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Business Journal & WPW Report Cappelli Wants to Turn South Tower Into Condos
Posted on Tuesday, June 10 @ 08:32:10 EDT by jfbailey
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WPCNR WHITE PLAINS CAPPELLI CHRONICLES. June 10, 2003: Alex Philippidis, Editor of Westchester County Business Journal and White Plains Week news personality reports that in his exclusive post Westchester County Association Annual Spring Dinner interview with Super Developer Louis Cappelli, Mr. C. told him he was planning to turn his 35-story City Center apartment tower from 300 apartments into 150-condominium apartments.
WESTCHESTER COUNTY BUSINESS JOURNAL'S Philippidis said Mr. Cappelli was "close" to acquiring $85 Million to build to erect the second of his twin ziggurats at his "signature" City Center complex in the heart of White Plains last week, and also broke the story of Cappelli switching the building to "All-Condo" on Monday evening's White Plains Week cablecast on WPPA-TV . White Plains "Spirit of 76."
Photo by WPCNR STAGE CAM
In his bylined Page 3 dispatch in Westchester Business Journal this week, Mr. Philippidis says Mr. Cappelli reports he plans to sell the condominium units for $600,000 and up for a 1-bedroom unit with the condo apartments being about double the size of previously approved rental units in the tower.
NORTH TOWER OF CITY CENTER RISING ON MAIN STREET: It's companion building is planned to go "all-condo".
Photo by WPCNR News
The Mayor's Press Office did not return calls from WPCNR to ascertain whether a site plan amendment was required to approve the change in plan, but Common Council sources thought the change in nature of the planned South Skyscraper would require going back before the Common Council.
A Council member, speaking on condition of anonymity speculated that a quid quo pro might be in order to make some of the condos "working families housing," since the precedent was set in granting devoloper Frank Cantatore approval for condominiums at 10 Windsor Terrace in exchange for a $20,000 contri bution towards "Working Families Housing."
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