**Exhibit 21**Listing of parent and subsidiaries wholly owned, unless otherwise noted, by Florida EastCoast Industries, Inc. as of December 31, 2006:   **Name of Subsidiary** **State of Incorporation/Organization**FECI Company Florida   Florida East Coast Railway, LLC Florida(100% owned by FECI Company)     Railroad Track Construction Corporation Florida(100% owned by Florida East Coast Railway)     Florida East Coast Deliveries, Inc. Florida(100% owned by Florida East Coast Railway)     FECR Land Holding, LLC Florida(100% owned by Florida East Coast Railway)     BN Expansion, LLC Florida(100% owned by FECR Land Holding, LLC)     FEC Highway Services, Inc. Florida(100% owned by FECI Company)     Florida Express Logistics, Inc. Florida(100% owned by FEC Highway Services, Inc.)     Flagler Development Company, LLC Florida(100% owned by FECI Company)     Gran Central — Deerwood North, LLC Delaware(100% owned by Flagler Development Company)     Beacon Station 22, 23 and 24 Limited Partnership Delaware(100% owned by Flagler Development Company)     Flagler Transportation Services, Inc. Florida(100% owned by FECI Company)     Flagler Development Realty, LLC Florida(100% owned by Flagler Development Company)     GCC Beacon 22, 23 & 24, LLC Florida(100% owned by Flagler Development Company)     FDC Land Holdings, LLC Florida(100% owned by Flagler Development Company)     Flagler Boca 54, LLC Florida(100% owned by Flagler Development Company)     Flagler Commons, LLC Florida(100% owned by Flagler Development Company)  

 
**Exhibit 21 (continued)**   **Name of Subsidiary** **State of Incorporation/Organization**Atlas II, LLC Florida(100% owned by Flagler Commons, LLC)     Atlas III, LLC Florida(100% owned by Flagler Commons, LLC)     Flagler Doral, LLC Florida(100% owned by Flagler Development Company)     CodinaDoral, Ltd. Florida(50% owned by Flagler Doral, LLC)     FEC Lakes, LLC Florida   Sevilla Building, Inc. Florida   SevillaBuilding, Ltd. Floridaa partnership with Sevilla Building, Inc.  ( 0.1% owned by Sevilla Building, Inc., general partner)  (99.9% owned by the Company, limited partner)     Beacon Countyline, LLC Florida   Flagler Development Group, Inc. Florida   Flagler Construction Corporation Florida(100% owned by Flagler Development Group, Inc.)     Flagler Real Estate Development Corporation Florida(100% owned by Flagler Development Group, Inc.)     Flagler Real Estate Services, Inc. Florida(100% owned by Flagler Development Group, Inc.)     C&S Real Estate Development Corporation Florida(100% owned by Flagler Real Estate Development Corporation)     CM Lejeune, Inc. Florida(GeneralPartner of CM Lejeune, LLLP)     C/CM Lejeune, Inc. Florida(GeneralPartner of C/CM Lejeune, Ltd.)     C/CM Lejeune, Ltd. Florida   CM Lejeune, LLLP Delawarea partnership with CM Lejeune, Inc.  ( 0.5% owned by CM Lejeune, Inc., general partner)  (99.5% owned by C/CM Lejeune, Ltd., limited partner)     Codina Residential Inc. Florida   Codina Residential Ltd. Floridaa limited partnership with Codina Residential Inc.  ( 0.1% owned by Codina Residential, Inc., general partner)  (99.9% owned by the Company, limited partner)   Codina Fairfield LLC Florida(100% ownedby Codina Residential Ltd.)  

 
**Exhibit 21 (continued)**   **Name of Subsidiary** **State of Incorporation/Organization**Boca 54 Land Associates, LLC Delaware(20% interest owned by Flagler Boca 54, LLC)     Beacon Village, LLC Delaware(50% owned by FEC Lakes, LLC)     AMB Codina Beacon Lakes, LLC Delaware(21.225% owned by FEC Lakes, LLC)