CE News - Cappelli Inc

Summer 2005
Vol. 1 Issue 1
I N S I D E
City Center at White Plains
pg 2
Trump Plaza, New Rochelle
pg 3
Renaissance Square
pg 4 & 5
Barger Brook Manor
pg 6
The Concord
pg 6
A
Q u a r t e r l y
N e w s l e t t e r
Groundbreaking at
Renaissance Square
appelli Enterprises
has taken another
major step toward
construction of its newest
White Plains project –
Renaissance Square. The
$400 million, 890,000square-foot project in the
heart of the city’s downtown will combine a fivestar hotel, luxury residences, office space and
street-level retail in two
glass-enclosed towers.
Underground parking will
accommodate 1,000 cars.
C
element in the revitalization of downtown White
Plains that began with the
City Center project.”
The hotel will utilize the
first eight floors of the first
tower, which will also feature luxury residences from
the ninth to the 40th floor.
Residents will enter their
homes through a private
lobby and have access to
the hotel’s services.
Renaissance Square’s second tower will include 200
residences above 115,000
“This is another extremely
square feet of Class A
exciting step not only for
office space. Nearly 11,000
our company, but for the
Artist’s rendering of 221
entire City of White Plains,” Main Street, White Plains, square feet of street-level
NY... Renaissance Square. retail/restaurant space will
said Louis R. Cappelli,
link the project with the surrounding
President of Cappelli Enterprises.
continued on pg 4
downtown area.
“Renaissance Square is the next major
TRUMP TOWER AND THE LOFTS
APPROACHING SELLOUT
It’s been less than eight months since the sales center for
Trump Tower and The Lofts at City Center opened, and already
more than 95 percent of the 241 homes are
in contract. Sales prices have increased
significantly since October, with the
remaining condos priced from $965,000 to
$1.8 million. The residences are expected
to be sold out in the next month.
City Center at White Plains
COLD STONE
CREAMERY
NOW OPEN TO
WAITING FANS
City Center at White Plains just got
sweeter with the opening of Cold Stone
Creamery, a highly successful Arizona-
based ice cream retailer. Located at 25
Mamaroneck Avenue, Cold Stone
Creamery features homemade ice cream that
is custom-blended
on a frozen granite
stone.
Founded in 1988 by
Donald and Susan
Sutherland, Cold Stone
Creamery offers consumers a unique
ice cream experience. Using only the
finest ingredients, the Sutherlands produce the highest quality ice cream
available, making it fresh each day at
their store on the “cold stone.”
Today, Cold Stone Creamery, which
is privately held, has more than 900
stores across the country, with more
than 1,000 additional stores now
under consideration.
Opening
Soon
New York Sports Club,
a full-service health club facility,
will be opening at City Center in
September 2005.
Temptation Tea House,
an Asian fusion restaurant,
opening by December 2005
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www.cappelli-inc.com
Trump Tower & The Lofts
Reach New Heights
ales for Trump Tower and The
Lofts at City Center continue to
soar. Much of the demand is coming from Westchester residents who are
downsizing from large single-family
homes, and Manhattan residents who
are attracted by the easy commute to
midtown and the walk-to convenience
to the wide array of restaurants, entertainment and shopping in downtown
White Plains. In fact, Bill Rancic, the
original “Apprentice,” recently signed a
contract to purchase a two-bedroom
condo at Trump Tower at City Center.
S
The 35-story Trump Tower offers 211
luxury condominiums, while The Lofts,
at 11 stories, features 28 luxury SoHostyle residences. Residents will enjoy a
full array of luxury amenities and services
including 24hour doorman,
concierge service, valet parking, a fully
equipped stateof-the-art fitness center,
indoor and
outdoor pools
and tennis
courts, as well
as sweeping
views of the
Manhattan
skyline and
Long Island
Sound.
Residences
feature highend finishes
including
hardwood
floors, stainless
steel appliances,
marble bathrooms, cherry kitchen cabinets,
granite countertops and numerous other
luxury features.
“It’s the overall
package – the
convenient
access to New
York City,
shopping and
dining at your
doorstep,
attractive pricing, extensive
amenities, and
the magnificent views.
We’ve created
a living experience that simply hasn’t existed before in
Westchester,” said Louis R. Cappelli.
