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The Million-Dollar Pool Felicia Paik, Forbes.com
These days custom pools really let homeowners
splash out.
Last summer Matthew J. Cody, a former
general partner of the market maker firm Spear, Leeds &
Kellogg, and his wife commissioned a 2,000-square-foot pool for their
home in the Long Island town of Belle Terre. Cody, whose company was
purchased last year by Goldman Sachs (nyse: GS
- news
- people)
for $6.5 billion, wanted a pool that would conjure up images of the lost
island of Atlantis. Their pool, which holds 69,000 gallons of water, has
cascading waterfalls, fountains, a 14-foot-diameter island in the center,
sculpted fish that spit out water, hand-painted iron gates and an 18-foot
bridge over the pool. The price tag? $1.7 million.
While
this amount may seem all wet to some people, the Codys aren't the only
people who are spending the kind of money usually reserved for home
purchases on elaborate swimming pools to suit their fanciful whims or
entertaining needs. Those in the pool business say they are being
commissioned to build pools with limestone, 24-carat gold, imported tiles,
coquina and much more. As one Palo Alto, Calif., homeowner, Dieter
Mees, says, "I didn't want anything that somebody else already
had."
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Ex-Baywatch beauty Anderson can
practice her lifeguard techniques in her custom pool. |
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construction of swimming pools is big business. According to the National
Spa & Pool Institute, it's a $9 billion industry, a 70% increase from
1998, which is in keeping with the steady rise of disposable income that
has allowed for such extras as swimming pools. In 1998, there were 7
million residential pools across the country. Since then, the trade
association estimates another 500,000 have been added.
Swimming pool designers say their high-end
clients are looking at their pools as a water element on their properties
rather than just a place to take a dip. The outside environment is
considered another room or an extension of the house. "People are putting
in waterfalls, cook centers, koi ponds and secret gardens that will
complement their pools,'' says Lee Shelbourne, a Los Angeles landscape
architect whose eclectic celebrity client roster includes such names as
actor Jack Lemmon, singer Lou Rawls and former Baywatch star Pamela
Anderson.
The
man who built the Codys' pool, Southampton, N.Y.-based John
Tortorella, says his clients are coming to him asking for thematic
pools. He has designs for Roman and Greek empire pools, which feature
limestone columns and aqueducts, as well as ones with Aztec, Stonehenge
and Egyptian motifs.
Certainly, some people still want to swim in
their pools, not just look at them. Jonathan Deitcher commissioned
landscape architect Mario Nievera to design a pool for his Palm
Beach residence that would allow for swimming laps. "But he didn't want a
high school gymnasium pool,'' says Nievera, whose clients have included
the Lauder family, socialite Terry Allen Kramer, and Michael Ainsley,
former chief executive of Sotheby's (nyse: BID
- news
- people).
At a
cost of $150,000, Nievera built Deitcher a 75-foot pool where the water is
deep on both ends to allow for flip turns. But it's not a typical
rectangular pool--it's narrower in some sections and wider in others.
Along the pool's perimeter are garden beds. "It's the perfect combination
of form and function, which is what successful design is,'' says Deitcher,
a director with Montreal-based RBC Dominion Securities, the investment arm
of the Royal Bank of Canada, who spends his winters in Palm
Beach.
Mees, the Palo Alto homeowner who is a
businessman with interests in automotive dealerships and land development,
wanted "something unusual and classical.''
Mees,
who worked with Shelbourne, the Los Angeles landscape architect, took his
inspiration from the indoor pool at Hearst Castle and imported cobalt blue
tiles with 24-carat gold inlays from the Italian island of Murano. The
tiles alone cost $80,000, while the tab for the entire pool ran upwards of
$350,000. The pool area also feature Corinthian columns and an elaborate
gazebo with a built-in iron table, heaters, lighting and
speakers.
However, Mees says his pool is not just for
show. "I go swimming at least three times a week,'' he says. "And I'm
German, so the colder the water, the better.''
Pamela Anderson image by
Newsmakers
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