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Part entrepreneur, part urban-culture clairvoyant, part developer (though he dislikes the moniker), the Argentine-born Alan Faena is best known for identifying a moribund quadrant of Buenos Aires at the height of the country’s recession and turning it into what is today one of the capital’s most vibrant neighbourhoods. In 2002, Puerto Madero was all dirt lots and disused grain silos; today the Faena District, as it’s now known, is home to a five-star hotel (Faena Universe, which opened in 2006), the Faena Art Centre, a nexus for performance and exposition, and Faena Aleph, an ultra-contemporary luxury residential tower designed by Foster + Partners (its first completed building in South America) – all set within a couple of blocks of each other.

Faena’s plans in Miami Beach are even more wide-reaching, and involve many of the same players he worked with in Buenos Aires.

Read the whole story at How To Spend It