Cappelli, RXR Break Ground for $650 Million Hamilton Green
https://thebcw.org/cappelli-rxr-break-ground-for-650-million-hamilton-green-project
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Ground breaks for new development at former White Plains Mall site
Groundbreaking ceremony for Hamilton Green, the new housing development by RXR and the Cappelli Organization, on the former White Plains Mall site Dec. 8, 2022 in White Plains.
https://www.yahoo.com/news/ground-breaks-development-former-white-202312518.html
Tania Savayan, Rockland/Westchester Journal News
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In White Plains, N.Y., the Long Death of an Old Mall
Many people think dying malls should be torn down and housing built in their place, but the process still often takes years
By Kate King
https://www.wsj.com/articles/in-white-plains-n-y-the-long-death-of-an-old-mall-11670331620
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Owners Looking to Transform Galleria at White Plains
The owners of a Westchester County mall are teaming up with prominent real estate players to turn the site into a mixed-use residential and commercial development.
The owners of The Galleria at White Plains located at 100 Main St. (Route 119), Pacific Retail Capital Partners (PRCP) and Aareal Bank, are teaming up with real estate developers SL Green Realty Corp. and the Cappelli Organization to transform the mall, according to an announcement by PRCP from Thursday, Nov. 3.
The 870,000-square-foot Galleria opened in 1980 in downtown White Plains and is near a major mass transit hub for the Metro-North railroad, according to PRCP officials.
“This is one of the most exciting mixed-use development sites in the New York Metro Area,“ PRCP Chief Executive Officer Steve Plenge said.
Plenge said that the Macy’s and former Sears properties at the mall have been purchased by PRCP, and that the site would be turned into “a vibrant mixed-use project that will be centered on residential development and amenity-based retail.”
Downtown White Plains has seen much development in the last decade, including many high-rise residential towers as well as the ongoing project to redevelop the White Plains Mall into Hamilton Green, another mixed-use project that is being overseen by the Cappelli Organization, PRCP officials said.
Plenge said portions of The Galleria would close in early 2023 to allow for the construction of the redevelopment.
“The Galleria at White Plains is an important property in Westchester County and the region. With our experienced real estate partners, the new masterplan and design will build upon the remarkable renaissance under way in Downtown White Plains,” Plenge said.
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PRCP and Aareal Bank form JV with SL Green & The Cappelli Org.
White Plains, NY Pacific Retail Capital Partners (PRCP) and Aareal Bank, owner of The Galleria at White Plains, have formed a new joint venture partnership with SL Green Realty Corp. and the Cappelli Organization.
The Galleria, which opened in 1980, consists of approximately ten acres located in a Qualified Opportunity Zone next to a mass transit hub of Metro-North. The area over the last decade has seen a near complete transformation. High-rise residential towers have already drawn thousands of new residents. The 870,000 s/f mall has become a focal point in completing the reimagination of downtown.
“This is one of the most exciting mixed-use development sites in the New York Metro Area,“ said Steve Plenge, CEO of PRCP. “We have worked over the past few years to acquire the Macy’s fee interest at the site, along with the leasehold interest of the former Sears. Working with our new partners, we will reimagine the site as a vibrant mixed-use project that will be centered on residential development and amenity-based retail.
PRCP, together with its new partners, is dedicated to creating a unique and strategic vision through master planning efforts and design for the Galleria at White Plains to transform it for the next generation.
The two new partners bring local multi-family and office experience to the partnership. SL Green is one of the largest owners of office real estate in New York City and Westchester County. The Cappelli Organization has been involved with numerous residential, office and retail development projects in greater Westchester County.
“We are extremely pleased for the opportunity to join with SL Green, Aareal Bank Group and Pacific Retail Capital Partners in the redevelopment of The Galleria site,” said Louis Cappelli, CEO of the Cappelli Organization. “The reimagining of this property is integral to the dramatic transformation of downtown White Plains that is well underway. We are fortunate to be able to play a role in recreating the property with mixed uses which will link the city’s transit center with the Mamaroneck Avenue corridor. The Galleria redevelopment comes as our company, is beginning the redevelopment of the former White Plains Mall property into Hamilton Green, also a mixed-use project. Together, the two major projects will effectively complete the transformation of the downtown that began as an Urban Renewal project more than 50 years ago.”
