Time Equities to Donate Shelter

New York-based Time Equities, an investor in real estate, development, and property management, will donate shelter to at least 200 people left homeless by Hurricane Katrina in its vacant apartments in the Dallas-Fort Worth area.Francis Greenburger, chief executive officer of Time Equities, said the victims will receive shelter with no rent or utility payments for three months while they make plans to rebuild their lives. Thousands of Louisiana residents recently fled to Texas to escape Katrina's wrath. "It might be easier to simply donate money, but we in the real estate industry have something tangible to offer -- shelter, and we should do all we can to help those left homeless by the hurricane," said Mr. Greenburger. The company will work with the local Dallas chapter of the American Red Cross and other relief organizations to shelter the displaced in two apartment complexes in Fort Worth and Mesquite, a suburb of Dallas.