In a large bowl, combine water, yeast and olive oil and let sit until foamy, about 10 minutes. Add in 2½ cups flour and salt, stir the dough with a spatula until its combined, but still sticky.
Using your hands, form the dough into a ball place it on a floured surface, add the remaining ½ cup of flour to the dough and knead it for a few minutes.
Rub the same bowl with olive oil, then place the dough inside, cover with a towel and place in a warm place to rise for about 1-1½ hours.
After the dough has risen, punch it down and place it back on the floured surface.
Using a rolling pin, form it into your desired shape that would match the pizza pan you will be using for baking.
If using a pizza stone, preheat it in a very hot 500F oven for at least 45 minutes. I do not own a pizza stone, so I baked the pizza on a pizza pan at 425F.
Assemble:
Once you rolled your pizza, if you are using a pizza pan like I did, transfer the pie now to the pan and start assembling it.
If using a pizza stone, place the pie on cardboard or pizza peel that was well dusted with semolina flour or corn meal.
Pour the pizza sauce in the center, using a spoon spread it around leaving 1 inch at the edges. Top with sliced heirloom tomatoes, followed by mozzarella cheese and black olives.
Gently slide the pie on the preheated pizza stone in a hot 500 - 525 degree or more oven, and bake for 5 to 7 minutes or until golden brown on the edges.
If using a pizza pan like I did, transfer the pan to the oven and bake for 10-12 minutes or until golden brown on the edges.
Remove from the oven and garnish with fresh basil. Allow the pizza to rest for a few minutes before serving for the cheese to set.
Notes
The preparation time does not include the rest period for the dough, 2 hours.