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Jewelry Center to be WMC site neighbor

Larry Thomas -- Furniture Today, November 26, 2006

Las Vegas — Developers teamed with Las Vegas city officials last month to unveil plans for the World Jewelry Center, a 1 million-square-foot mixed-use development across the street from the World Market Center.

The Jewelry Center, which will be built on a portion of a 61-acre parcel owned by the city, will include an office tower, condominiums and retail jewelry facility.

No cost estimate was given for the project, which is scheduled open in late 2009 to mid-2010.

"We're very excited about this global project coming to our city," said Las Vegas Mayor Oscar Goodman. "The World Jewelry Center will revolutionize the jewelry industry as well as change the way people and businesses view Las Vegas."

The project's developer is Probity International, a 30-year-old commercial real estate company based in Beverly Hills, Calif.

Developers cited the success of the nearby World Market Center as one of the reasons for selecting the Las Vegas site. A press release announcing the project described the WMC as "the U.S. business hub for the furniture industry."

The WMC has broken ground for its third showroom building. The second building will open in January, and a total of eight buildings encompassing 12 million square feet are planned by 2012.

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