 N.E. Miami Gardens Drive<BR>
North Miami Beach, Florida 33179</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 1pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Address of Principal Executive Offices<B>)</B></DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>Equity One, Inc. Amended and Restated 2000 Executive Incentive Compensation Plan<BR>
First Amended and Restated Employment Agreement, dated as of August&nbsp;28, 2006,<BR>
between Equity One, Inc. and Jeffrey S. Olson (the &#147;Employment Agreement&#148;)</B><BR>
(Full title of the Plans)
</DIV>



<DIV align="center">
<DIV style="font-size: 3pt; margin-top: 8pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>




<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>Arthur L. Gallagher, Esq.<BR>
General Counsel<BR>
Equity One, Inc.<BR>
1600 N.E. Miami Gardens Drive<BR>
North Miami Beach, Florida 33179</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 1pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">(Name and address of agent for service)</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>(305)&nbsp;947-1664</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 1pt; width: 40%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

<DIV align="center" style="font-size: 10pt">Telephone number, including area code, of agent for service</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>Copies to:</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>Ira N. Rosner, Esq.<BR>
Barbara J. Oikle, Esq.<BR>
Greenberg Traurig, P.A.<BR>
1221 Brickell Avenue<BR>
Miami, Florida 33131<BR>
(305)&nbsp;579-0500</B>
</DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 8pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>


<DIV align="left" style="font-size: 10pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of
&#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2
of the Exchange Act. (Check one):</DIV>



<DIV align="center" style="font-size: 3pt">&nbsp;
</DIV>


<DIV align="center">
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    <TD width="3%"></TD>
    <TD width="15%"></TD>
    <TD width="3%"></TD>
    <TD width="36%"></TD>
    <TD width="3%"></TD>
    <TD width="23%"></TD>
</TR>
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<TR valign="bottom">
    <TD align="left" valign="top" nowrap>Large accelerated filer&nbsp;<FONT face="Wingdings">&#120;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Accelerated filer&nbsp;<FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Non-accelerated filer&nbsp;<FONT face="Wingdings">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Smaller reporting company&nbsp;<FONT face="Wingdings">&#111;</FONT></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;
</TD>

    <TD nowrap colspan="3" align="center" valign="top">(Do not check if a smaller reporting company)</TD>

    <TD align="right" valign="top">&nbsp;</TD>
</TR>


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</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 8pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="19%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="21" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>maximum aggregate</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>to be registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registered (1)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>per share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

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    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, $0.01
par value, to be
issued pursuant to
the Equity One,
Inc. Amended and
Restated 2000
Executive Incentive
Compensation Plan.
</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">3,000,000 shares
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">24.43</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">(2)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">73,290,000.00</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">(2)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">2,880.30</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, $0.01
par value, to be
issued pursuant to
options granted as
an employment
inducement award
under the
Employment
Agreement.
</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">364,660 shares
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">24.70</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">(3)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">9,007,102.00</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">(3)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">353.98</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, $0.01
par value, of
restricted shares
issued as an
employment
inducement award
under the
Employment
Agreement.
</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">97,166 shares
</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">24.43</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">(2)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">2,373,765.38</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">(2)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">93.29</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="21" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 6pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416 of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), this
registration statement shall also cover any additional shares of common stock, $0.01 par
value, of Equity One, Inc. (the &#147;Common Stock&#148;) which may be offered or become issuable by
reason of any stock dividend, stock split, recapitalization or other similar transaction
effected without the receipt of consideration which results in an increase in the number of
our outstanding shares of Common Stock.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the registration fee in accordance with Rules
457(c) and 457(h) of the Securities Act on the basis of the average of the high and low price
of a share of Common Stock as reported by the New York Stock Exchange on May&nbsp;1, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the registration fee in accordance with Rule
457(h) of the Securities Act on the basis of the option exercise price which pursuant to the
Employment Agreement is $24.70 per share.</TD>
</TR>

</TABLE>



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>






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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPLANATORY NOTE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement on Form S-8 is being filed by Equity One, Inc., a Maryland
corporation (the &#147;Company&#148;), for the purpose of registering a total of (i)&nbsp;364,660 shares of its
common stock, $0.01 par value (&#147;Common Stock&#148;) for future issuance upon exercise of stock options
and 97,166 shares of restricted stock (the &#147;Restricted Stock&#148;) for resale, which shares of
restricted stock and options were granted as an employment inducement in accordance with NYSE
Standards pursuant to the First Amended and Restated Employment Agreement, dated August&nbsp;28, 2006,
by and between the Company and Jeffrey S. Olson, and (ii)&nbsp;a total of 3,000,000 additional shares of
our Common Stock, issuable pursuant to the Equity One, Inc. Amended and Restated 2000 Executive
Incentive Compensation Plan for which previously filed Registration Statements on Form S-8 (File
No.&nbsp;333-99577 and File No.&nbsp;333-118347) are effective (the &#147;Prior Registration Statements&#148;).
Pursuant to Instruction E of Form S-8, the contents of the Prior Registration Statements, as filed
with the Securities and Exchange Commission on September&nbsp;13, 2002 and August&nbsp;18, 2004,
respectively, are incorporated herein by reference.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement also includes a reoffer prospectus. The reoffer prospectus may be
utilized for reoffering and resales on a continuous or a delayed basis in the future of up to
97,166 shares of the Restricted Stock that constitute &#147;control securities&#148; and/or &#147;restricted
securities.&#148; The reoffer prospectus does not contain all of the information included in the
registration statement, certain items of which are contained in schedules and exhibits to the
registration statement as permitted by the rules and regulations of the Securities and Exchange
Commission (the &#147;SEC&#148;). Statements contained in this reoffer prospectus as to the contents of any
agreement, instrument or other document referred to are not necessarily complete. With respect to
each such agreement, instrument or other document filed as an exhibit to the registration
statement, we refer you to the exhibit for a more complete description of the matter involved, and
each such statement shall be deemed qualified in its entirety by this reference.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I. INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information specified by Items 1 and 2 of Part&nbsp;I of Form S-8 is omitted from this filing
in accordance with the provisions of Rule&nbsp;428 of the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), and the introductory note to Part&nbsp;I of Form S-8.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of Form S-8 will be sent or given
without charge to participating employees as specified by Rule 428(b) of the Securities Act. Such
documents and the documents incorporated by reference herein pursuant to Item&nbsp;3 of Part&nbsp;II hereof,
taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Reoffer Prospectus</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>97,166 Shares</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>EQUITY ONE, INC.</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Common Stock</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This reoffer prospectus relates to 97,166 shares of our common stock, par value $0.01 per
share, consisting of 97,166 restricted shares, which may be offered for sale from time to time by
Jeffrey S. Olson, who, at the date of this prospectus, is our Chief Executive Officer, as described
under the caption &#147;Selling Stockholder.&#148; We will not receive any proceeds from the sale of shares
of common stock pursuant to this reoffer prospectus. The selling stockholder acquired the common
stock pursuant to grants under the First Amended and Restated Employment Agreement, dated August
28, 2006, by and between the Company and Jeffrey S. Olson. Such shares are subject to vesting over
a four (4)&nbsp;year period and the selling stockholder may resell all, a portion, or none of the shares
of common stock from time to time to the extent such shares are vested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares of common stock are &#147;restricted securities&#148; or &#147;control securities&#148; under the
Securities Act before their sale under this reoffer prospectus. This reoffer prospectus has been
prepared for the purpose of registering the shares under the Securities Act to allow for future
sales by the selling stockholder, on a continuous or delayed basis, to the public without
restriction. Should the stockholder sell shares of our common stock pursuant to
this reoffer prospectus he may be deemed to be an &#147;underwriter&#148; within the meaning of the
Securities Act. Any commissions received by a broker or dealer in connection with resales of
shares may be deemed to be underwriting commissions or discounts under the Securities Act.
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should carefully read this reoffer prospectus and any accompanying prospectus supplement
before you make your investment decision. The shares of common stock offered hereby may be sold
from time to time directly by, or on behalf of, the selling stockholder in one or more transactions
on the New York Stock Exchange or on any stock exchange on which our common stock may be listed at
the time of sale, in privately negotiated transactions, or through a combination of such methods,
at market prices prevailing at the time of sale, at prices related to such prevailing market
prices, at fixed prices (which may be changed) or at negotiated prices. We will not receive any
proceeds from any of these sales. We are paying the expenses incurred in registering the shares,
but all selling and other expenses incurred by each of the selling stockholder will be borne by
that stockholder.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>____________________________</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Investing in the common stock involves risks. See &#147;Risk Factors&#148; contained in certain of the
documents incorporated by reference in this Reoffer Prospectus.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our common stock is traded on the New York Stock Exchange under the symbol &#147;EQY.&#148; On May&nbsp;1,
2008, the last reported sale price of our common stock on the New York Stock Exchange was $24.45
per share. As of April&nbsp;28, 2008 we had 74,015,250 shares of common stock outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS
APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR
COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>____________________________</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>The date of this reoffer prospectus is May&nbsp;7, 2008</B>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<!-- TOC -->
</DIV>
<DIV align="left">
<A name="tocpage"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>TABLE OF CONTENTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Page</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#101">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#102">EQUITY ONE, INC. &#151;  SUMMARY OUR COMPANY</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#103">FORWARD-LOOKING INFORMATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#104">USE OF PROCEEDS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#105">SELLING STOCKHOLDER</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#106">PLAN OF DISTRIBUTION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#107">LEGAL MATTERS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#108">EXPERTS</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><A href="#109">WHERE YOU CAN FIND MORE INFORMATION</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="g13232exv5w1.htm">EX-5.1 Opinion of Venable LLP</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="g13232exv23w1.htm">EX-23.1 Consent of Ernst & Young LLP</A></FONT></TD></TR>
</TABLE>
</DIV>

