New York Sports Clubs Is In as City Center Garage Health Club. LA Fitness is Out

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WPCNR Main Street Journal. By John F. Bailey. April 2, 2004, Updated with Health Club profile, 11:30 E.S.T.: Louis Cappelli today announced he had signed a lease Friday with New York Sports Clubs, the health club based in White Plains on North Broadway, to occupy and manage the state of the art health club he is building atop the City Center Garage. Cappelli said it was his company decision not to sign the lease with LA Sports Fitness, as he had previously announced.



NEW YORK SPORTS CLUBS TAKES OVER on top of the City Center Garage, shown here on March 13. Mr. Cappelli reports he has signed the lease today. Photo from WPCNR News Archive.


Cappelli said he did not sign with LA Fitness at the last moment because it made more business sense to give the lease to a local sports club rather than hurt a club’s business that already existed in White Plains. He noted that New York Sports Clubs had better financials as another reason he backed out of the LA Fitness deal. “We went down too fast on this one (LA Fitness). You want to give yourself the chance to optimize your  chances. And we went to fast. When you look at it, you don’t want to compete against other businesses in town. It didn’t make sense to bring in a health club that would fight for another club’s customers.”


Cappelli reports New York Sports Clubs “Cappelli style” will open atop the garage in September.


New York Sports Clubs  (of White Plains) is a subsidiary of The Town Sports International (TSI)  the largest in the Northeastern United States. Since 1974, the TSI roster  has risen to 125 high quality facilities in New York, Washington, D.C., Boston and Philadelphia—with membership totaling more than 350,000. The TSI network is made up of the “brands:” New York Sports Clubs, Washington Sports Clubs, Boston Sports Clubs and Philadelphia Sports Clubs. In addition, TSI features the Forum and the Joggeli Fitness Clubs in Basel and the Luxor Club in Zurich, Switzerland.


The TSI website asserts that a person in any fitness condition find facilities to meet their own health and fitness needs at a TSI gym . It has a reputation as being the club for no-nonsense fitness buffs and tailors exercise and fitness programs. TSI facilities offer racquet courts, pools and basketball courts, which fit right in with Mr. Cappelli’s plans for  his Garage Health Club.  The TSI club profile features weight equipment, cardiovascular equipment and other exercise apparatus. Personal  training, massage, steam rooms and saunas, in addition to Sports Clubs for Kids and fitness assessments are offered.



The company credits its innovative fitness programs, pro staff,  and dedication to quality and service and continual facility improvement. Learn more at the website, www.nysc.com.

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Bradley On Senate/Assembly Budget Reform Pack. Guarantees Ed Aid 2 Yrs.

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WPCNR’S ADAM IN ALBANY. By District 89 Assemblyman Adam T. Bradley. April 2, 2004: As a candidate for the Assembly, I was an outspoken advocate for budget reform. I am pleased to announce that the Assembly and Senate members of a bipartisan conference committee have come to an agreement on a package of budget reforms that will help ensure fair, on-time state budgets that meet the needs of Westchester County by employing better long-term and annual planning, closer oversight of spending, and more public input.

As a candidate for the Assembly, I was an outspoken advocate for budget reform. I am pleased to announce that the Assembly and Senate members of a bipartisan conference committee have come to an agreement on a package of budget reforms that will help ensure fair, on-time state budgets that meet the needs of Westchester County by employing better long-term and annual planning, closer oversight of spending, and more public input.


    


School districts in Westchester County will benefit greatly from these reforms. The plan includes the Assembly’s proposal to require a two year appropriation for education aid – providing schools with information they need to plan ahead and avoid property tax increases. It also creates an education reserve fund in the state constitution to ensure sufficient funds exist for the payment of aid in May and June of each year.


 


The reform package provides the Legislature with more accurate revenue forecasts and gives additional time to review the details of the governor’s budget proposal so legislators can make better decisions by:


 


·        implementing an “enhanced fast start plan,” a discussion between the governor and Legislature on revenue forecasts and projected expenses that would begin on November 15;


·        creating a nonpartisan independent budget office to provide objective analyses of state revenues that can be used to make decisions in a timely manner – without the time consuming debate that often occurs;


·        requiring the governor to submit his budget by January 15 (February 1 for a newly-elected governor);


·        shortening the amendment period from 30 to 21 days to allow time for legislative review; and


·        adding Health Care Reform Act programs like Family Health Plus and Child Health Plus into the overall state budget.


 


I have consistently supported moving the start of the state’s fiscal year from April 1 to May 1, and continuing government operations through a contingency budget if a new budget is not passed on time – two ideas that have been incorporated into the conference committee’s reform plan. By pushing back the budget deadline, we will be able to give different organizations across the state a more reliable way to plan their budgets. And by creating an independent budget office, we take away one of the biggest sources of partisan disagreement.


