01/07/09

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Neo spirit in Miami

Lissette Calderon shares her passion for real estate with her two daughters, Mia, right, and Aleksandra.

Business as usual for Lissette Calderon, founder and CEO of NEO, is more than just bricks and mortar; it's a true family affair.

Calderon's father, a small real estate developer, left a legacy for his daughter in the form of a passion for real estate. In turn, she is hoping to leave that same legacy for her daughters, three-year-old Mia and 21-month-old Aleksandra. Calderon's mother, Maria Calderon, serves as president of NEO Realty; her brother, Raphael, works in the construction division, and her aunt, Claudia Hessen, watches the children in a nursery adjoining Calderon's office.

Together, they form a company that is remaking the Miami waterfront. Literally. NEO's Loft condos overlooking the Miami River have been a hot commodity for young professionals seeking an urban lifestyle. Two new projects are expanding the range of options available.

Calderon's route to becoming a real estate developer involved a detour through Wall Street.

After graduating cum laude from the Wharton School of Business at the University of Pennsylvania, she went to seek her fortune and her future on Wall Street where she worked as a financial analyst. But she had no passion for finance and came home to Miami to enter the male-dominated field of real estate development.

"I realized I've always loved real estate; I grew up around it," said Calderon. "My father died while I was in high school, so I shut the door on real estate. At Wharton, I took real estate classes for fun and always thought of it as a hobby. When you get to work at your hobby, it's a blessing. When you work at what you love, you don't work a day in your life."

For two years, Calderon learned the real estate development business while working for The Related Group, under the tutelage of CEO Jorge Perez. People often told Calderon the development business was no place for women, but she persevered.

Calderon learned to love city living while in Philadelphia and New York City. Upon returning to Miami, she was surprised that there was no urban lifestyle focused on attracting young urban professionals. Having seen vibrant cities around the world, Calderon immediately realized what was missing in Miami.

Her interest in urban renewal led Calderon to the Miami River, where she saw an opportunity to bring her passion for city life to her native Miami.

"I couldn't believe this waterfront gem was being ignored," noted Calderon.

In 1999, Calderon founded NEO and started the renaissance along the Miami River with the innovative NEO Lofts. At age 28, she introduced Manhattan-style loft living to the often-overlooked Miami River. By doing so, this young developer created a niche in which she continues to prosper.

The company followed Lofts with NEO Vertika on the south bank of the river in Brickell Village. Then came Wind and CIMA, both located in downtown Miami's only gated community, the 13.5-acre River Front on the north bank of the river.

Calderon's goal with each project is to create a community, instead of merely a building. Features and amenities include dog parks, gyms, pools and enough public space to ensure residents will interact and get to know each other.

"These projects are more than just stucco and steel," said Calderon. "We want to get people out of their units and create a neighborhood. When you see moms with strollers, you know you've made a difference."

Wind — a 41-story, 489-unit condominium — is sold out and in the midst of closings. A mixture of domestic and international residents will occupy the building.

The 52-story, 507-unit CIMA, located in a parcel next to Wind, is scheduled for completion in 2010. The project is doing well in pre-sales, primarily attracting buyers from Latin America and Europe, thanks to a strong euro, Calderon said, noting that Europeans see Miami as the American Riviera.

"People will always need a roof over their heads," explained Calderon. "Regardless of market conditions, we are part of the community and want to build projects that make the city proud."

For the future, Calderon is looking for other opportunities in Miami and beyond, with Calderon confirming NEO is exploring the international marketplace.

As for family life, Calderon seems to have found the right balance. The children come to the office after pre-school. Calderon's mother, Maria, is happy to spend time with them without giving up her career. In fact, both women can always find time for the girls during the workday.

"I hope they grow up to be strong, independent women who know they can achieve whatever they want," said Calderon. "If I can teach them they can be a CEO and a mom at the same time, it will set the standard for them. To all the nay-sayers, I know I'm a great mother and CEO. In fact, I'm better at both because of the other part of my life."

Calderon knew she wanted it all and figured out a way to have it.

"It's one thing to have a dream, it's another to have others share that dream," she said. "I have to pinch myself every day."