<DIV align="left">
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</DIV>
<DIV align="left">
<A name="/tocapge"></A>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->i<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="101"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The SEC permits us to &#147;incorporate by reference&#148; the information and reports we file with it.
This means that we can disclose important information to you by referring to another document. The
information that we incorporate by reference is considered to be part of this prospectus, and later
information that we file with the SEC automatically updates and supersedes this information.
Specifically, we incorporate by reference:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2007;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Current Reports on Form 8-K filed on January&nbsp;15, 2008, March&nbsp;18, 2008 and
April&nbsp;4, 2008 (not including any information furnished under Items 2.02, 7.01 or 9.01
of Form 8-K, which information is not incorporated by reference herein);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31, 2008; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Proxy Statement on Schedule&nbsp;14A filed on April&nbsp;17, 2008; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of our Common Stock contained in our Registration Statement on
Form 8-A, dated October&nbsp;15, 1997 pursuant to Section&nbsp;12 of the Exchange Act, and any
amendment or report filed for the purpose of updating any such description.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents that we subsequently file pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d) of the
Exchange Act (not including any information furnished under Items 2.02, 7.01 or 9.01 of Form 8-K
and any other information that is identified as &#147;furnished&#148; rather than filed, which information is
not incorporated by reference herein), prior to the filing of a post-effective amendment which
indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference into this registration
statement and to be a part hereof from the date of filing of such documents. Any statement
contained in a document incorporated herein by reference shall be deemed to be modified or
superseded for purposes of this registration statement to the extent that a statement contained
herein, or in a subsequently filed document incorporated herein by reference, modifies or
supersedes the statement. Any statement modified or superseded will not be deemed, except as
modified or superseded, to constitute a part of this registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will provide a copy of these filings to each person, including any beneficial owner, to
whom we deliver this prospectus, upon written or oral request. You may request a copy of these
filings at no cost by writing or telephoning us at the following address:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Equity One, Inc.<BR>
1600 N.E. Miami Gardens Drive<BR>
North Miami Beach, Florida 33179<BR>
(305)&nbsp;974-1664<BR>
Attention: Arthur L. Gallagher, General Counsel
</DIV>