 


The package would also require a three-year projection by the governor and Legislature of the financial impact of any changes to the executive budget to provide better long-term planning. To put more money away in “rainy day” funds, the plan would create a reserve fund equal to 5 percent of all state funds to cushion against economic downturns, revenue shortfalls and natural disasters.


 


I commend the bipartisan conference committee for the package of budget reforms they’ve put forth. This is a good beginning, but there is much more work to be done to reform state government. These initiatives will ensure better planning and better financial forecasts, enabling the Legislature to enact better budgets. I hope the governor will endorse these reforms as we offer them to the voters of our state to ratify.

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Cappelli Putting New Equity Into “Triple Towers,” No Construction Management Fee

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Journal. Interview with The Super Developer, Continued by John F. Bailey. April 1, 2004: Louis Cappelli, the Super Developer, reached out to The CitizeNetReporter again Thursday evening to make it clear that his newly struck deal (with J P Morgan Fleming Asset Management in which JPMFAM is partnering with Mr. Cappelli, investing $105 Million in One City Place, (The North Tower), was not taking profits out of City Center on his part.


 



 


 THE SUPER DEVELOPER IN ACTION: Louis Cappelli said he is turning over his $40 Million in equity, what would be left  of the JP Morgan stake, after paying off Cappelli’s $65 Million debt on One City Place, and put it to work building the “Three Sculptures” he plans for 221 Main Street.  He expects to begin “The Triple Towers” in June, pending expected Common Council approval in May. The Super Developer is shown in a photo taken March 12, inundated with plans in his office on 14 Mamaroneck Avenue across from the City Center, shown in background. Photo by WPCNR News



He made it clear that Trammell Crow was not a third partner in One City Place, that he and JP Morgan were the only two partners on the project under the pending deal, while Trammell Crow was an associate, under contract to manage and lease the building only, not a participant in the profits. Trammell Crow manages several buildings for JP Morgan that has purchased Trammell Crow owned properties.


 


“As my part of the partnership, “ Cappelli said, “I am A, supplying the building, and B, fully responsible for the balance of the construction, which will be complete by the end of May,  and C, when I pay off the $65 Million debt the building cost, I will have $40 Million left, and D,  (as their part of the partnership) JP Morgan is supplying $105 Million cash.”


 


Asked if he was paying being paid for the balance of the construction, Cappelli said he was not: “I will be funding the complete cost of the remaining construction.”


 


PILOTS Unaffected by Taking on New Partner.


 


Cappelli indicated that the Westchester County Industrial Development Association had approved the concept of the partnership with JP Morgan Fleming Asset Management Thursday morning, because, Cappelli said, the nature of the project had not changed, “The County approved it this morning, we just evolved into a new partnership, and that does not affect the PILOTS.” Cappelli said.


 


 


Likes to be in the field.


 


WPCNR asked whether he was the Head Coach or the Quarterback under the new partnership arrangement with JP Morgan. The Super Developer chuckled and said he liked to be in the field and the quarterback doesn’t get “banged up a lot.”  Reminded that the Coach made more decisions, Cappelli refused to be drawn into the reporter trap play, refusing  to say whether he was the Coach or the Quarterback in the new partnership.


 


“I’m very happy with this partnership with JP Morgan,” he said, and indicated more partners were coming in on “The Triple Towers.”


 



THE TRIPLE TOWERS: Cappelli’s “Three Sculptures,” planned for 221 Main Street in White Plains. Site Plan is coming in Tuesday, Mr. Cappelli promises. Photo by WPCNR News.


 


More “Equity” to Come to Plow into “The Three Sculptures”


 


“There are two possible investment partners willing to commit two sums of $100 Million each in White Plains,” Cappelli said, towards the 221 Main, Cappelli Hotel and condominium project, he is now calling “The Triple Towers”.


 


He said institutional investors, including large equity funds and pension funds were seriously looking at investing these sums in the upcoming “Triple Towers” On Main Street.


 


“I am humbled, floored, at the interest (of major institutional investors) in White Plains,” Cappelli said. Asked if Donald Trump was still in the running to lay some money down, Cappelli, said the Trump interest was more an invention of the CitizeNetReporter than real, but he said it in a good natured way.


 


Site Plan for 221 Next, Then Financing.


 


At this point, Cappelli said he could not seek financing for the “The Three Towers” project until a site plan was approved, and the $40 Million in fresh equity from the JP Morgan deal announced Wednesday would enable him to move ahead on “The Three Towers” using his own equity.


 


The Super Developer said that the “Three Towers” site plan would be presented Tuesday of next week. He noted that Beyer, Blinder Belle architect Fred Bland (designer of the City Center North and South towers), would be brought in to design the Office Building and hotel.


