News

Advanced Search

New Miami Jewelry Mall Receives $24M Boost

Feb 21, 2021 5:47 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... 
The developer of a new jewelry retail complex in Miami has secured a $23.6 million loan, enabling it to move forward with the project.

The funds from City National Bank of Florida will go toward completing phase one of the Time Century Jewelry Center program. This consists of constructing the building’s retail and wholesale space, which spans the basement, ground, mezzanine and second floors, Time Century Holdings said last week. The real-estate investment and development firm closed on the loan on February 12.

The entire project, costing $50 million, will see Time Century renovate the building formerly known as the Metro Mall in the Florida city’s jewelry and diamond district. Phase two, planned for later this year, involves the installation of four stories of office space.

“This loan is a true endorsement of the transformation of downtown Miami,” said Time Century head Yair Levy. “City National Bank has a pulse in the community and wants to be part of projects that will further position downtown Miami as a global destination.”

The company plans to complete the renovations in the second quarter of 2022. The new building will span 225,000 square feet that will “redefine an entire city block,” it explained.

Image: Rendering of the Time Century Jewelry Center. (Time Century Holdings)
Tags: City National Bank of Florida, Florida, Jewelry, miami, Rapaport News, Real Estate, retail, Time Century, Time Century Holdings, Time Century Jewelry Center, Yair Levy
Similar Articles
Titan Tanishq 140Titan Jewelry Sales Continue Recovery
Apr 08, 2021
Revenue at Titan Company increased in the fourth fiscal quarter as consumer sentiment continued to improve following the
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.