<DIV align="left">
<A name="102"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EQUITY ONE, INC. &#151; SUMMARY<BR>
OUR COMPANY</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This summary highlights selected information and does not contain all the information that is
important to you. You should carefully read this reoffer prospectus, any applicable prospectus
supplement and the documents to which we have referred to in &#147;Incorporation of Certain Documents by
Reference&#148; on page 1 of this reoffer prospectus for information about us and our financial
statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a real estate investment trust, or REIT, that principally owns, manages, acquires and
develops neighborhood and community shopping centers anchored by leading supermarket chains and
other necessity-oriented retailers, such as drug stores or discount retail stores, in major
metropolitan markets of the southern and northeastern United States.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our property portfolio, as of March&nbsp;31, 2008, consisted of 169 properties, comprising 153
shopping centers, six development/redevelopment properties, six non-retail properties, and four
parcels of land. These properties are located in 11 states in the southern and northeastern United
States and contain an aggregate of approximately 17.1&nbsp;million square feet of gross leasable area,
or GLA. Our portfolio includes shopping centers anchored by leading supermarkets such as
Albertsons, Food Lion, Kash n&#146; Karry, Kroger, Publix, Shaw&#146;s and Winn Dixie and
other national retailers such as Bed Bath &#038; Beyond, Best Buy, Blockbuster, CVS/pharmacy, Eckerd,
Home Depot, Kmart, Lowe&#146;s, Marshall&#146;s, TJ Maxx, Walgreens and Wal-Mart.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since 1995, we have consistently elected to be treated as a REIT under the Internal Revenue
Code during each tax year. To qualify as a REIT, we must satisfy various tests, including tests
related to the source and amount of our income, the nature of our assets and our stock ownership.
You should carefully read the section entitled &#147;Material Federal Income Tax Considerations&#148; in this
reoffer prospectus and any applicable supplement relating to this reoffer prospectus for additional
information regarding these tests.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our principal executive offices are located at 1600 N.E. Miami Gardens Drive, North Miami
Beach, Florida 33179 in the Shops at Skylake. Our telephone number is (305)&nbsp;947-1664 and our
facsimile number is (305)&nbsp;947-1734.
</DIV>
<DIV align="left">
<A name="103"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>FORWARD-LOOKING INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This reoffer prospectus, including the information incorporated by reference, contains
&#147;forward-looking statements&#148; within the meaning of Section&nbsp;27A of the Securities Act of 1933, as
amended and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations and are not guarantees of future performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All statements other than statements of historical facts contained in this reoffer prospectus,
including statements regarding the benefits and risks associated with our acquisitions, our future
operating results, financial position, and business strategy, expectations regarding our growth and
the growth of the industry in which we operate, and plans and objectives of management for future
operations, are forward-looking statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as &#147;may,&#148; &#147;will,&#148; &#147;might,&#148; &#147;would,&#148; &#147;expect,&#148; &#147;anticipate,&#148;
&#147;estimate,&#148; &#147;could,&#148; &#147;should,&#148; &#147;believe,&#148; &#147;intend,&#148; &#147;project,&#148; &#147;forecast,&#148; &#147;target,&#148; &#147;plan,&#148; or
&#147;continue&#148; or the negative of these words or other variations or comparable terminology, and such
information is subject to certain risks, trends and uncertainties that could cause actual results
to differ materially from those projected. Because these statements are subject to risks and
uncertainties, actual results may differ materially from those expressed or implied by the
forward-looking statements. We caution you not to place undue reliance on these statements, which
speak only as of the date of this prospectus.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Among the factors that could cause actual results to differ materially are:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>general economic conditions, and the effect of these conditions on rental
rates and the demand for retail space in the markets where we own properties;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>risks that tenants will not take or remain in occupancy, pay rent or be
financially successful;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the effects of hurricanes and other disasters;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>interest rate levels and the availability of financing;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>potential environmental liability and other risks associated with the
ownership, development and acquisition of shopping center properties;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>greater than anticipated construction or operating costs;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>inflationary and other general economic trends;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>supply constraints in our geographic markets and the availability of
properties for acquisition;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the success of our efforts to lease vacant space;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>management&#146;s ability to successfully combine and integrate the operations of
properties or companies that we have or may acquire in the future; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>other risks detailed from time to time in the reports filed by us with the
Securities and Exchange Commission.</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should not unduly rely on these forward-looking statements, which speak only as of the
date of this reoffer prospectus. Except for ongoing obligations to disclose material information as
required by the federal securities laws, we undertake no obligation to release publicly any
revisions to any forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. You should, however, review the
factors and risks we describe in the reports we will file from time to time with the SEC after the
date of this prospectus. See &#147;Where You Can Find More Information.&#148;
</DIV>
<DIV align="left">
<A name="104"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>USE OF PROCEEDS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will not receive any of the proceeds from the sale of shares which may be sold by this
reoffer prospectus. All expenses of registration incurred in connection with this offering are
being borne by us, but all selling and other expenses incurred by a selling stockholder will be
borne by the selling stockholder.
</DIV>
<DIV align="left">
<A name="105"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SELLING STOCKHOLDER</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The 97,166 shares of our common stock to which this reoffer prospectus relates is comprised of
97,166 restricted shares. Such shares are being registered for reoffers and resales by our officer
named below who acquired the shares under the First Amended and Restated Employment Agreement,
dated August&nbsp;28, 2006, between Equity One, Inc. and Jeffrey S. Olson. Such shares will vest in
equal installments on each of January&nbsp;1, 2008, January&nbsp;1, 2009, January&nbsp;1, 2010 and December&nbsp;31,
2010. The selling stockholder may resell all, a portion, or none of the shares of our common stock
from time to time to the extent such shares are vested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because the selling stockholder may from time to time offer all or some of the shares pursuant
to this offering, we cannot give an estimate as to the number of shares that the selling
stockholder will hold upon termination of any of these sales. In addition, the selling stockholder
may have sold, transferred or otherwise disposed of all or a portion of his shares since the date
on which it provided the information to us regarding its shares, in transactions exempt from the
registration requirements of the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The address of the selling stockholder is c/o of Equity One, Inc., 1600 N.E. Miami Gardens
Drive, North Miami Beach, Florida 33179.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Percent of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of Shares to</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Common</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>be Beneficially</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Owned if</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Shares of Common</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Covered by</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Owned if All Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>All Shares</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Position with</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Stock Beneficially</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>This Reoffer</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offered Hereby Are</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Offered Hereby</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Name of Selling Shareholder</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Equity One, Inc.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Owned</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Prospectus</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Sold</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Are Sold</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jeffrey S. Olson<SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">331,619 <SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">97,166</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">331,619</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">*</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>denotes less than 1%</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Beneficial owner means any person who, directly or indirectly, through any contract,
arrangement, understanding, relationship or otherwise has or shares: (i)&nbsp;voting power, which
includes the power to vote, or to direct the voting of, shares of our common stock; and/or
(ii)&nbsp;investment power, which includes the power to dispose, or to direct the disposition of,
shares of our common stock. A person is also deemed to be the beneficial owner of a security
if that person has the right to acquire beneficial ownership of such security at any time
within 60&nbsp;days of May&nbsp;6, 2008. In computing the number of shares beneficially owned by a
person and the percentage ownership of that person, shares of common stock subject to options
held by that person that are currently exercisable or exercisable within 60&nbsp;days of May&nbsp;6,
2008, are deemed outstanding. These shares are not, however, deemed outstanding for the
purposes of computing the percentage ownership of any other person.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Based on 74,015,250 shares of common stock outstanding as of April&nbsp;28, 2008.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(3)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Previously served the Company in a dual capacity as its Chief Executive Officer and
President</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(4)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>Includes: (i)&nbsp;232,330 shares of common stock that may be acquired upon the exercise
of currently exercisable stock options; (ii)&nbsp;97,166 restricted shares covered by this reoffer
prospectus; and (iii)&nbsp;approximately 2,123 shares purchased under the Company&#146;s 2004 Employee
Stock Purchase Plan.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule&nbsp;416 under the Securities Act, the registration statement of which this
prospectus is a part also covers any additional common shares which become issuable in connection
with the shares identical in the table above through any stock dividend, stock split,
recapitalization or other similar transaction effected without the receipt of consideration, which
results in an increase in the number of outstanding common shares.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="106"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PLAN OF DISTRIBUTION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares of common stock covered by this reoffer prospectus are being registered by us for
the account of the selling stockholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares of common stock offered hereby may be sold from time to time directly by or on
behalf of each selling stockholder in one or more transactions on the New York Stock Exchange or on
any stock exchange on which the common stock may be listed at the time of sale, in privately
negotiated transactions, or through a combination of such methods, at market prices prevailing at
the time of sale, at prices related to such prevailing market prices, at fixed prices (which may be
changed) or at negotiated prices. The selling stockholder may sell shares through one or more
agents, brokers or dealers or directly to purchasers. Such brokers or dealers may receive
compensation in the form of commissions, discounts or concessions from the selling stockholder
and/or purchasers of the shares or both. Such compensation as to a particular broker or dealer may
be in excess of customary commissions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with their sales, a selling stockholder and any participating broker or dealer
