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Art Basel Adds To The Skyline — And The Bottom Line

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Since its launch in Miami in 2002, Art Basel has been attracting people from all over the world who appreciate innovation and creativity.

Today, satellite events have spread to Wynwood, Midtown, downtown, Mid-Beach and North Beach, and last year about 75,000 people attended the main fair. The first Basel fair featured 160 galleries from 23 countries, attracted 30,000 visitors and has grown and grown and grown — much like our skyline and real-estate industry. The growth and popularity of the event have bolstered the tourism industry and made us one of the fastest emerging cultural epicenters of the world.

For one week in December, all eyes started looking to Miami, including those of some of the world’s greatest architects and developers. Today, they are creating a skyline that is second to none, while Basel brings buyers appreciative of artistic creations. The burgeoning love affair between Miami and art can be evidenced by two recently announced museums: the Institute of Contemporary Art, Miami, the brainchild of Norman and Irma Braman, and the Latin American Art Museum by Gary Nader. Miami was largely a blank canvas in 2002, and so many have seized the opportunity to fill the space with remarkable buildings that are works of art themselves.

In downtown Miami, Zaha Hadid paired with developers Louis Birdman and Gregg Covin for the grandiose 1000 Museum. What was once the famous Bal Harbour Club will become the spectacular, all-new Oceana Bal Harbour, thanks to Italian architect and interior designer Piero Lissoni and developer Consultatio USA. And then there is Herzog & de Meuron, Richard Meier, Norman Foster and Rem Koolhaas, among the many other great names, with others soon to be announced.

Art Basel is certainly a time for businesses to shine. It provides an instant injection of funds into the economy, and the effects of the fair linger long after it leaves town. This is certainly the case for the real-estate industry, which has benefitted greatly from the influx of discerning art lovers. Amid the week of amazing art and all the accompanying events, the glitterati look up and see Miami as a wonderful place to purchase property. And they have many to choose from, for a relatively affordable budget. All are designed by local and international architectural greats who provide a perfect place to display a new piece or two.

Daniel De La Vega, President of One Sotheby's International Realty

Daniel De La Vega, President of One Sotheby’s International Realty

The past week has seen traffic gridlock, long lines and a shortage of restaurant reservations. But as an enthusiastic collector of Latin American art and a member of the Photography Committee at the Solomon R. Guggenheim Museum, Daniel De La Vega, President of One Sotheby’s International Realty, will be sad to see the sun set on the event so soon. Art Basel will continue to play an important role in the growth of South Florida’s real-estate industry and the development of greater Miami as a whole. As a native Miamian, Mr. De La Vega is grateful for how this fair has moved the city forward in so many ways. As the tents come down and the works are carefully packed away, Miamians can still admire innovative and creative pieces all year-round.

All you have to do is look up to the skyline and thank the increased business to the bottom lines.

 

Source: Miami Herald

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How Art And Real Estate Are Coming Together

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Million-dollar Koons sculptures and designs by Schnabel—it’s all part of the collaboration between art and Miami’s expanding real estate boom.

The art scene in Miami continues to grow at an extraordinary pace, so much so that for many residents living in some of the most high-end buildings in the world, a trip to the museum isn’t always necessary for a daily dose of creativity. Developers are engaging major artists in large-scale collaborations, raising the aesthetic bar at their latest projects and putting installations and one-of-a-kind pieces on display for inhabitants to enjoy.

In these new condo towers, art is a fundamental aspect of the entire project, and not just a colorful wall-hanging picked up at moment’s notice because it matched the drapes; these are big new vertical Xanadus dripping in art. Everyone is trying to outdo one another—Faena House, developed by Alan Faena, will house the Faena Bazaar and an artist-in-residence center by Rem Koolhaas and OMA, while Oceana Bal Harbour will feature two larger-than-life works by Jeff Koons—Pluto and Proserpina and Ballerina, purchased in 2013 for $14 million—both of which will be shared and owned by building tenants. 250 Wynwood—an 11-unit condo developed by Fortis, will feature terrace overhangs decorated with curated graffiti. Not far away, the Filling Station Lofts in Wynwood has enlisted local artist Daniel Fila to create unique works of art for each individual floor, as well as to consult on the building’s aesthetics.

Rendering of the entrance of Muse Residences in Sunny Isles Beach. The building will feature custom artworks by Helidon Xhixha in every unit

Rendering of entrance of Muse Residences in Sunny Isles Beach. Building will feature custom artworks by Helidon Xhixha in every unit

Up in Sunny Isles Beach, Property Markets Group’s Muse Residences—47 stories with 68 units—will deliver a custom $200,000 piece of art by Helidon Xhixha, created after consultation with the owner, into every $4 million-and-up unit. CMC Group is developing Brickell Flatiron on a wedge-shaped site at the convergence of South Miami Avenue and Southeast First Avenue. Besides its shape, the Brickell Flatiron building’s single most distinctive feature is an extensive and very public collaboration with the artist Julian Schnabel. CMC has Schnabel creating the spaces for the general public: the temporary sales center, the lobby, and the exterior, among others. Although not particularly huge, the sales center, built in adjacent Flatiron Park, is as lavish as Miami sales centers get (and that’s saying a lot). Along with filling the interior with his art, Schnabel has modeled the space after his famed home in New York. It’s Miami’s own miniature Palazzo Chupi, and a singular art installation in itself—perhaps Miami’s first “museum-quality” condominium sales center. And if that’s not enough, CMC is sponsoring an actual museum exhibition of Schnabel’s work, at Fort Lauderdale’s NSU Museum of Art, curated by the incomparable Bonnie Clearwater. “The goal is to involve the public,” says Vanessa Grout, president of CMC Real Estate.

Artist Julian Schnabel at work on the Brickell Flatiron Sales and Design Gallery

Artist Julian Schnabel at work on the Brickell Flatiron Sales and Design Gallery

Over at The Related Group, Art Director Patricia Hanna is tasked with creating the art collections that adorn every luxury condominium project that the company builds. And in Miami, they’re all considered luxury. Hanna and Related head Jorge Pérez have fostered a partnership with the National YoungArts Foundation that should blossom in all sorts of interesting ways. YoungArts scholarship recipients will have their work displayed within Related projects, including at the sculpture garden at Icon Bay, a condominium tower near the new YoungArts campus. And an artists-in-residency program will house at least three artists a year in Related condos. Other Related buildings with their own collections include One Ocean, which is currently under construction; Baltus House, which recently topped off; Brickell Heights and SLS Brickell, both of which broke ground earlier this year; and SLS Lux, which features a giant Botero statue in the sales center courtyard.

These developers are obviously considering way more than a return on investment when deciding to do “art.” They’re doing it because it’s good for Miami, but they’re only able to do it because in this economy it’s finally cost effective. “Fortunately Miami is experiencing a newly popular alignment between artistic ambition and financial incentives,” says Grout. “Private money is investing in art, which directly impacts the public good while providing a good return on investment.” Are developers doing it for the money? Not necessarily, but they couldn’t do all this without it.

 

Source: OceanDrive

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