Hampton Style - August 1, 2008 - The New Billionaire's Row

Journeying to Long Island's East End proved to be a longer and more arduous trip than the eight enterprising young men expected. Upon arriving, however, in this area rich with resources and opportunity, it took little time for the group to stake a claim. Determined, brave and possessing an impressive range of skills, they had come to play a big-risk, high-return game. And as witnessed by the generations of people who have lined their pockets in the Hamptons, this is a formidable place to roll the dice.

So, what makes this group of swashbucklers so different from the myriad of hedge-funders and titans that have washed up on these shores? Well, for one thing, they were the first. It was 1640 when this group came ashore, literally, at Conscience Point in North Sea, with one women and a child in tow, to settle this community after a difficult journey from Massachusetts. Very much like our current crop of ambitious speculators, these 17th-century entrepreneurs were scouting for prime real estate and looking to carve out a profitable new existence.

Their first settlement area was Olde Towne, just steps from the Atlantic Ocean, near Southampton Hospital and what is today's Old Town Pond. Eight years after their arrival, the burgeoning colony shifted its town center to encompass land surrounding Lake Agawam, nearer the present-day Main Street. In the process, Olde Towne became a prime grazing pasture. More than 200 years later, with the boom-time of railroads and industry, the formerly sleepy farming community of Southampton updated its image to that of a "summer colony." This was to eventually become a village of sophisticated leisure and society, very much removed from its staunch agrarian roots. This new identity manifested itself in new business and social mores, ones that revolved around wealth, refinement and gentlemanly sports. And while the town around the original settlement plot grew into a sophisticated resort, Olde Towne's 50 acres remained unoccupied.

On a sunny, breezy Saturday in early spring of this year, a piece of earth-lifting machinery looks like a Tonka toy, and a mountain of gravel just an anthill, set against the surreal backdrop of a massive construction site on Wickapogue Road. After more than 365 years, a period during which time seemed to stall, there were signs of activity at Olde Towne. A man is leaping over pools of mud, like Baryshnikov in blue jeans, and waving his arms wildly, directing a guy in a Stetson operating the crane, as well as workers on the ground who resemble rodeo riders. The conductor of this impressive undertaking, Bob "H.B." Gianos, is leading his Texas Tree Team, Houston's Davey Tree Expert Company-arguably the best in the business.

Once upon a time, Gianos imagined a fairy-tale setting in the Hamptons. It would have an enchanted forest, fields of wildflowers and, of course, a castle. Make that 10 castles. It would occupy magestic prime property in Southampton, a stone's throw from the sea. It would be a 21st-century version of the 17th-century Olde Towne, the original home of the town's pioneers.

Those original eight settlers secured the land in 1640 via a very loose deed with the Shinnecock Indians, after permission from the Earl of Stirling who acquired it from King Charles I. No money changed hands in their transaction-some three bushels of corn and 16 coats did-but to put the trade terms of the day in perspective, the Earl of Stirling sold Nantucket Island shortly thereafter for thirty pounds sterling and two beaver skins.

Even in his fertile imagination, Gianos didn't expect another Olde Towne to materialize by magic. He's always been a proponent of education, discipline and hard work, which seems to have paid off because at present, he's healthy, wealthy and wise. Plus, he makes it all look very easy. But there's perception and then there's reality...

The real Horatio Alger, original author of the "American Dream," was the son of a Unitarian minister, went to Harvard, and was never poor. The real Bobby Gianos was the son of a Greek immigrant, went to Cornell and was never rich. Bobby-who lost his father when he was 12-attended college on a combination of scholarships, student loans and part-time jobs, one of which included mucking out the horse stalls in a riding stable. He graduated from college and hit the ground running, first into banking and then into building, as a protégé of real-estate developer Steve Ross. But after 20 years of ambitious urban projects, he went looking for his own showpiece. He unearthed Olde Towne.

Gianos relishes a challenge, but in the beginning he wasn't fully prepared to shed sweat and tears and $33.5 million on the project. The piece of land he was eyeing was property belonging to Anna Fiore, whose family had owned the land for decades. What she wanted was a considerable price and a structured arrangement that would include legacy lots for her three children. She considered and rejected many offers but Gianos prevailed. He made his first offer of around $15 million in 1999, and as Hunter S. Thompson put it: You buy your ticket, you take the ride. Six years and another $18.5 million, the deal was done.

