Historic Building In Downtown Miami Unveils New Name

Sep 13, 2020 No Comments by

As Time Century Holdings LLC continues to transform one of Downtown Miami’s iconic buildings – the former Metro Mall –  into a premier jewelry center, the building has reached a new milestone as it unveils its name, Time Century.

Nearly two years after acquiring the building, the developer has officially extended its corporate brand to the 225,000-square-foot building, redesigned to bring a modern luxury and sophistication to the Miami Jewelry District. Located at 1 NE First St., Time Century is undergoing a $50 million makeover led by renowned Architect Kobi Karp. Construction is scheduled for completion in 2022.

 

“Located in the heart of Miami, Time Century will be the premier destination for luxury jewelry retailers, wholesalers, consumers and watch enthusiasts,” Time Century Holdings Managing Director Dan Deutsch said. “Historically, the former Metro Mall was a major shopping destination, and today we are focusing on the future of Downtown Miami, which in recent years has seen a wave of redevelopment and repositioning of historic properties. Time Century marks a new beginning for one of the largest jewelry districts in the country that continues to grow in importance. For example, since the beginning of the pandemic, jewelers in Downtown Miami have been busier than they were prior to Covid-19, as the price of gold hits record levels.”

Time Century’s renovation will give way to 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. 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. The retail space is already 50 percent pre-leased.

 

“From the architectural style to the official name, every aspect of Time Century was designed to appeal to millennials, Gen Z and Baby Boomers alike,” said Isis Pellegrino, who handles in-house leasing for Time Century. “To the younger customers, unique experiences and connections to brands and spaces play an important role in choosing where they shop for fine jewelry. It is important to evolve and remain competitive so our tenants can grow and thrive for generations to come.”

A ‘game-changing’ benefit for customers will be Time Century’s own valet parking service and the several newly-built public parking garages steps away from the building.

Located along NE First Street and E. Flagler Street, Miami’s vibrant jewelry district is home to more than 300 jewelry stores in a four-block radius. The district generates more than $850 million 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.

In addition to tourists, Downtown Miami has seen a drastic increase in full-time residents. In recent years, people have moved into the highly-amenitized high-rises built in the area in the last decade. As a result, its population is expected to reach 109,617 by the time the 2020 census is completed. That would represent a 67 percent increase since 2010. The City of Miami has been ranked as the fourth “Most Walkable City” in the U.S. because of its Downtown. A major contributor to this growth is the jewelry district.

 

 

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Industry News, Miami-Dade County Office, Miami-Dade County Retail, NA, Office, Retail
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