may be deemed to be &#147;underwriters&#148; within the meaning of the Securities Act, and any commissions
they receive and the proceeds of any sale of shares may be deemed to be underwriting discounts and
commissions under the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are bearing all costs relating to the registration of the shares of common stock. Any
commissions or other fees payable to broker-dealers in connection with any sale of the shares will
be borne by the selling stockholder or other party selling such shares. In order to comply with
certain states&#146; securities laws, if applicable, the shares may be sold in such jurisdictions only
through registered or licensed brokers or dealers. In certain states, the shares may not be sold
unless the shares have been registered or qualified for sale in such state, or unless an exemption
from registration or qualification is available and is obtained or complied with. Sales of the
shares must also be made by the selling stockholder in compliance with all other applicable state
securities laws and regulations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to any shares sold hereunder, selling stockholder may sell shares of common stock
in compliance with Rule&nbsp;144. There is no assurance that the selling stockholder will sell all or a
portion of the common stock offered hereby.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder may agree to indemnify any broker-dealer or agent that participates in
transactions involving sales of the shares against certain liabilities in connection with the
offering of the shares arising under the Securities Act of 1933.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have notified the selling stockholder of the need to deliver a copy of this prospectus in
connection with any sale of the shares.
</DIV>
<DIV align="left">
<A name="107"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>LEGAL MATTERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the shares of common stock to be offered hereby will be passed upon for us by
Venable LLP, Baltimore, Maryland.
</DIV>
<DIV align="left">
<A name="108"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXPERTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements appearing in our Annual Report (Form 10-K) for the year
ended December&nbsp;31, 2007 (including the schedules appearing therein), and the effectiveness of our
internal control over financial reporting as of December&nbsp;31, 2007 have been audited by Ernst &#038;
Young LLP, independent registered public accounting firm, as set forth in their reports thereon,
included therein, and incorporated herein by reference. Such consolidated financial statements are
incorporated herein by reference in reliance upon such reports given on the authority of such firm
as experts in accounting and auditing.
</DIV>
<DIV align="left">
<A name="109"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>WHERE YOU CAN FIND MORE INFORMATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We file annual, quarterly and special reports, proxy statements and other information with the
SEC. You may read and copy any document we file with the SEC at the SEC&#146;s public reference room at
100 F Street, N.E. Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further
information on the public reference room. The SEC maintains an internet site that contains reports, proxy and information
statements, and other information that we file electronically with the SEC and which are available
at the SEC&#146;s web site at: http://www.sec.gov. You can also inspect reports and other information we
file at the offices of the New York Stock Exchange, 20 Broad Street, 17th Floor, New York, New York
10005.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should only rely on the information incorporated by reference or provided in this reoffer
prospectus or any supplement. We have not authorized anyone else to provide you with different
information. The common stock is not being offered in any state where the offer is not permitted.
You should not assume that the information in this reoffer prospectus or any supplement is accurate
as of any date other than the date on the front of this reoffer prospectus.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents, which have been filed with the Securities and Exchange Commission,
are hereby incorporated by reference into this registration statement:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2007;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Current Reports on Form 8-K filed on January&nbsp;15, 2008, March&nbsp;18, 2008 and
April&nbsp;4, 2008 (not including any information furnished under Items 2.02, 7.01 or 9.01
of Form 8-K, which information is not incorporated by reference herein);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31, 2008;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our Proxy Statement on Schedule&nbsp;14A filed on April&nbsp;17, 2008; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of our Common Stock contained in our Registration Statement on
Form 8-A, dated October&nbsp;15, 1997 pursuant to Section&nbsp;12 of the Exchange Act, and any
amendment or report filed for the purpose of updating any such description.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, all documents subsequently filed by us pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Exchange Act (not including any information furnished under Items 2.02, 7.01 or 9.01
of Form 8-K, which information is not incorporated by reference herein) prior to the filing of a
post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, will be deemed to be incorporated herein by
reference and to be a part of this registration statement from the date of filing of such
documents. Any statement contained in a document incorporated herein by reference will be deemed
to be modified or superseded for purposes of this registration statement to the extent that a
statement contained herein, or in a subsequently filed document incorporated herein by reference,
modifies or supersedes the statement. Any statement modified or superseded will not be deemed,
except as modified or superseded, to constitute a part of this registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Limitation of Liability and Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Maryland General Corporation Law permits a Maryland corporation to include in its charter
a provision limiting the liability of its directors and officers to the corporation and its
stockholders for money damages except for liability resulting from (a)&nbsp;actual receipt of an
improper benefit or profit in money, property or services or
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;active and deliberate dishonesty established by a final judgment as being material to the
cause of action. Our charter contains such a provision which limits such liability to the maximum
extent permitted by Maryland law. This provision does not limit our ability, or our stockholders&#146;
ability, to obtain other relief, such as an injunction or rescission.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our charter and bylaws authorize and obligate us, to the maximum extent permitted by Maryland
law, to indemnify and to pay or reimburse reasonable expenses in advance of final disposition of a
proceeding to any present or former director or officer who is made a party to the proceeding by
reason of his or her service in that capacity or any individual who, while serving as a director on
our board, and at our request, serves or has served another corporation, REIT, partnership, joint
venture, trust, employee benefit plan or any other enterprise as a director, officer, partner or
trustee of such corporation, REIT, partnership, joint venture, trust, employee benefit plan or
other enterprise and who is made a party to the proceeding by reason of his or her service in that
capacity. Our charter and bylaws also permit us to indemnify and advance expenses to any person
who served a predecessor to us in any of the capacities described above and to any of our employees
or agents, or employees or agents of us or a predecessor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland law requires a corporation, unless its charter provides otherwise, which our charter
does not, to indemnify a director or officer who has been successful, on the merits or otherwise,
in the defense of any proceeding to which he or she is made a party by reason of his or her service
in that capacity. Maryland law also permits a corporation to indemnify its present and former
directors and officers, among others, against judgments, penalties, fines, settlements and
reasonable expenses actually incurred by them in connection with any proceeding to which they may
be made a party by reason of their service in those or other capacities unless it is established
that the act or omission of the director or officer was material to the matter giving rise to the
proceeding and was committed in bad faith or was the result of active and deliberate dishonesty,
the director or officer actually received an improper personal benefit in money, property or
services or, in the case of any criminal proceeding, the director or officer had reasonable cause
to believe that the act or omission was unlawful. However, under Maryland law, a Maryland
corporation may not indemnify for an adverse judgment in a suit by or in the right of the
corporation or for a judgment of liability on the basis that a personal benefit was improperly
received, unless in either case a court orders indemnification and then only for expenses. In
addition, Maryland law permits a corporation to advance reasonable expenses to a director or
officer upon our receipt of a written affirmation by the director or officer of his good faith
belief that he has met the standard of conduct necessary for indemnification by us and a written
undertaking by him or on his behalf to repay the amount paid or reimbursed by us if it shall
ultimately be determined that the standard of conduct was not met.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have entered into indemnification agreements with each member of the board of directors.
The indemnification agreements require, among other things, that we indemnify to the fullest extent
permitted by law and advance to each indemnified director all related expenses, subject to
reimbursement if it is subsequently determined that indemnification is not permitted. Under the
indemnification agreements, we must also indemnify and advance all expenses incurred by an
indemnified director seeking to enforce his rights under the indemnification agreements and may
cover executive officers and directors under our directors&#146; and officers&#146; liability insurance.
Although the form of indemnification agreement offers substantially the same scope of coverage
afforded by law, it provides greater assurance to directors and executive officers that
indemnification will be available, because, as a contract, it cannot be modified unilaterally in
the future by the board of directors or the stockholders to eliminate the rights it provides.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It is the position of the Securities and Exchange Commission that indemnification of directors
and officers for liabilities arising under the Securities Act is against public policy and is
unenforceable pursuant to Section&nbsp;14 of the Securities Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See &#147;Exhibit&nbsp;Index&#148; on page II-1 below.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933 (the &#147;Securities Act&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To reflect in the prospectus any facts or
events arising after the effective date of the registration statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent not more than a 20
percent change in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective registration
statement;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="10%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(iii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To include any material information with
respect to the plan of distribution not previously disclosed in the
registration statement or any material change to such information in
the registration statement;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) that are
incorporated by reference in this registration statement.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona
fide </I>offering thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrant&#146;s annual report pursuant to
section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to section 15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of North Miami Beach, State of Florida on this 6<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of
May, 2008.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="58%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>EQUITY ONE, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Arthur L. Gallagher&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Arthur L. Gallagher&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President and General Counsel&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby appoints Jeffrey S. Olson and Arthur L.
Gallagher his or her true and lawful attorney-in-fact each acting alone with authority to execute
in the name of each such person, acting singly, and to file with the Securities and Exchange
Commission, together with any exhibits thereto and other documents therewith, any and all
amendments (including without limitation post-effective amendments) to this registration statement
necessary or advisable to enable the registrant to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and Exchange Commission in
respect thereof, which amendments may make such other changes in the registration statement as the
aforesaid attorney-in-fact executing the same deems appropriate. Pursuant to the requirements of
the Act, this registration statement has been signed below by the following persons in the
capacities and on the dates indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="22%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>

