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| Equity      One, Inc                                            |   |                         |    |   |   |   |    |   |   |   |    |   |   | Exhibit      12.1 |
|-----------------------------------------------------------------|--------|------------------------------|---------|--------|--------|--------|---------|--------|--------|--------|---------|--------|--------|-------------------|
| Ratio      of Earnings to Fixed Charges                         |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |
| For      the Period Ended December 31, 2007                     |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |
| (in      thousands, except ratio computation)                   |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |
|                                                            |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |
|                                                            |   | Year      Ended December 31, |    |
|                                                            |   | 2007                         |    |   | 2006   |   |    | 2005   |   |   | 2004    |   |   | 2003              |   |
| Income      from Continuing Operations                          |   | $                            | 48,788  |   |   | $      | 52,640  |   |   | $      | 55,992  |   |   | $                 | 45,528 |   |   | $ | 31,795 |   |
|                                                            |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |   |   |   |   |   |
| Adjustments:                                                    |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |   |   |   |   |   |
| Minority      interest                                          |   |                         | 112     |   |   |   | 206     |   |   |   | 188     |   |   |              | 576 |   |   |   | 756 |   |
| Equity      in (income) / loss of unconsolidated joint ventures |   |                         | -       |   |   |   | (1,650  | )      |   |   | -       |   |   |              | - |   |   |   | - |   |
| Fixed      charges                                              |   |                         | 73,639  |   |   |   | 64,577  |   |   |   | 57,270  |   |   |              | 50,478 |   |   |   | 40,459 |   |
| Distributed      income of equity investees                     |   |                         | -       |   |   |   | 3,308   |   |   |   | (12     | )      |   |              | 3,119 |   |   |   | 7,654 |   |
| Capitalized      interest                                       |   |                         | (3,194  | )      |   |   | (5,820  | )      |   |   | (3,354  | )      |   |              | (3,204 | ) |   |   | (3,822 | ) |
| Earnings,      as defined                                       |   | $                            | 119,345 |   |   | $      | 113,261 |   |   | $      | 110,084 |   |   | $                 | 96,497 |   |   | $ | 76,842 |   |
|                                                            |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |   |   |   |   |   |
| Fixed      Charges:                                             |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |   |   |   |   |   |
| Interest      expense                                           |   | $                            | 66,663  |   |   | $      | 53,983  |   |   | $      | 47,308  |   |   | $                 | 40,987 |   |   | $ | 32,157 |   |
| Capitalized      interest                                       |   |                         | 3,194   |   |   |   | 5,820   |   |   |   | 3,354   |   |   |              | 3,204 |   |   |   | 3,822 |   |
| Amortization      of debt premiums / discounts                  |   |                         | 2,102   |   |   |   | 3,289   |   |   |   | 5,159   |   |   |              | 4,958 |   |   |   | 3,584 |   |
| Amortization      of loan fees                                  |   |                         | 1,680   |   |   |   | 1,485   |   |   |   | 1,449   |   |   |              | 1,329 |   |   |   | 896 |   |
| Fixed      Charges                                              |   | $                            | 73,639  |   |   | $      | 64,577  |   |   | $      | 57,270  |   |   | $                 | 50,478 |   |   | $ | 40,459 |   |
|                                                            |   |                         |    |   |   |   |    |   |   |   |    |   |   |              |   |   |   |   |   |   |
| Ratio      of earnings to fixed charges                         |   |                         | 1.62    |   |   |   | 1.75    |   |   |   | 1.92    |   |   |              | 1.91 |   |   |   | 1.90 |   |

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