Eh, was there any modesty in that project at all? I think that, in startup terms, Blauwestad is an excellent example of the "if you build it, then they will come" attitude. The real estate version of Color.
EDIT: Oh wait, that's exactly what you meant.
Like the "Blauwestad" which failed. http://nl.wikipedia.org/wiki/Blauwestad_(project) (Dutch)