The Sales Center features model kitchen
and bathrooms for both Trump Tower
and The Lofts, as well as detailed site
model and individual miniature models of
several styles of condominium homes.
“I was very confident going into this venture that we would do well, and I’m particularly gratified that the outstanding
sales pace has justified my initial optimism,“ said Donald Trump. “The City of
White Plains is certainly making its mark
among the most dynamic of the small
cities across the nation. It’s clear that
Westchester can and will support luxury
high-rise living. It’s very exciting.”
The Trump Tower and The Lofts at City
Center Sales Center can be reached at
(914) 684-0100 or on the web at
www.citycentercondo.com. The Sales
Center at 227 Main Street is open daily,
10 a.m. to 6 p.m.
New Rochelle
Trump Plaza Coming
to New Rochelle
or the second time in one year,
Donald J. Trump, is joining forces
with Louis R. Cappelli – this time in
creating a new luxury high-rise residential
building in downtown New Rochelle.
F
Trump Plaza,
which will be
part of a $750
million downtown urban redevelopment plan, will rise more than 390
feet and offer spectacular views of Long
Island Sound. It will be
built on a two-acre site on
Huguenot Street that the
City has been trying to
redevelop for more than
30 years. The building
will be one of the tallest
in Westchester County.
“I am pleased that Donald has
agreed to invest with me in
a second luxury high-rise in
Westchester. The unparalleled
success we have experienced
together in White Plains has
been spectacular,“ said Mr.
Cappelli. “Our goal is to capitalize on that success in New
Rochelle, a city that is undergoing its own Renaissance.”
The 353,600-square-foot Trump Plaza will
consist of 141,500 square feet of retail
space on two levels at the base, topped
with the 30-story luxury residential
condominium tower. There will be 181
upscale one-,
two- and threebedroom residences. Private
parking for the
residences will
be provided on-site. In addition, the
project will be linked to New Roc City
and its new modern parking garage by an enclosed
pedestrian bridge.
The residences at Trump
Plaza will feature the highquality finishes and attention to detail that are the
hallmarks of Trump residences. Granite countertops,
hardwood floors, upgraded
appliances, designer cabinetry and marble bathrooms
are among the features for
which his residences are
known. Among the services
for residents will be a 24hour concierge and doorman, valet parking, Olympic
swimming pool, full-service
health club, business center,
children’s playground, roof
top garden and a state-ofTrump Plaza, New Rochelle, NY
the-art security system.
Mr. Trump said he looked
forward to partnering with
Mr. Cappelli in a second
venture. “The experience
Louis and I have had working together in
White Plains has been excellent. He is a
first-rate developer and his vision has been
a key element in sparking the rebirth of
White Plains. He is playing a similar role
in downtown New Rochelle, and I am
looking forward to being a part of that.”
Sales for the condominiums are expected
to begin in September and a Trump Plaza
Sales Center will be open by Fall 2005.
For more information, contact The
Marketing Directors, Inc., Marketing and
Exclusive Sales Agent, at (914) 632-6300 or
visit www.trumpplazanewrochelle.com.
CITY TAPS CAPPELLI
FOR BLOCK
REDEVELOPMENT
Cappelli Enterprises recently got the
“thumbs up” from the City of New
Rochelle to redevelop a full downtown
block that will serve
as a centerpiece in
the continuing
Renaissance of the
city’s downtown.
A Memorandum of
Understanding with
the City provides
for the revitalization
New Rochelle Mayor
of the Lawton
Timothy Idoni
Street Urban
Renewal District,
which will include a new luxury residential-retail-hotel-office complex with two
32-story, 390-foot towers. The new complex will feature 200,000 square feet of
boutique retail space, including national
tenants, on multi-levels. Additionally, an
office/hotel complex of 300,000 square
feet is envisioned along with 320,000
square feet of luxury high-rise residential
development for a total build-out of
approximately 800,000 square feet.
“This new project will be the centerpiece in over $2 billion in revitalization
that is now taking place in our downtown,” said New Rochelle Mayor Timothy
Idoni. “The redevelopment of this block
will unify various components of our
downtown. It’s a major step forward not
only for the downtown, but the entire city.”
Mr. Cappelli said his approach for the site
is to create an attractive and dynamic
complex that brings new retail, office and
residences to the downtown, creating
activity in the heart of New Rochelle.
