Russia off the Coast of Russia

They say that imitation is the sincerest form of flattery. Well, if that’s true, Russia should be really honored…by themselves. Turns out, while you were sipping lattés and mojitos this weekend, Dutch architect Erick van Egeraat was wrapping up outlined plans for a new 350-acre artificial island in the shape of, well, Russia. Dubai should also be flattered too, as they are the ones pioneering their way through uniquely shaped artificial islands.

But this island, aptly named Federation Island, has something that Dubai can’t get their hands on for a while to come: Olympic venues as their next-door neighbor. Its perfect timing for Federation Island to spring up off the Black Sea coast, as the 2014 Olympics will be held across the pond in Sochi. By then, Egeraat and his team plan to have enough apartments and villas to house 25,000 people, along with 2 marinas, 3 religious centers, roads, parks and even rivers that will mimic some of Russia’s own major river landmarks.

At a modest cost of only $6.2 billion ($4.4 billion euros), the project will get under way next year led by development group M-Industry. And according to this Saint Petersburg-based team, money is not an issue-they claim to have all their funding in place with all lights green to go. Stimulation for this venture is coming from all sides, with the Russian state investing billions to update the Soviet-area infrastructure, as well as a rise in property value of 40% in nearby Sochi after being announced the Olympic games host.

Via Luxist