The plan calls for the construction of a 280,000-sf officebuilding at his firm's 70-acre property that currently includes1133 Westchester Ave., a more than 600,000-sf office building RPWGroup purchased from IBM a few years ago and repositioned as amulti-tenant building in a project estimated at $115 million. Thatbuilding is currently 80% leased.

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Weisz tells GlobeSt.com that the new office-building projectwill cost approximately $75 million to build. Also at theproperty--which is adjacent to Maple Moor Golf Course and at thecrossroads of I-287 and the Hutchinson River Parkway--RPW Group hasto only secure building permits to begin construction on a 160-roomhotel at 1131 Westchester Ave. That project has been estimated atbetween $30 million and $40 million.

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The new office-building project received preliminary inducementfrom the Westchester County IDA. If the plan's incentive package isfinalized, Weisz says his firm will immediately begin the approvalprocess for the project with the City of White Plains. He adds thathe hopes to begin construction on the office building in 2009 andcomplete it by the end of 2010 or early 2011. Construction of thehotel and office building could go on simultaneously. In the past,Weisz has stated that he hoped to begin construction on the newhotel by the spring of 2009. At present, Weisz is in discussionswith a number of hotel operators but has yet to select a flag forthe property.

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Commenting on the new office-building project, he says, "we aregoing to be offering it to Fortune 500 companies. We do nothave a tenant currently, but we will be looking to attractcompanies to the property." While he would not identify anypotential tenants, his firm is in discussions with a number ofcompanies about the project. Glenn Walsh of Cushman & Wakefieldwill be the exclusive leasing agent for the new office building at1135 Westchester Ave.

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"For the past 20 years there has been no new construction ofclass A multi-tenanted office buildings in Westchester County,"Weisz states. "There are no existing properties in the county thathave the ability to offer tenants floor plates of 100,000 or moresf, which are necessary to attract Fortune 500 and other largenational and international companies to Westchester County."

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According to paperwork filed with the IDA, the building would beLEED-certified and will be designed with large floor plates, acafeteria, executive dining room, fitness center, sundry shop and aday care center. The plan also calls for the building to beconnected to the existing 1133 Westchester Ave. building.

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John Jordan

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