Real estate developer Yair Levy secures large construction crew following a $23.6 M loan to build phase I of Time Century Jewelry Center.
MIAMI, FLORIDA, US, May 10, 2021 /EINPresswire.com/ — Construction work at Time Century Jewelry Center in downtown Miami has gained speed in recent weeks following the $23.6 million construction loan from City National Bank of Florida. Since the loan closed in February, the renovation of the former Metro Mall building has begun to take shape. The luxury jewelry and diamond center is scheduled to open in mid-2022. You can see a photo gallery here: https://bit.ly/3xnnEeF.
The 225,000 square-foot Time Century will bring luxury to a jewelry and diamond district that has lacked glamour for many decades. Time Century, located at 1 NE First St., will be one of the latest additions to a downtown experiencing a fast transformation. New developments, retail tenants and a new wave of residents and businesses from the Northeast, California and other tax-burden states are injecting new life to Miami’s urban core.
Developer Yair Levy is the visionary behind Time Century. Levy is head of Time Century Holdings, a real estate investment and development firm with a diversified portfolio of holdings in New York and Florida. Time Century’s renovation is being led by renowned Miami architect Kobi Karp. Levy envisioned a premier destination for luxury jewelry retailers, wholesalers, consumers and watch enthusiasts.
"The construction crew is working diligently at installing a new HVAC system, building partition walls for the tenants, installing new plumbing, rewiring the electrical power system and much more," Levy said.
The jewelry center will boast four floors of luxury jewelry retail and wholesale space as well as four additional floors of offices. A large three-story atrium with newly designed escalators and computerized directories will seamlessly direct customers throughout all levels. Most tenants will have unobstructed signage viewable from the main floor. Customers will also benefit from Time Century’s valet parking service and the several newly-built public parking garages steps away from the building.
With glass storefronts, soaring ceilings, elegant escalators and elevators, and state-of-the-art security, Time Century is attracting local, regional, and national tenants. This will be the first luxury high street retail property in the jewelry district.
Located along NE First Street and E. Flagler Street, Miami’s vibrant jewelry district is home to more than 400 jewelry stores in a four-block radius. The district generates close to $1 billion in sales annually. The area has easy access to MetroRail, People Mover and the Brightline train, connecting Miami to Fort Lauderdale and West Palm Beach. The district is minutes away from PortMiami, known worldwide as the "Cruise Capital of the World." Millions of tourists visit Downtown Miami each year and many more are expected to arrive as soon as the Brightline commuter train opens a station in Orlando, connecting Miami tourists to Orlando’s theme parks.
Source: EIN Presswire