 


Cappelli said it was good to use architects at what “they were best at” and Bland’s specialties, he said,  are office buildings and hotels.  His current architect on the City Center South Tower, Costas Kondylis, was a residential specialist, who he is tapping to handle the two towering condominiums above the planned hotel.


 


Reinvesting Profits in White Plains.


 


“I don’t want to come across as the bad guy here,” Cappelli said earnestly. “I know people hate me. I want them to know I am reinvesting in White Plains. All of the money (from the JP Morgan deal)  will be  reinvested into 221 Main Street. Any profit realized will go right into 221 Main Street, and that continues to show what I think about this city.”


 


Cappelli said he expected to start “The Triple Towers” in June and complete it in two and a half years, opening  in January of 2007.


 


City Center “Green Light” Meeting


 


Cappelli said he had been working 10 to 14 hours a day on both 221 Main and the City Center condominium restart. He said that on Friday morning he would be holding a “Green Light” meeting with twenty persons on his construction and engineering team, to begin again full scale construction anew on the City Center Condominium Tower on Martine Avenue. 


 


He said the delay the last two weeks was necessary to run power to the condo site from the North Tower. He said he expected Con Edison to run permanent power to the condominium tower within six months from the vault under Martine Avenue, at which time the building would be fully powered up.


 


 


 

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Saturday Night at the Cinema De Lux: Walking Tall, Home on the Range Open

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WPCNR COMING ATTRACTIONS. From White Plains City Center Cinema De Lux. April 1, 2004: Four new movies premier this weekend at the City Center 15 Cinema De Lux: Walking Tall, The Prince and Me, Home on the Range and Hellboy. Capsule previews follow, along with the movie schedule.

OPENING FRIDAY, April 2nd

THE PRINCE AND ME — Paige is a free-spirited American who falls in love with Frederick, a rebellious Danish prince, who is hiding in America disguised as a regular guy. Julia Stiles and Luke Mably star in this sweet romantic comedy. Rated PG

HOME ON THE RANGE — When a greedy outlaw named Alameda Slim schemes to take possession of the “Patch of Heaven” dairy farm, three determined cows, a karate-kicking stallion and a colorful corral of critters join forces to save the farm. Randy Quaid, Roseanne Barr, Dame Judi Dench, Jennifer Tilly and Cuba Gooding Jr. lend their vocal talents to this hilarious animated action adventure. Rated PG

HELLBOY — Rescued from sinister forces by U.S. agents, Hellboy is raised to be a hero at the secret Bureau of Paranormal Research and Defense. Years later, Hellboy is sent on a mission that brings him back in touch with the evil genius that started it all. Ron Perlman, Selma Blair and John Hurt star in this sci-fi action movie. Rated PG-13

WALKING TALL — Chris Vaughn is a retired soldier who returns to his hometown to make a new life for himself, only to discover his wealthy high school rival, Jay Hamilton, has closed the once-prosperous lumber mill and turned the town’s resources towards his own criminal gains. This action-packed adventure stars The Rock, Neal McDonough and Johnny Knoxville. Rated PG-13.


Thursday, April 01, 2004  
Never Die Alone (R) –12:30;2:45;5:10;7:35;8:15;10:05;10:40 pm. ;
The Ladykillers (R) –12:00;2:25;4:50;7:30;10:10 pm. ;
The Passion of The Christ (R) –1:20;1:50;4:00;4:30;7:10;10:00 pm. ;
The Ladykillers **(R) –1:50;4:20;7:00;9:30 pm. ;
Eternal Sunshine of the Spotless Mind (R) –12:05;2:35;5:05;7:40;10:25 pm. ;
Starsky & Hutch (PG-13) –12:30;2:50;5:15;7:45;10:35 pm. ;
Hidalgo (PG-13) –12:15;3:15;6:15;9:15 pm. ;
Taking Lives (R) –1:40;4:25;7:05;9:50 pm. ;
Scooby-Doo 2: Monsters Unleashed (PG) –12:00;12:10;2:00;2:40;4:00;5:00;6:00;7:20;9:45 pm. ;
Dawn of the Dead (R) –12:00;2:25;4:50;7:15;7:50;9:45;10:15 pm. ;
Jersey Girl (PG-13) –12:00;2:30;4:55;7:25;9:55 pm. ;
Secret Window (PG-13) –1:00;3:25;5:45;8:05;10:30 pm. ;
Agent Cody Banks: Destination London (PG) –12:50;3:20;5:35 pm. ;