“The Galleria at White Plains is an important property in Westchester County and the region. With our experienced real estate partners, the new masterplan and design will build upon the remarkable renaissance under way in Downtown White Plains,” said Plenge. “The existing Galleria White Plains has been a community staple for many years. We anticipate closing a portion of the mall in early 2023 to evolve the asset and rebalance the mix of uses through a transformative development to meet the needs of the next generation.” Plenge added.
https://nyrej.com/prcp-and-aareal-bank-form-jv-with-sl-green-the-cappelli-org
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3THIRTY3 Tower Opens ‘Up’ In New Rochelle
https://patch.com/new-york/newrochelle/3thirty3-tower-opens-new-rochelle
NEW ROCHELLE, NY — If you ever wonder what the future will look like, look no further than the New Rochelle skyline. The future is here and it comes with a self-driving electric car.
New Rochelle and Westchester County officials joined representatives from the Cappelli Organization last Saturday to celebrate the grand opening of 3THIRTY3, a 28-story tower featuring 285 luxury apartments with high-end amenities, including two shared Teslas and indoor/outdoor recreational spaces.
“We are thrilled by the tremendous response we’ve received to this exciting and extraordinary new building. With 3THIRTY3 we are taking New Rochelle’s luxury rental market to a whole new level with world class amenities,” Louis R. Cappelli, Chief Executive Officer of the Cappelli Organization, said opening the new residential tower. “We are particularly pleased to be part of the remarkable renaissance underway in downtown New Rochelle.”
Centrally located at 333 Huguenot Street in downtown New Rochelle, 3THIRTY3 is a soaring glass tower featuring apartments with white quartz countertops, energy-efficient stainless-steel appliances and luxury vinyl plank flooring. Each apartment has walk-in closets with built-in shelving and floor-to-ceiling windows with spectacular panoramic views of the Long Island Sound and New York City.
“Louis Cappelli was among the key pioneers whose vision and confidence helped bring about the positive transformation of downtown New Rochelle,” New Rochelle Mayor Noam Bramson said. “Now, at 3THIRTY3, he takes our downtown to a new level, with design and amenities that establish the highest standards for our community and that reflect our aspirations for sustainable growth. The opening of 3THIRTY3 is yet another example of New Rochelle’s forward momentum, as we evolve into the best city in the region to live, work, and grow.”
Apartments are equipped with smart home systems, keyless entry, multiple zone heating and air conditioning, a full-sized stacked washer & dryer with built-in linen shelving and a run-quiet dishwasher. Monthly market rents range from $2,090 -$2,360 for studios, $2,495 – $4230 for 1-bedroom units and $3,450 – $4,925 for 2-bedroom units.
SEE ALSO: Lottery Open For 29 Affordable Units In New Rochelle Luxury Tower
Luxury amenities at 3THIRTY3 include 24/7 concierge service with a package room, dry-cleaning pickup/delivery, co-working spaces, exclusive resident access to two on-site Teslas, over 240 on-site parking spaces with electric car charging stations, and on-demand access to top-of-the-line home products via TULU.
With a focus on wellness, residents at 3THIRTY3 have access to a cardio and weight training health club, featuring Pilates, yoga, and an aerobics studio. There is also an exclusive full spectrum infrared sauna and New Rochelle’s only all-season indoor/outdoor swimming pool.
Residents will also have use of a multimedia lounge, a full-swing golf multi-sport simulator with brew bar, a mixology lounge, a professional chef’s event kitchen, an outdoor terrace with a fire pit, a grilling area and a pizza oven. There is even a pet spa with a grooming station.
Since the start of leasing a few months ago, more than 50 percent of the apartments are leased and 120 new residents have already moved in.
3THIRTY3 is one of two 28-story towers that comprise the 435,000-square-foot Centre at Huguenot complex. A second 28-story building with 249 apartments and ground-level retail space is under construction directly across the street with an expected completion date of November 2023.
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