Cappelli Buys 110,000-SF Site for $16M; Plans $300M Hotel/Condo Project

WHITE PLAINS, NY-Developer Louis Cappelli has purchased a prime site in downtown White Plains bordered by Main St. and Hamilton Ave. from the Halpern family and plans to build a $300-million mixed-use development at the site.

The 110,000-sf site sits across the street from Cappelli Enterprises’ $320-million City Center at White Plains development, which is currently under construction.

Cappelli says that he plans to build a 200-room hotel, approximately 200 residential condominium units and an office building on the former Halpern property. The Valhalla-based developer has already reached an agreement with Starwood Hotels & Resorts Worldwide Inc. of White Plains to have Westin operate the hotel.

This property has been prime real estate for nearly 30 years,” Cappelli says. “Now with the construction of our City Center project, the entire downtown area of White Plains has gained the momentum that was needed for a true re-birth. We had predicted that the investment in City Center would trigger a major downtown revival, and not only is it happening, but we are now active participants with this second site. Other downtown properties have already changed hands recently, and the city will continue to see tremendous new investment downtown largely stemming from its commitment to the creation of City Center. This is a very exciting time for White Plains.”

Cappelli says that his firm expects to present preliminary plans for the new project to the City of White Plains within the next 30 days.

White Plains Mayor Joseph Delfino says of Cappelli’s new proposal, “Attracting a first class hotel to this site in our downtown has been a major component of my economic development plan and today’s news will hopefully bring us one step closer to achieving that dream. There obviously is a lot of work and detail to be considered and I look forward to beginning the process.”

The former Halpern property currently features a row of one and two-story retail stores on the Main St. side and is also being used as a parking lot. The Halpern family had owned the property since the 1980s and had gained approval more than a decade ago for an office building complex, but never moved forward with the plan. In the mid 1990s, the Westchester developer had planned a multi-plex theater for the site. However, that project never materialized as well.

A key aspect of the Halpern plan was the inclusion of air rights acquired from Grace Episcopal Church, which is on an adjacent property. Cappelli says the air rights from the church will be utilized in creating the new mixed-use project.