Cappelli to Seek Change of Use for New Rochelle Property

NEW ROCHELLE, NY-Cappelli Enterprises of Valhalla is expected to petition the city to have the use of its 120,000-sf property adjacent to its New Roc City entertainment complex changed from commercial office to residential. That request could come as early as tonight (Tuesday) at a meeting of the New Rochelle City Council.

Joseph Apicella, senior vice president of development for Cappelli, says that the company will seek approval to have the building changed. The company hopes to obtain permission from the city to develop rental apartments (approximately 92 units) at the building that sits atop a parking garage and alongside a Residence Inn by Marriott hotel in Downtown New Rochelle. At deadline, the Cappelli request was not on the City Council agenda for tonight’s meeting.

Apicella says that the developer would require a zone change and an amendment to an air rights agreement it has with the city of to move forward with the residential apartment plan. He also reveals that Cappelli Enterprises is in discussions with the city to develop a mixed use 300,000-sf building on a two-acre tract of city-owned land nearby its New Roc City property. The building would have to entail at least 150,000 sf of office space and would also feature retail space as well.

Although the developer is in talks to build the mixed-use building on Parcel 1-A, the firm feels that the “best use” for the building on top of the parking garage is residential and not office use.

Just down the street AvalonBay Communities is building the first phase of a planned 1,000-unit rental apartment community. Apicella notes that the market for rental housing is so strong that the Cappelli residential building would complement rather than compete with the Avalon venture.