After a multimillion-dollar renovation, developers are betting the 225,000-square-foot Time Century Jewelry Center will help turn the area into a luxury destination.
MIAMI — Early last year, Vlad Yunatanov, owner of the high-end Manhattan jeweler Alexander Sparks, started looking in the Miami area for a suitable location to open a second branch of his business. He decided on a part of downtown Miami dotted with empty storefronts and rundown buildings.
The draw, Mr. Yunatanov said, was Time Century Jewelry Center, a building with 225,000 square feet of retail space and offices, spread over nine levels, for diamond dealers and gold buyers, and for services like diamond-setting and polishing. About half of
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