“Many of the major pieces are already
in place, and this remaining block lies in
the middle,” he said. “The City recognized the importance of this development block many years ago when it
was designated for Urban Renewal.
We’re pleased that this long-held redevelopment goal at last will be realized.”
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Renaissance Square
Groundbreaking at Renaissance Square
Renaissance
Square will be
built in two
phases. The
first phase will
be the parking
structure, the
hotel and the
first residential tower on Main Street.
The second phase will be the office space
and second residential tower nearer to
Hamilton Avenue. The first occupants are
expected to move in by early 2007.
continued from pg 1
constructed by Cappelli across Main
Street. The classic architecture of historic Grace Church, built in the mid1800s, will gain new prominence as a
result of the spacious outdoor
plaza next to
Renaissance
Square.
White Plains has
become one of the
nation’s hottest real
estate markets, and
the downtown has
A focal point of Renaissance Square will
become the place
be a beautifully landscaped plaza with a
waterfall adjacent to Grace Church. The to be at night as
design and the open space created outside well as during the
will contribute to the vibrant ambiance set day with pedestriby the popular Renaissance Plaza Fountain, ans taking advan-
tage of new shopping, dining, recreation
and entertainment opportunities that are
all within easy walking distance of City
Center and Renaissance Square.
Construction crews begin work on Renaissance Square.
COURT STREET EXTENSION
The Court Street extension in downtown
The new four-lane extension, to be
drive for the hotel and residential ele-
goal of city planners. Now, this important
a dilapidated parking lot and help ease
access to Renaissance Square will be
White Plains is the culmination of a 40-year
“missing link” in the city’s downtown street
network will connect two major thoroughfares – Main Street and Hamilton Avenue.
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www.cappelli-inc.com
named Renaissance Square, will replace
the traffic flow throughout the entire
downtown area. It will also allow for
vehicular access to an elaborate entry
ments of the development. Pedestrian
provided primarily from Main Street.
Renaissance Square
RENAISSANCE SQUARE AT-A-GLANCE
• Two 40-Story Towers
• 890,000 Square Feet
• $400 Million Development
• 400 Luxury Residences
• 5-Star Hotel
• 115,000-Square-Feet of Office Space
• 1,000-Space Underground Garage
• Street-Level Retailing
• Construction of New Court Street
Extension for City
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Yo r k t o w n
Construction Begins on
Barger Brook Manor in Yorktown
appelli Enterprises has broken
ground on a new, $80 million,
luxury adult condominium
community in the beautiful Town of
Yorktown. Located at Barger Street and
Route 6, Barger Brook Manor will feature
140 elegantly designed condominium homes.
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here in Westchester,” said Joseph Apicella,
Senior Vice President for Cappelli
Enterprises. “We want to offer adults
who are downsizing from larger homes,
the same taste of luxury living that
“With the aging baby boomer population, they are accustomed to, but with more
adult luxury housing is becoming a priority conveniences to make life simpler.”
Preliminary offerings will be released this
fall, and potential buyers will be placed
on a waiting list. Occupancy is slated for
late 2006.
Set on 50 wooded acres, with nature trails
and a pristine lake, Barger Brook Manor will
offer expansive one-, two-, and three-bedroom
residences with prices starting at $495,000
for a one-bedroom,1.5 bath unit. Amenities
will include granite kitchens, state-of-the-art
appliances, central heating and air-conditioning,
health club, sauna, media room, and indoor
and outdoor swimming pools. In addition
tennis and golf are located nearby.
Catskills
Empire Resorts to Acquire Concord
and Grossinger’s Properties
mpire Resorts, Inc., and Concord
Associates LP – a joint venture
owned by Louis Cappelli and
Reckson Strategic Venture Partners –
have entered into a new agreement and
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www.cappelli-inc.com
plan of merger for the Concord and
Grossinger’s Resort properties in the Catskills.
Those actions follow a recent vote in the
Sullivan County Legislature approving five
Native American
casinos for Sullivan
County. In addition,
New York State
Governor George
E. Pataki has introduced a bill for the
global settlement of
Native American
land claims and
authorization for
gaming compacts
for Catskill casinos.
The acquisition will include casino and
hotel development sites, along with 72
holes of golf – including the Monster,
International, Challenger and
Grossinger’s golf courses.