</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">/s/ Jeffrey S. Olson&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Jeffrey S. Olson</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Chief Executive Officer <br> (Principal Executive
Officer and Director)
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Thomas Caputo&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Thomas Caputo</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
President
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Gregory R. Andrews&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Gregory R. Andrews</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Executive Vice President and Chief Financial Officer<br>
(Principal Accounting and Financial Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Chaim Katzman&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Chaim Katzman</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Chairman of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Noam Ben-Ozer&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Noam Ben-Ozer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
James S. Cassel</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Cynthia Cohen&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Cynthia Cohen</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Neil Flanzraich&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Neil Flanzraich</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Nathan Hetz</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Peter Linneman&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Peter Linneman</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">May 6, 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;<BR>
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Dori Segal</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Vice Chairman of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="89%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>

</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Venable LLP</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Ernst &#038; Young LLP</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Venable LLP (contained in its opinion filed as Exhibit&nbsp;5.1 hereto)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (contained on the signature pages of this Registration Statement)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

</BODY>
</HTML>
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Equity One, Inc.
Table of Contents
As
filed with the Securities and Exchange Commission on May 7, 2008
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
EQUITY ONE, INC.
(Exact name of registrant as specified in its charter)
Maryland
52-1794271
(State or other jurisdiction of incorporation or
organization)
(IRS Employer
Identification Number)
1600 N.E. Miami Gardens Drive
North Miami Beach, Florida 33179
(Address of Principal Executive Offices
)
Equity One, Inc. Amended and Restated 2000 Executive Incentive Compensation Plan
First Amended and Restated Employment Agreement, dated as of August 28, 2006,
between Equity One, Inc. and Jeffrey S. Olson (the "Employment Agreement")
(Full title of the Plans)
Arthur L. Gallagher, Esq.
General Counsel
Equity One, Inc.
1600 N.E. Miami Gardens Drive
North Miami Beach, Florida 33179
(Name and address of agent for service)
(305) 947-1664
Telephone number, including area code, of agent for service
Copies to:
Ira N. Rosner, Esq.
Barbara J. Oikle, Esq.
Greenberg Traurig, P.A.
1221 Brickell Avenue
Miami, Florida 33131
(305) 579-0500
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See the definitions of
"large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2
of the Exchange Act. (Check one):
Large accelerated filer
x
Accelerated filer
o
Non-accelerated filer
o
Smaller reporting company
o
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed
Title of securities
Amount to be
offering price
maximum aggregate
Amount of
to be registered
Registered (1)
per share
offering price
registration fee
Common Stock, $0.01
par value, to be
issued pursuant to
the Equity One,
Inc. Amended and
Restated 2000
Executive Incentive
Compensation Plan.
3,000,000 shares
$
24.43
(2)
$
73,290,000.00
(2)
$
2,880.30
Common Stock, $0.01
par value, to be
issued pursuant to
options granted as
an employment
inducement award
under the
Employment
Agreement.
364,660 shares
$
24.70
(3)
$
9,007,102.00
(3)
$
353.98
Common Stock, $0.01
par value, of
restricted shares
issued as an
employment
inducement award
under the
Employment
Agreement.
97,166 shares
$
24.43
(2)
$
2,373,765.38
(2)
$
93.29
(1)
Pursuant to Rule 416 of the Securities Act of 1933, as amended (the "Securities Act"), this
registration statement shall also cover any additional shares of common stock, $0.01 par
value, of Equity One, Inc. (the "Common Stock") which may be offered or become issuable by
reason of any stock dividend, stock split, recapitalization or other similar transaction
effected without the receipt of consideration which results in an increase in the number of
our outstanding shares of Common Stock.
(2)
Estimated solely for the purpose of calculating the registration fee in accordance with Rules
457(c) and 457(h) of the Securities Act on the basis of the average of the high and low price
of a share of Common Stock as reported by the New York Stock Exchange on May 1, 2008.
(3)
Estimated solely for the purpose of calculating the registration fee in accordance with Rule
457(h) of the Securities Act on the basis of the option exercise price which pursuant to the
Employment Agreement is $24.70 per share.
Table of Contents
EXPLANATORY NOTE
This Registration Statement on Form S-8 is being filed by Equity One, Inc., a Maryland
corporation (the "Company"), for the purpose of registering a total of (i) 364,660 shares of its
common stock, $0.01 par value ("Common Stock") for future issuance upon exercise of stock options
and 97,166 shares of restricted stock (the "Restricted Stock") for resale, which shares of
restricted stock and options were granted as an employment inducement in accordance with NYSE
Standards pursuant to the First Amended and Restated Employment Agreement, dated August 28, 2006,
by and between the Company and Jeffrey S. Olson, and (ii) a total of 3,000,000 additional shares of
our Common Stock, issuable pursuant to the Equity One, Inc. Amended and Restated 2000 Executive
Incentive Compensation Plan for which previously filed Registration Statements on Form S-8 (File
No. 333-99577 and File No. 333-118347) are effective (the "Prior Registration Statements").
Pursuant to Instruction E of Form S-8, the contents of the Prior Registration Statements, as filed
with the Securities and Exchange Commission on September 13, 2002 and August 18, 2004,
respectively, are incorporated herein by reference.
This registration statement also includes a reoffer prospectus. The reoffer prospectus may be
utilized for reoffering and resales on a continuous or a delayed basis in the future of up to
97,166 shares of the Restricted Stock that constitute "control securities" and/or "restricted
securities." The reoffer prospectus does not contain all of the information included in the
registration statement, certain items of which are contained in schedules and exhibits to the
registration statement as permitted by the rules and regulations of the Securities and Exchange
Commission (the "SEC"). Statements contained in this reoffer prospectus as to the contents of any
agreement, instrument or other document referred to are not necessarily complete. With respect to
each such agreement, instrument or other document filed as an exhibit to the registration
statement, we refer you to the exhibit for a more complete description of the matter involved, and
each such statement shall be deemed qualified in its entirety by this reference.
PART I. INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
The information specified by Items 1 and 2 of Part I of Form S-8 is omitted from this filing
in accordance with the provisions of Rule 428 of the Securities Act of 1933, as amended (the
"Securities Act"), and the introductory note to Part I of Form S-8.
The documents containing the information specified in Part I of Form S-8 will be sent or given
without charge to participating employees as specified by Rule 428(b) of the Securities Act. Such
documents and the documents incorporated by reference herein pursuant to Item 3 of Part II hereof,
taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
Securities Act.
Reoffer Prospectus
97,166 Shares
EQUITY ONE, INC.
Common Stock
This reoffer prospectus relates to 97,166 shares of our common stock, par value $0.01 per
share, consisting of 97,166 restricted shares, which may be offered for sale from time to time by
Jeffrey S. Olson, who, at the date of this prospectus, is our Chief Executive Officer, as described
under the caption "Selling Stockholder." We will not receive any proceeds from the sale of shares
of common stock pursuant to this reoffer prospectus. The selling stockholder acquired the common
stock pursuant to grants under the First Amended and Restated Employment Agreement, dated August
28, 2006, by and between the Company and Jeffrey S. Olson. Such shares are subject to vesting over
a four (4) year period and the selling stockholder may resell all, a portion, or none of the shares
of common stock from time to time to the extent such shares are vested.
The shares of common stock are "restricted securities" or "control securities" under the
Securities Act before their sale under this reoffer prospectus. This reoffer prospectus has been
prepared for the purpose of registering the shares under the Securities Act to allow for future
sales by the selling stockholder, on a continuous or delayed basis, to the public without
restriction. Should the stockholder sell shares of our common stock pursuant to
