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South Florida has a sparkling new jewelry hub.
The Time Century Jewelry Center, a former downtown Miami mall, was acquired in 2018 by New York-based developer Time Century Holdings, which is turning the property into a jewelry and gem exchange offering retail space, sales wholesale and office space in a $ 50 million renovation.
Last month, company founder Yair Levy secured a $ 23.6 million construction loan from the City National Bank of Florida for the first phase of the renovation, which includes retail space remodeling. wholesale and retail. The second phase will see the four floors of planned offices redeveloped. When complete (in 2022), the 225,000 square foot property at 1 NE First St. will occupy an entire city block.
Now, the tenacious real estate developer is looking to add a jewelry design school to the rental of the property, likely to bolster its future reputation as the design epicenter.
The company said in a statement yesterday that it was prepared to give a jewelry design school a “significant” rent discount. Levy said in the same statement, “I am ready to lower the rent and provide additional incentives to the right school because I know this institution will energize the jewelry district and create great synergy with the colleges around us. and tenants of premier jewelers. at Time Century. The school could occupy an area ranging from 5,000 to 10,000 square feet.
The developer plans to contact the following institutions with the idea of installing a possible satellite location in Miami: GIA, University of Kansas, California College of the Arts, San Diego State University, Rochester Institute of Technology, Temple University, Virginia Commonwealth University , Indiana University, University of Wisconsin, Academy of Art University, Miami Jewelry School, and American School of Jewelry.
Schools interested in discussing the prospect of coming to the center should contact Isis Pellegrino at isis@tcjewelrycenter.com.
Top: A rendering of the entrance to the Time Century Jewelry Center in Miami (photo courtesy of Time Century Holdings)
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