Work Resumes on the new International Gem Tower in the Diamond District of New York. The city of lights had originally approved the project back in 2006 but was delayed for a number of reasons including design disputes, planning and budget.
Demolition of a six towers and building in and around the current diamond district begun during 2007. Construction company workers then continued to excavate the building site in 2008 by pouring the first concrete for the foundation walls during a public relations ceremony.
The building will house hundreds of wholesalers, importers and retailers specializing in all kinds of precious gems including engagement rings, settings and rare gems from around the world. The center aims to be a mecca for the diamond industry.
The official Diamond Gem Tower developer, Gary Barnett, was not able to use the term “ground breaking” last week though he did describe this “first-phase” of building the 34-floor International Gem Tower, on the south side of 47th Street between Fifth Avenue and Avenue of the Americas. In front of national and international television crews and reporters a crowd of thousands of spectators including diamond dealers and tourists witnessed what turned out to be a great marketing and photo opportunity for Barnett and current New York Mayor Michael R. Bloomberg.
The building is planned to be open by 2012 though no firm and fixed date has yet been set.