this reoffer prospectus he may be deemed to be an "underwriter" within the meaning of the
Securities Act. Any commissions received by a broker or dealer in connection with resales of
shares may be deemed to be underwriting commissions or discounts under the Securities Act.
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You should carefully read this reoffer prospectus and any accompanying prospectus supplement
before you make your investment decision. The shares of common stock offered hereby may be sold
from time to time directly by, or on behalf of, the selling stockholder in one or more transactions
on the New York Stock Exchange or on any stock exchange on which our common stock may be listed at
the time of sale, in privately negotiated transactions, or through a combination of such methods,
at market prices prevailing at the time of sale, at prices related to such prevailing market
prices, at fixed prices (which may be changed) or at negotiated prices. We will not receive any
proceeds from any of these sales. We are paying the expenses incurred in registering the shares,
but all selling and other expenses incurred by each of the selling stockholder will be borne by
that stockholder.
____________________________
Investing in the common stock involves risks. See "Risk Factors" contained in certain of the
documents incorporated by reference in this Reoffer Prospectus.
Our common stock is traded on the New York Stock Exchange under the symbol "EQY." On May 1,
2008, the last reported sale price of our common stock on the New York Stock Exchange was $24.45
per share. As of April 28, 2008 we had 74,015,250 shares of common stock outstanding.
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS
APPROVED OR DISAPPROVED OF THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS TRUTHFUL OR
COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
____________________________
The date of this reoffer prospectus is May 7, 2008
TABLE OF CONTENTS
Page
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
1
EQUITY ONE, INC. —  SUMMARY OUR COMPANY
1
FORWARD-LOOKING INFORMATION
2
USE OF PROCEEDS
3
SELLING STOCKHOLDER
3
PLAN OF DISTRIBUTION
4
LEGAL MATTERS
4
EXPERTS
4
WHERE YOU CAN FIND MORE INFORMATION
4
EX-5.1 Opinion of Venable LLP
EX-23.1 Consent of Ernst & Young LLP
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INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The SEC permits us to "incorporate by reference" the information and reports we file with it.
This means that we can disclose important information to you by referring to another document. The
information that we incorporate by reference is considered to be part of this prospectus, and later
information that we file with the SEC automatically updates and supersedes this information.
Specifically, we incorporate by reference:
(a)
Our Annual Report on Form 10-K for the fiscal year ended December 31, 2007;
(b)
Our Current Reports on Form 8-K filed on January 15, 2008, March 18, 2008 and
April 4, 2008 (not including any information furnished under Items 2.02, 7.01 or 9.01
of Form 8-K, which information is not incorporated by reference herein);
(c)
Our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008; and
(d)
Our Proxy Statement on Schedule 14A filed on April 17, 2008; and
(e)
The description of our Common Stock contained in our Registration Statement on
Form 8-A, dated October 15, 1997 pursuant to Section 12 of the Exchange Act, and any
amendment or report filed for the purpose of updating any such description.
All documents that we subsequently file pursuant to Sections 13(a), 13(c), 14 or 15(d) of the
Exchange Act (not including any information furnished under Items 2.02, 7.01 or 9.01 of Form 8-K
and any other information that is identified as "furnished" rather than filed, which information is
not incorporated by reference herein), prior to the filing of a post-effective amendment which
indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold, shall be deemed to be incorporated by reference into this registration
statement and to be a part hereof from the date of filing of such documents. Any statement
contained in a document incorporated herein by reference shall be deemed to be modified or
superseded for purposes of this registration statement to the extent that a statement contained
herein, or in a subsequently filed document incorporated herein by reference, modifies or
supersedes the statement. Any statement modified or superseded will not be deemed, except as
modified or superseded, to constitute a part of this registration statement.
We will provide a copy of these filings to each person, including any beneficial owner, to
whom we deliver this prospectus, upon written or oral request. You may request a copy of these
filings at no cost by writing or telephoning us at the following address:
Equity One, Inc.
1600 N.E. Miami Gardens Drive
North Miami Beach, Florida 33179
(305) 974-1664
Attention: Arthur L. Gallagher, General Counsel
EQUITY ONE, INC. — SUMMARY
OUR COMPANY
This summary highlights selected information and does not contain all the information that is
important to you. You should carefully read this reoffer prospectus, any applicable prospectus
supplement and the documents to which we have referred to in "Incorporation of Certain Documents by
Reference" on page 1 of this reoffer prospectus for information about us and our financial
statements.
We are a real estate investment trust, or REIT, that principally owns, manages, acquires and
develops neighborhood and community shopping centers anchored by leading supermarket chains and
other necessity-oriented retailers, such as drug stores or discount retail stores, in major
metropolitan markets of the southern and northeastern United States.
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Our property portfolio, as of March 31, 2008, consisted of 169 properties, comprising 153
shopping centers, six development/redevelopment properties, six non-retail properties, and four
parcels of land. These properties are located in 11 states in the southern and northeastern United
States and contain an aggregate of approximately 17.1 million square feet of gross leasable area,
or GLA. Our portfolio includes shopping centers anchored by leading supermarkets such as
Albertsons, Food Lion, Kash n' Karry, Kroger, Publix, Shaw's and Winn Dixie and
other national retailers such as Bed Bath & Beyond, Best Buy, Blockbuster, CVS/pharmacy, Eckerd,
Home Depot, Kmart, Lowe's, Marshall's, TJ Maxx, Walgreens and Wal-Mart.
Since 1995, we have consistently elected to be treated as a REIT under the Internal Revenue
Code during each tax year. To qualify as a REIT, we must satisfy various tests, including tests
related to the source and amount of our income, the nature of our assets and our stock ownership.
You should carefully read the section entitled "Material Federal Income Tax Considerations" in this
reoffer prospectus and any applicable supplement relating to this reoffer prospectus for additional
information regarding these tests.
Our principal executive offices are located at 1600 N.E. Miami Gardens Drive, North Miami
Beach, Florida 33179 in the Shops at Skylake. Our telephone number is (305) 947-1664 and our
facsimile number is (305) 947-1734.
FORWARD-LOOKING INFORMATION
This reoffer prospectus, including the information incorporated by reference, contains
"forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations and are not guarantees of future performance.
All statements other than statements of historical facts contained in this reoffer prospectus,
including statements regarding the benefits and risks associated with our acquisitions, our future
operating results, financial position, and business strategy, expectations regarding our growth and
the growth of the industry in which we operate, and plans and objectives of management for future
operations, are forward-looking statements. Forward-looking statements can be identified by the use
of forward-looking terminology such as "may," "will," "might," "would," "expect," "anticipate,"
"estimate," "could," "should," "believe," "intend," "project," "forecast," "target," "plan," or
"continue" or the negative of these words or other variations or comparable terminology, and such
information is subject to certain risks, trends and uncertainties that could cause actual results
to differ materially from those projected. Because these statements are subject to risks and
uncertainties, actual results may differ materially from those expressed or implied by the
forward-looking statements. We caution you not to place undue reliance on these statements, which
speak only as of the date of this prospectus.
Among the factors that could cause actual results to differ materially are:
•
general economic conditions, and the effect of these conditions on rental
rates and the demand for retail space in the markets where we own properties;
•
risks that tenants will not take or remain in occupancy, pay rent or be
financially successful;
•
the effects of hurricanes and other disasters;
•
interest rate levels and the availability of financing;
•
potential environmental liability and other risks associated with the
ownership, development and acquisition of shopping center properties;
•
greater than anticipated construction or operating costs;
•
inflationary and other general economic trends;
•
supply constraints in our geographic markets and the availability of
properties for acquisition;
•
the success of our efforts to lease vacant space;
•
management's ability to successfully combine and integrate the operations of
properties or companies that we have or may acquire in the future; and
•
other risks detailed from time to time in the reports filed by us with the
Securities and Exchange Commission.
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You should not unduly rely on these forward-looking statements, which speak only as of the
date of this reoffer prospectus. Except for ongoing obligations to disclose material information as
