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In 1987, fresh out of law
school, Craig Robins plunked down $20,000 for a project to restore two
crumbling art deco buildings in the seedy southern end of Miami Beach.
His timing was perfect and over the ensuing years Robins's Dacra
Development Corp. helped transform South Beach into one of the world's
best-known tourist destinations. Now the 39-year-old real-estate mogul
wants to establish what he calls the ultimate "world-class village" on a
tiny island north of Ocean Drive.
The $225 million Aqua
planned community is Robins's most ambitious project yet, a bet that the
well-heeled will prefer a neighborhood with modernist architecture over
a high-rise tower. "Aqua takes the high-rise and spreads it out
horizontally," says Robins.
So far, so good. Nearly
half the 46 town houses and 105 condo units have been sold in just under
12 months, despite price tags that start at $500,000 and rise to $7
million. Robins is an unabashed proponent of New Urbanism, a movement
founded on the principle that good design makes for good social vibes.
Buyers also see Aqua as a safe place to put their money. "I trust real
estate as an investment more than I trust the market," says Marlene
Green, a Chicago consultant who¹s bought one of the units.
Robins sees New Urbanism
as the Next Big Thing in neighborhood design. In a nutshell, Aqua
combines the sidewalks, front porches and pocket-size parks of
pioneering New Urbanist towns like Celebration, Fla., with midrise condo
buildings created by leading modernist architects. The result is a
low-density complex whose highest building has 11 stories. To tart up
the village setting, Robins commissioned acclaimed artists Richard
Tuttle and Guillermo Kuitca to produce five paintings and a giant tile
mural that will adorn a wall located just above a small pool.
If current sales rates
hold up, Robins expects to sell all of Aqua's units by a year from now
its new residents in 2004.
A fit-looking father of
three who wears designer T- shirts to work, Robins exudes the excitement
of an art collector who's about to unveil a highly coveted Picasso
piece. "We believe we're creating an asset for the city by combining
art, architecture, design and good planning," he says. "Yeah, we're
building homes, but we see it as a lot more than just that." The future
residents of Aqua hope he's right. |
