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New Addition to Miami Jewelry District Is Looking for a Design School Tenant
The Time Century Jewelry Center will offer discounted rent to the school.
The Time Century Jewelry Center, located in downtown Miami, is planned to open in 2022 and house a mix of wholesalers and jewelers delivering to the trade, retail spaces for shoppers, and office space.
Last month, developer Time Century Holdings LLC secured a $23.6 million construction loan from the City National Bank of Florida and announced the building is already 60 percent pre-leased.
Now, it’s looking for a jewelry design school tenant, which will benefit from access to the building and the district’s jewelers, Time Century said. Meanwhile, nearby college campuses will help provide a pool of potential students to the design school.
Time Century will offer a rent discount to the school, bringing it below market rate.
Founder and head Yair Levy said: “Downtown Miami offers a strategic location for a Jewelry Design School that has the vision to grow and expand beyond its current target market. I am willing to lower the rent and provide additional incentives for the right school because I know this institution will energize the jewelry district and create a great synergy with the colleges around us and the top-notch jeweler tenants at Time Century.”
He continued, “The school will be able to access domestic and international jewelry design students since the pandemic has turned Miami into a top destination for people relocating from California, New York, and other tax-burden states as well as Europe and South America.”
Time Century is open to satellite jewelry design program locations, for institutions such as the Gemological Institute of America, Miami Jewelry School, American School of Jewelry, or universities with existing programs.
Depending on the school’s needs, 5,000 to 10,000 square feet are available.
Isis Pellegrino, who does in-house leasing for Time Century, said, “South Florida represents a great opportunity for a jewelry design program that can teach the latest in technology and the fundamentals of jewelry design to prepare the next generation of jewelry designers.
“Florida has a big demand for this type of education and the demand will grow even more when the economic recovery further boosts jewelry sales. We are already seeing sales take off in Miami.”
Designed by architect Kobi Karp and located 1 NE First Street, the building will feature a three-story atrium as its design focal point.
Time Century said in addition to a break in rent, the building is prepared to offer other incentives.
Jewelry design schools interested in learning more should contact Pellegrino at email@example.com or (786) 646-9191.
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