The building is located adjacent to Cappelli's 500,000-sf NewRoc City family entertainment center that opened last year. Idonisays that Cappelli is also holding talks to acquire developmentrights to a two-acre urban-renewal property near the New Rocparking garage. That site is adjacent to a planned multi-milliondollar intermodal transportation center for Metro North Railroad."We hope to make an announcement by mid-September" Idoni says. IfCappelli prevails, he could build as much as 300,000 sf of officeand retail space on the site.

The mayor notes that the city has some reservations aboutswitching the New Roc office building to residential use because itmight compete with the Avalon on the Sound high-rise residentialapartment community being built nearby. AvalonBay Communities iserecting the first phase of its planned 1,000-unit project andexpects to complete the first 412 apartments in the spring.

Idoni says that no decision has been made by the city. Cappelliofficials could not be reached for comment

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.