Downtown Miami’s 94-year-old Metro Mall is getting a complete renovation that will convert the building into a large jewelry center.
A gut demolition of the building is now underway, and construction is expected to be completed in Spring 2021 with a total of 225,000 square feet of space.
Total cost of the renovation is $35 million.
The project is being developed by Time Century Holdings LLC, led by Yair Levy. The company acquired the building in 2018.
“There is no other jewelry center like this in Florida,” said Levy. “We gutted the entire interior of the building so we could have a blank canvas to start new with our own design. I traveled around the world visiting iconic buildings to find inspiration for Metro Mall’s design and finishes. Our goal has always been to bring the building back to its glory days. Jewelry stores will operate from a state-of-the-art center while shoppers of luxury fine jewelry will have a dazzling experience. It will be a win-win situation for jewelers and consumers.”
Metro Mall’s will cater to jewelry wholesalers, retailers, craftsmen and repair services with flexible floor plans. The new jewelry center will consist of four floors of luxury jewelry retail and wholesale space, and four additional floors of offices. A large three-story atrium with newly designed escalators and computerized directories will direct customers throughout all levels, and most tenants will have unobstructed views of their store signs viewable from the main floor. The mall will have glass storefronts, soaring ceilings, escalators and elevators, valet parking and state-of-the-art security, and is already attracting prospective local and national tenants.
“We have already signed leases with high-profile jewelry stores who realized they and their customers deserve better,” said Levy. “That’s why I saw a great opportunity to innovate to capture a large share of the jewelry industry.”
Levy has over 50 years of retail experience, and is handling leasing in-house
Kobi Karp is the architect overseeing the renovations.
Miami’s jewelry district is home to over 500 jewelry stores in a four-block radius. The district generates more than $1 billion in sales annually.
Here’s what Richards Department Store (Metro Mall) looked like after it’s 1950s era modernization and before it closed in 1980:
This is what it looked like when it was built, when it was Cromer Cassel in 1926:
Photo by Wm. Fishbaugh, Collection of Florida State Archives.