Take the Faena Hotel in Buenos Aires, for instance. OMG! The Faena Hotel and Universe, as it is named, is a five star hotel in the Puerto Madero section of Buenos Aires.
The lot where the hotel is today situated was originally purchased in 1902 by Bunge y Born, the leading local agribusiness firm. They had one of the largest wheat mills in the country built there and with it, established Molinos Río de la Plata (later a leader in the local retail foods market).
The structure measured 25,000 m2 (270,000 ft2) in indoor area and was built with bricks imported from Manchester. The development of a new port further north after 1911 led to the original docklands' obsolescence, however, and by 1998, the shuttered El Porteño building (as the historic mill was known locally) had been slated for demolition.
Saved from the wrecking ball by local cultural patrimony associations, the building as purchased by local fashion designer Alan Faena, who after a US$40 million investment, opened the Faena Hotel+Universe in October 2004.
Refurbished and decorated by designer Philippe Starck, the hotel includes 105 rooms and is adjacent to an apartment complex of 83 residences (the "Universe"). The hotel includes the rustic French El Mercado restaurant, a café, wine cellar, fashion boutique, cabaret and spa. Faena is currently working with architect Norman Foster to create a "Faena Art District," with the Hotel+Universe as its core. The completed development will include the modernist El Aleph complex and Los Molinos (residences built in a nearby, former silo).