required by the federal securities laws, we undertake no obligation to release publicly any
revisions to any forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events. You should, however, review the
factors and risks we describe in the reports we will file from time to time with the SEC after the
date of this prospectus. See "Where You Can Find More Information."
USE OF PROCEEDS
We will not receive any of the proceeds from the sale of shares which may be sold by this
reoffer prospectus. All expenses of registration incurred in connection with this offering are
being borne by us, but all selling and other expenses incurred by a selling stockholder will be
borne by the selling stockholder.
SELLING STOCKHOLDER
The 97,166 shares of our common stock to which this reoffer prospectus relates is comprised of
97,166 restricted shares. Such shares are being registered for reoffers and resales by our officer
named below who acquired the shares under the First Amended and Restated Employment Agreement,
dated August 28, 2006, between Equity One, Inc. and Jeffrey S. Olson. Such shares will vest in
equal installments on each of January 1, 2008, January 1, 2009, January 1, 2010 and December 31,
2010. The selling stockholder may resell all, a portion, or none of the shares of our common stock
from time to time to the extent such shares are vested.
Because the selling stockholder may from time to time offer all or some of the shares pursuant
to this offering, we cannot give an estimate as to the number of shares that the selling
stockholder will hold upon termination of any of these sales. In addition, the selling stockholder
may have sold, transferred or otherwise disposed of all or a portion of his shares since the date
on which it provided the information to us regarding its shares, in transactions exempt from the
registration requirements of the Securities Act.
The address of the selling stockholder is c/o of Equity One, Inc., 1600 N.E. Miami Gardens
Drive, North Miami Beach, Florida 33179.
Percent of
Number of
Number of Shares to
Common
Number of
Shares
be Beneficially
Owned if
Shares of Common
Covered by
Owned if All Shares
All Shares
Position with
Stock Beneficially
This Reoffer
Offered Hereby Are
Offered Hereby
Name of Selling Shareholder
Equity One, Inc.
Owned
(1)
Prospectus
Sold
Are Sold
(2)
Jeffrey S. Olson
(3)
Chief Executive Officer
331,619
(4)
97,166
331,619
*
*
denotes less than 1%
(1)
Beneficial owner means any person who, directly or indirectly, through any contract,
arrangement, understanding, relationship or otherwise has or shares: (i) voting power, which
includes the power to vote, or to direct the voting of, shares of our common stock; and/or
(ii) investment power, which includes the power to dispose, or to direct the disposition of,
shares of our common stock. A person is also deemed to be the beneficial owner of a security
if that person has the right to acquire beneficial ownership of such security at any time
within 60 days of May 6, 2008. In computing the number of shares beneficially owned by a
person and the percentage ownership of that person, shares of common stock subject to options
held by that person that are currently exercisable or exercisable within 60 days of May 6,
2008, are deemed outstanding. These shares are not, however, deemed outstanding for the
purposes of computing the percentage ownership of any other person.
(2)
Based on 74,015,250 shares of common stock outstanding as of April 28, 2008.
(3)
Previously served the Company in a dual capacity as its Chief Executive Officer and
President
(4)
Includes: (i) 232,330 shares of common stock that may be acquired upon the exercise
of currently exercisable stock options; (ii) 97,166 restricted shares covered by this reoffer
prospectus; and (iii) approximately 2,123 shares purchased under the Company's 2004 Employee
Stock Purchase Plan.
Pursuant to Rule 416 under the Securities Act, the registration statement of which this
prospectus is a part also covers any additional common shares which become issuable in connection
with the shares identical in the table above through any stock dividend, stock split,
recapitalization or other similar transaction effected without the receipt of consideration, which
results in an increase in the number of outstanding common shares.
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PLAN OF DISTRIBUTION
The shares of common stock covered by this reoffer prospectus are being registered by us for
the account of the selling stockholder.
The shares of common stock offered hereby may be sold from time to time directly by or on
behalf of each selling stockholder in one or more transactions on the New York Stock Exchange or on
any stock exchange on which the common stock may be listed at the time of sale, in privately
negotiated transactions, or through a combination of such methods, at market prices prevailing at
the time of sale, at prices related to such prevailing market prices, at fixed prices (which may be
changed) or at negotiated prices. The selling stockholder may sell shares through one or more
agents, brokers or dealers or directly to purchasers. Such brokers or dealers may receive
compensation in the form of commissions, discounts or concessions from the selling stockholder
and/or purchasers of the shares or both. Such compensation as to a particular broker or dealer may
be in excess of customary commissions.
In connection with their sales, a selling stockholder and any participating broker or dealer
may be deemed to be "underwriters" within the meaning of the Securities Act, and any commissions
they receive and the proceeds of any sale of shares may be deemed to be underwriting discounts and
commissions under the Securities Act.
We are bearing all costs relating to the registration of the shares of common stock. Any
commissions or other fees payable to broker-dealers in connection with any sale of the shares will
be borne by the selling stockholder or other party selling such shares. In order to comply with
certain states' securities laws, if applicable, the shares may be sold in such jurisdictions only
through registered or licensed brokers or dealers. In certain states, the shares may not be sold
unless the shares have been registered or qualified for sale in such state, or unless an exemption
from registration or qualification is available and is obtained or complied with. Sales of the
shares must also be made by the selling stockholder in compliance with all other applicable state
securities laws and regulations.
In addition to any shares sold hereunder, selling stockholder may sell shares of common stock
in compliance with Rule 144. There is no assurance that the selling stockholder will sell all or a
portion of the common stock offered hereby.
The selling stockholder may agree to indemnify any broker-dealer or agent that participates in
transactions involving sales of the shares against certain liabilities in connection with the
offering of the shares arising under the Securities Act of 1933.
We have notified the selling stockholder of the need to deliver a copy of this prospectus in
connection with any sale of the shares.
LEGAL MATTERS
The validity of the shares of common stock to be offered hereby will be passed upon for us by
Venable LLP, Baltimore, Maryland.
EXPERTS
The consolidated financial statements appearing in our Annual Report (Form 10-K) for the year
ended December 31, 2007 (including the schedules appearing therein), and the effectiveness of our
internal control over financial reporting as of December 31, 2007 have been audited by Ernst &
Young LLP, independent registered public accounting firm, as set forth in their reports thereon,
included therein, and incorporated herein by reference. Such consolidated financial statements are
incorporated herein by reference in reliance upon such reports given on the authority of such firm
as experts in accounting and auditing.
WHERE YOU CAN FIND MORE INFORMATION
We file annual, quarterly and special reports, proxy statements and other information with the
SEC. You may read and copy any document we file with the SEC at the SEC's public reference room at
100 F Street, N.E. Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further
information on the public reference room. The SEC maintains an internet site that contains reports, proxy and information
statements, and other information that we file electronically with the SEC and which are available
at the SEC's web site at: http://www.sec.gov. You can also inspect reports and other information we
file at the offices of the New York Stock Exchange, 20 Broad Street, 17th Floor, New York, New York
10005.
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You should only rely on the information incorporated by reference or provided in this reoffer
prospectus or any supplement. We have not authorized anyone else to provide you with different
information. The common stock is not being offered in any state where the offer is not permitted.
You should not assume that the information in this reoffer prospectus or any supplement is accurate
as of any date other than the date on the front of this reoffer prospectus.
PART II. INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents, which have been filed with the Securities and Exchange Commission,
are hereby incorporated by reference into this registration statement:
(a)
Our Annual Report on Form 10-K for the fiscal year ended December 31, 2007;
(b)
Our Current Reports on Form 8-K filed on January 15, 2008, March 18, 2008 and
April 4, 2008 (not including any information furnished under Items 2.02, 7.01 or 9.01
of Form 8-K, which information is not incorporated by reference herein);
(c)
Our Quarterly Report on Form 10-Q for the quarter ended March 31, 2008;
(d)
Our Proxy Statement on Schedule 14A filed on April 17, 2008; and
(e)
The description of our Common Stock contained in our Registration Statement on
