World Jewelry Center in Las Vegas to be New Global marketplace for Gems and Jewelry

The World Jewelry Center announced that it is building a 57-story tower on the north side of the 61-acre former Union Pacific parcel in downtown Las Vegas. It will be designed by Altoon & Porter Architects, who redesigned the Fashion Show Mall with its signature giant, hovering cloud screen on the Strip side of the mall. They also designed a 101-story high-rise and mixed-use complex, the Dragon Tower, to be built in Jakarta, Indonesia. The World Jewelry Tower will have close to one million square feet of mixed-use space and will be one of the largest jewelry hubs in the world. In a press release in November 2006, the World Jewelry Center reported that it had already signed 10 tenants. The tower is expected to break ground early in 2007 with a completion in 2009 to 2010. The tower has been designed with the top floors as condominiums and office and meeting space below. The plans call for a 3-story retail center next to the tower for retail jewelry stores, which will include a world-class gem and jewelry museum. The tower will also have meeting and exhibition facilities, several international restaurants, a private club, a fitness center and plans for a Foreign Trade Zone.

Probity International Corporation, a Beverly Hills-based real estate company, is the developer of the project. The company has successfully developed a number of hotels in New York and California plus several proposed projects in Las Vegas, including a mixed-use development of 625 condominiums and 60,000 square feet of retail space on Tropicana and Hualapai, and a neighborhood retail center on the corner of Sunset and Grand Canyon.

It is certainly an eclectic mix in the 61-acre downtown parcel so far with the Lou Ruvo Brain Institute, the World Market Center, the Smith Performing Arts Center and the IRS offices all part of the neighborhood.

John Laub is the president of the CEO-CFO Group.

1. "World Jewelry Center Announces Initial Occupants: Unveils List of Industry Leaders to Be First Occupants in World Jewelry Center's One Million Square-Foot Mixed-Use Facility." PRNewswire. World Jewelry Center Press release. November 14, 2006.
2. "Introducing the World Jewelry Center." Mark E. Adams. Vegastodayandtomorrow.com. November 12, 2006.
3. www.worldjewelrycenter.com
4. www.probityinternational.com
5. www.altoonporter.com