Of course, it wouldn't be a fairy tale without a dragon or two, and the ones to slay in this story were some vocal old-guard opposition. They objected to the scope of the project, the prospect of pesky billionaires in the backyard, disruption in general, and development in particular. But now some of the biggest critics have become Gianos supporters, realizing he wishes to be a custodian of the past rather than a desecrator. The property could have been broken into 16 (or more) lots, but Gianos's Olde Towne consists of seven lots for sale and three that already belong to the Fiore siblings. The residential-project/environmental-impact statement Gianos filed reflected 40 percent less density than allowed by law and 35 percent more open space than the legal requirement-which is zero.

Gianos also donated five-and-a-half acres of native woodlands to the adjacent nature preserve and entered into a joint venture with the Community Preservation Fund to buy another parcel and convert it into a public park and meadows. However, what makes the development particularly interesting is not only the historical significance of the site, but the generous original proportions Gianos has maintained.

The new Olde Towne adheres to the colony's charter "The Disposall of the Vessell," signed in 1640. The charter granted each founding family a four-acre land plot on which to construct their home. Membership in today's Olde Towne is limited to seven four-acre estate lots. And the surrounding areas are divided thusly:

The Meadows, a parcel of almost eight acres at Wickapogue and Old Town roads, are to be filled with native grasses, wildflowers, shrubs and mature specimen trees, recalling the original pastures.

The Green, as in other historical villages, is a large central lawn dotted with oak trees. And what will distinguish the Olde Towne Green is the promise of beauty created by a double allée of London plane trees at the Wickapogue Road entrance.

The Lanes, Olde Towne's internal byways, planted on either side with mature trees and hedges, are fashioned after the timeless British one-rod road-a width large enough to accommodate the passage of two carriages-or two Jaguar XJs.

The 10-acre Fowler Nature Preserve, owned by the Village of Southampton on the eastern border of Olde Towne, will enhance the privacy of the development and expand its vistas.

After researching the "summer cottage" golden age of local architecture, including houses designed by Stanford White, John Russell Pope, Grosvenor Atterbury and other American architects of note, Gianos established three paradigms for the estate's design guidelines: Shingle-Style, English Country and Colonial Revival.

Gianos's commitment to authenticity also extends to that of becoming an obsessive botanist. His desire to re-create the land's original natural setting has seen him undertake the largest mature tree installation ever recorded. The ever-ambitious Gianos himself admits he had no idea what he was getting into when he started transplanting trees-the total will tally 440 by the time he's finished. The varieties include American beech, English oak, silver linden and tulip poplar-many more than 70 feet tall, more than 50,000 pounds and up to 60 years old. Most come from New Jersey, arriving strapped to long trailers, after being hauled across Staten Island and along the L.I.E. The trips are difficult and some of the trees don't travel well. The unfortunate specimen are either returned or sent to tree heaven by way of the chipper. If the journey seems mind-boggling, their planting is impossible to observe without being awestruck.

Which brings us back to that Saturday spring morning, and the planting of five handsome London planes, the initial trees that will lead you down the gracious double allée entrance. When complete, and in bloom, the allée will create a cathedral-like canopy to shade the anointed. Each tree costs at least $20,000 to purchase, uproot, transport and relocate. Gianos tries to orchestrate the positioning of every single one. He was planning a few days off, though, to attend a wedding: his own.

As the crane uses its canvas hammock to swing a tree-so it can be positioned above a hole and eventually lowered into it, then secured with an elaborate series of straps-Gianos, a compact man who looks younger than his 48 years, pivots, leaps and circumvents the spot, shouting instructions: "Up! Stop! A little to the left! No! It's tilted!" Everyone around feels free to chime in; and there is a growing cast of spectators. The arborist, surveyor, tree crew, construction manager and his 10-year-old son, Max. Plus Howie and Tory Masters, neighbors who brought along a curator from the Cornell Arboretum.

Eventually, Olde Towne will be maintained as a private association, with similar specific guidelines to the much larger Georgica Association, as well as the same sense of stepping back in time.

The entrance fee to Bobby G's Utopia may raise an eyebrow, or two. But why not slip on some wingtips, and put yourself in the shoes of that old robber baron Henry Ford, who purchased a property in Southampton for his daughter-or that old bootlegger Joe Kennedy, who also bought a house in Southampton for his daughter.

The current breed of moguls and gamblers have daughters, too. They also have hundreds of millions of dollars, and for the chance to start carving their piece of posterity, the price may not seem that steep-Gianos has already had two separate offers from buyers wanting to purchase the entire development.

After all, Olde Towne's creator may be rebuilding a gracious piece of the past, but the ambitions of young men have always remained intact.