Form 8-A, dated October 15, 1997 pursuant to Section 12 of the Exchange Act, and any
amendment or report filed for the purpose of updating any such description.
In addition, all documents subsequently filed by us pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act (not including any information furnished under Items 2.02, 7.01 or 9.01
of Form 8-K, which information is not incorporated by reference herein) prior to the filing of a
post-effective amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, will be deemed to be incorporated herein by
reference and to be a part of this registration statement from the date of filing of such
documents. Any statement contained in a document incorporated herein by reference will be deemed
to be modified or superseded for purposes of this registration statement to the extent that a
statement contained herein, or in a subsequently filed document incorporated herein by reference,
modifies or supersedes the statement. Any statement modified or superseded will not be deemed,
except as modified or superseded, to constitute a part of this registration statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Limitation of Liability and Indemnification of Directors and Officers.
The Maryland General Corporation Law permits a Maryland corporation to include in its charter
a provision limiting the liability of its directors and officers to the corporation and its
stockholders for money damages except for liability resulting from (a) actual receipt of an
improper benefit or profit in money, property or services or
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(b) active and deliberate dishonesty established by a final judgment as being material to the
cause of action. Our charter contains such a provision which limits such liability to the maximum
extent permitted by Maryland law. This provision does not limit our ability, or our stockholders'
ability, to obtain other relief, such as an injunction or rescission.
Our charter and bylaws authorize and obligate us, to the maximum extent permitted by Maryland
law, to indemnify and to pay or reimburse reasonable expenses in advance of final disposition of a
proceeding to any present or former director or officer who is made a party to the proceeding by
reason of his or her service in that capacity or any individual who, while serving as a director on
our board, and at our request, serves or has served another corporation, REIT, partnership, joint
venture, trust, employee benefit plan or any other enterprise as a director, officer, partner or
trustee of such corporation, REIT, partnership, joint venture, trust, employee benefit plan or
other enterprise and who is made a party to the proceeding by reason of his or her service in that
capacity. Our charter and bylaws also permit us to indemnify and advance expenses to any person
who served a predecessor to us in any of the capacities described above and to any of our employees
or agents, or employees or agents of us or a predecessor.
Maryland law requires a corporation, unless its charter provides otherwise, which our charter
does not, to indemnify a director or officer who has been successful, on the merits or otherwise,
in the defense of any proceeding to which he or she is made a party by reason of his or her service
in that capacity. Maryland law also permits a corporation to indemnify its present and former
directors and officers, among others, against judgments, penalties, fines, settlements and
reasonable expenses actually incurred by them in connection with any proceeding to which they may
be made a party by reason of their service in those or other capacities unless it is established
that the act or omission of the director or officer was material to the matter giving rise to the
proceeding and was committed in bad faith or was the result of active and deliberate dishonesty,
the director or officer actually received an improper personal benefit in money, property or
services or, in the case of any criminal proceeding, the director or officer had reasonable cause
to believe that the act or omission was unlawful. However, under Maryland law, a Maryland
corporation may not indemnify for an adverse judgment in a suit by or in the right of the
corporation or for a judgment of liability on the basis that a personal benefit was improperly
received, unless in either case a court orders indemnification and then only for expenses. In
addition, Maryland law permits a corporation to advance reasonable expenses to a director or
officer upon our receipt of a written affirmation by the director or officer of his good faith
belief that he has met the standard of conduct necessary for indemnification by us and a written
undertaking by him or on his behalf to repay the amount paid or reimbursed by us if it shall
ultimately be determined that the standard of conduct was not met.
We have entered into indemnification agreements with each member of the board of directors.
The indemnification agreements require, among other things, that we indemnify to the fullest extent
permitted by law and advance to each indemnified director all related expenses, subject to
reimbursement if it is subsequently determined that indemnification is not permitted. Under the
indemnification agreements, we must also indemnify and advance all expenses incurred by an
indemnified director seeking to enforce his rights under the indemnification agreements and may
cover executive officers and directors under our directors' and officers' liability insurance.
Although the form of indemnification agreement offers substantially the same scope of coverage
afforded by law, it provides greater assurance to directors and executive officers that
indemnification will be available, because, as a contract, it cannot be modified unilaterally in
the future by the board of directors or the stockholders to eliminate the rights it provides.
It is the position of the Securities and Exchange Commission that indemnification of directors
and officers for liabilities arising under the Securities Act is against public policy and is
unenforceable pursuant to Section 14 of the Securities Act.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits
See "Exhibit Index" on page II-1 below.
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Item 9. Undertakings
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933 (the "Securities Act");
(ii)
To reflect in the prospectus any facts or
events arising after the effective date of the registration statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the
information set forth in the registration statement. Notwithstanding
the foregoing, any increase or decrease in volume of securities offered
(if the total dollar value of securities offered would not exceed that
which was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent not more than a 20
percent change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective registration
statement;
(iii)
To include any material information with
respect to the plan of distribution not previously disclosed in the
registration statement or any material change to such information in
the registration statement;
Provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934 (the "Exchange Act") that are
incorporated by reference in this registration statement.
(2)
That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona
fide
offering thereof.
(3)
To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrant's annual report pursuant to
section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses incurred or paid by
a director, officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by the final adjudication of
such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of North Miami Beach, State of Florida on this 6
th
day of
May, 2008.
EQUITY ONE, INC.
By:
/s/ Arthur L. Gallagher
Arthur L. Gallagher
Executive Vice President and General Counsel
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POWER OF ATTORNEY
Each person whose signature appears below hereby appoints Jeffrey S. Olson and Arthur L.
Gallagher his or her true and lawful attorney-in-fact each acting alone with authority to execute
in the name of each such person, acting singly, and to file with the Securities and Exchange
Commission, together with any exhibits thereto and other documents therewith, any and all
amendments (including without limitation post-effective amendments) to this registration statement
necessary or advisable to enable the registrant to comply with the Securities Act of 1933, as
amended, and any rules, regulations and requirements of the Securities and Exchange Commission in
respect thereof, which amendments may make such other changes in the registration statement as the
aforesaid attorney-in-fact executing the same deems appropriate. Pursuant to the requirements of
the Act, this registration statement has been signed below by the following persons in the
capacities and on the dates indicated.
Signature
Title
Date
/s/ Jeffrey S. Olson
Jeffrey S. Olson
Chief Executive Officer
(Principal Executive
Officer and Director)
May 6, 2008
/s/ Thomas Caputo
Thomas Caputo
President
May 6, 2008
/s/ Gregory R. Andrews
Gregory R. Andrews
Executive Vice President and Chief Financial Officer
(Principal Accounting and Financial Officer)
May 6, 2008
/s/ Chaim Katzman
Chaim Katzman
Chairman of the Board
May 6, 2008
/s/ Noam Ben-Ozer
Noam Ben-Ozer
Director
May 6, 2008
James S. Cassel
Director
/s/ Cynthia Cohen
Cynthia Cohen
Director
May 6, 2008
/s/ Neil Flanzraich
Neil Flanzraich
Director
May 6, 2008
Nathan Hetz
Director
/s/ Peter Linneman
Peter Linneman
Director
May 6, 2008
Dori Segal
Vice Chairman of the Board
9
Table of Contents
EXHIBIT INDEX
Exhibit
Number
Description
5.1
Opinion of Venable LLP
23.1
Consent of Ernst & Young LLP
23.2
Consent of Venable LLP (contained in its opinion filed as Exhibit 5.1 hereto)
24.1
Power of Attorney (contained on the signature pages of this Registration Statement)
10