Less than two decades ago, a golf course was a must have for every real estate developer that sought to raise the value of their property. Nevertheless, their proliferation in almost every neighborhood has reduced their significance in the market. But Crystal Lagoons, a Miami Based Company, seeks to replace this golf course saturated market with a more interesting feature, the man-made lakes.
This idea seems to have been well adopted by some of the leading real estate moguls. For instance, earlier in the year, Steve Wynn expressed plans to convert the more than 38-acre golf course behind his two luxury hotels in Las Vegas into a man-made lake using Crystal Lagoon’s technology. This ambitious plan also involves the erection of a 10-story mountain at the middle of the lagoon to be used as a launching base for nightly fireworks.
Turnberry Associates is the latest addition to the list of large companies that have announced plans to employ Crystal lagoon’s technology. Just recently, Jackie Soffer, the company’s co-chairman and also wife of real estate developer, Craig Robins, hinted that the company’s wish is to build two 10-acre pools in their next mega mixed-use property project in Miami. Jackie Soffer is optimistic that the pools will attract luxury home buyers seeking change in the golf course saturated market.
Crystal Lagoons was established about a decade ago by a bio-chemist cum real estate developer, Fernando Fischmann. According to Fischmann, the idea was as a result of frustration by the Pacific coastlines that rendered beaches useless as the constant rough tides turned swimming to a dangerous affair. Initially, Fernando hoped to create an ocean front to his Chilean community. However, realizing the viability of the project, he decided to commercialize it effectively bringing beaches and oceanic feel to the cities.
So far the company has built over 60 lagoons all over the world. It is important to note the appreciation the technology has received considering the huge number of deals the company is closing even at the relatively huge costs of $250,000 per acre of the man-made pool. Currently, the company reported that it has more than 250 such projects underway with more than 40 in the U.S alone.
Fischmann is also seeking to expand this project to new markets, especially hoping to reach out to the power companies. He hopes to have them on board by adopting the Lakes as a source of cooling water from the turbines while using the energy generated to desalinate the natural water bodies. With a projected demand of over 14,000 artificial lakes around the world, one might add that the sky remains the limit for Fischmann and company.