Extell Development Company of New York City recently launched the International Gem Tower, a 34 story state-of-the-art industry center designed to meet the needs of the gem and jewelry trades.
The tower, designed by Chicago based Skidmore Owings & Merrill will be located in New York City’s diamond district at 50 West 47th Street and include a signature crystalline curtain wall and facade of embedded diamond shaped medallions, a rectangular profile with floor to ceiling windows offering 360 degree views, natural light, expansive skylines and highly efficient floor plates.
Considered a unique commercial condominium complete with cutting-edge technology, security and amenity spaces, the International Gem Tower will provide the benefits of ownership and equity to family-run businesses as well as multi-national companies and is expected to create over 1,000 jobs in the short term and numerous permanent long term positions.
“For the first time, New York City’s diamond district will have an international gem and jewelry center on par with other global markets,” stated Gary Barnett, Extell’s founder and president.
The first construction phase of the tower which includes three underground levels that will house gem industry vault operations, utility infrastructure, parking facilities and retail has already begun and is being constructed by Tishman Construction Company of New York City. The first construction phase is expected to be completed by the end of the year with overall construction scheduled for completion in 2011.