Empire has previously announced
plans for development and management of two separate Native American
casinos in the Catskill Mountains.
With the Concord and Grossinger’s
acquisitions, Empire will be able to
pursue two of the five casino development opportunities in Sullivan County,
NY – one at Monticello Raceway and
the other at the Concord properties.
The company will also re-develop the
Grossinger’s Resort.
Cappelli Enterprises News
Louis R. Cappelli Foundation Announces
2005 Funding Initiative
he Louis R. Cappelli Foundation,
a not-for-profit charitable organization founded in 1999, recently
announced its 2005 funding initiative to help
Westchester and Sullivan counties’ at-risk
youth reach their full potential. The
Foundation will focus its attention in education, health and fitness, and arts education.
All fully certified 501-C3 non-profit organizations in Westchester and Sullivan counties
are invited to submit proposals for funding that meet the following criteria:
collaboration among agencies, educational
facilities, childcare centers, school districts
and parents to address innovative education programs that encourage and foster
the learning process for at-risk children.
EDUCATION –The Foundation will look
for education programs that encourage
ARTS EDUCATION – The Foundation
will support arts education programs
T
HEALTH & FITNESS – The Foundation
will support programs that provide innovative and worthwhile health programs or
organized sports which encourage wellness and fitness, enabling at-risk children
to reach their fullest potential in life.
that provide access to the visual and
performing arts for at-risk children
through the counties’ wide array of arts
and related organizations.
To receive a grant application, please send
your request in writing to Denise Groneman,
The Louis R. Cappelli Foundation, 115
Stevens Avenue, Valhalla, NY, 10595, or
by e-mail to [email protected].
Since its inception, The Louis R. Cappelli
Foundation has awarded over $3 million
in grants. All grant applications must be
received no later than 5 p.m., June 18, 2005.
EMPLOYEE SPOTLIGHT
SUSAN BRESLER
Director of Design
Susan recently joined
Cappelli Enterprises
after working with
Avalon Bay Communities
for seven years. She is
responsible for design issues, including
layouts, floor plans and conceptual
designs for Renaissance Square, Harbor
Square, Barger Brook and Trump Plaza.
She has been in real estate development
for the past 20 years, and holds an M.B.A.
from Harvard Business School and a B.A. in
Architecture from Cornell University. Susan
lives in Mamaroneck and has three children.
DENISE GRONEMAN
Director, Louis R. Cappelli
Foundation
Denise Groneman is the
office manager and
has been with Cappelli
Enterprises for more than
20 years. As the new director of the Louis
R. Cappelli Foundation, Denise reviews all
BRIAN VON SCHMID
Director of Leasing
assess their needs, and makes recom-
enjoying his first job at
grant applications, meets with them to
mendations on grant recipients. Denise
and her family live in Stamford, CT.
HELEN SZCZERBA
Real Estate
Coordinator/Marketing
Helen Szczerba is a
familiar face at Cappelli
Enterprises. She recently
rejoined the company
Brian Von Schmid is
Cappelli Enterprises
after interning at the
firm while he attended
college. He holds a B.A. in Finance from
Iona College in New Rochelle and is
responsible for assisting in the management of City Center and New Rochelle
developments. Brian lives in Manhattan.
after two years living
away from New York. She is responsible
for providing real estate sales/marketing
coordination services for various development projects. Previously, Helen was
marketing director for New Roc City in
New Rochelle. She began her career at
Cappelli Enterprises in 1992, as Margaret M.
CONTACT US
Bruce Berg
Executive Vice President
[email protected]
Helen Szczerba
[email protected]
Schneider’s executive assistant and later
became Louis R. Cappelli’s executive assistant. She and her family live in Ossining.
115 Stevens Avenue • Valhalla, NY 10595
w w w. c a p p e l l i - i n c . c o m
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115 Stevens Avenue • Valhalla, NY 10595
www.cappelli-inc.com
The Renaissance of White Plains
CITY CENTER
AT WHITE PLAINS
• 1.1 million square feet
• $325 million development
• 523 luxury residences
• Performing Arts Center
• 535,000 square feet of
retail space
RENAISSANCE
SQUARE
• Two 40-story towers
• 890,000 square feet
• $400 million development
• 400 luxury residences
• 115,000 square feet of
office space
• 5-Star Hotel