Friday, April 02, 2004  
Jersey Girl (PG-13) –12:15;2:45;5:15;7:45;10:15 pm;12:35 am. ;
Home on the Range (PG) –12:00;2:10;4:30;6:45;9:00;11:15 pm. ;
Walking Tall (PG-13) –12:45;3:00;5:20;7:40;10:10 pm;12:20 am. ;
Scooby-Doo 2: Monsters Unleashed (PG) –12:10;12:50;2:30;3:10;5:00;5:40;7:30;9:50 pm;12:30 am. ;
Taking Lives (R) –1:10;3:50;6:20;9:15;11:45 pm. ;
Starsky & Hutch (PG-13) –1:30;9:20 pm. ;
Eternal Sunshine of the Spotless Mind (R) –1:40;4:25;7:15;9:55 pm;12:25 am. ;
Hellboy (PG-13) –1:20;4:15;7:10;10:00 pm;12:35 am. ;
Dawn of the Dead (R) –1:15;3:40;6:30;9:10;11:50 pm. ;
The Passion of The Christ (R) –12:30;3:20;6:15;9:05 pm;12:00 am. ;
The Ladykillers (R) –12:00;2:25;4:50;7:35;10:05 pm;12:35 am. ;
The Ladykillers **(R) –1:50;4:20;7:05;9:35 pm;12:15 am. ;
Secret Window (PG-13) –8:00;10:20 pm;12:30 am. ;
Never Die Alone (R) –1:00;3:15;5:30;7:50;10:25 pm;12:30 am. ;
The Prince and Me (PG) –1:25;4:10;7:00;9:45 pm;12:15 am. ;

Saturday, April 03, 2004  
Never Die Alone (R) –1:00;3:15;5:30;7:50;10:25 pm;12:30 am. ;
The Ladykillers (R) –12:00;2:25;4:50;7:35;10:05 pm;12:35 am. ;
The Passion of The Christ (R) –12:30;3:20;6:15;9:05 pm;12:00 am. ;
The Ladykillers **(R) –1:50;4:20;7:05;9:35 pm;12:15 am. ;
Dawn of the Dead (R) –1:15;3:40;6:30;9:10;11:50 pm. ;
Hellboy (PG-13) –1:20;4:15;7:10;10:00 pm;12:35 am. ;
Eternal Sunshine of the Spotless Mind (R) –1:40;4:25;7:15;9:55 pm;12:25 am. ;
Starsky & Hutch (PG-13) –1:30;9:20 pm. ;
Taking Lives (R) –1:10;3:50;6:20;9:15;11:45 pm. ;
Scooby-Doo 2: Monsters Unleashed (PG) –12:10;12:50;2:30;3:10;5:00;5:40;7:30;9:50 pm;12:30 am. ;
Home on the Range (PG) –12:00;2:10;4:30;6:45;9:00;11:15 pm. ;
Walking Tall (PG-13) –12:45;

Now for Something Completely Different: A Bachelor and Bachelorette Auction

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WPCNR COMPLETELY DIFFERENT DEPARTMENT. From The Leukemia & Lymphoma Society. April 1, 2004: Bring your friends to The Leukemia & Lymphoma Society’s 2nd Annual Bachelor and Bachelorette Auction at The Thirsty Turtle in White Plains.  On Wednesday, April 21, from 7-10 p.m., men and women of all ages will vie for the chance to be auctioned off to the highest bidder in an effort to raise funds to fulfill the Society’s mission: to cure leukemia, lymphoma, Hodgkin’s disease, and myeloma and to improve the quality of life for patients and their families. 


 


This fun evening out will include a cocktail hour from 7 to 8 p.m., during which time the crowd can mingle with the Bachelors and Bachleorettes.  In addition, everyone who comes will receive a program which will include profiles of the Bachelors and Bachelorettes so that the attendees will have an idea of who they would like to spend their hard earned money on prior to the actual bidding. The auction itself will start at 8 and last until 10.  Tickets are $30 and are available in advance or at the door.  The ticket price includes admission, two drinks, and hors d’oeuvres. To get tickets, sign up as a bachelor or bachelorette, or to sponsor the event, call 914-949-0084 ext.- 8996.


 


About The Leukemia & Lymphoma Society


 


The Leukemia & Lymphoma Society, headquartered in White Plains, NY, is the world’s largest voluntary health organization dedicated to funding blood cancer research, education and patient services.  The Society’s mission is to cure leukemia, lymphoma, Hodgkin’s disease and myeloma, and to improve the quality of life of patients and their families.  Since it’s inception in 1949, the Society has provided nearly $360 million for research specifically targeting blood cancers. 


 

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Cappelli Describes His New Partners as a 3-Way Partnership. To Pay off $65 Mill

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WPCNR MAIN STREET JOURNAL. Interview with the Super Developer By John F. Bailey. April 1, 2004: Louis Cappelli, head of Cappelli Enterprises told WPCNR today that he plans to formalize the new partnership sharing the ownership of One City Place announced Wednesday between himself, JP Morgan Fleming Asset Management and Trammell Crow one week from Monday. He declined to specify the ownership percentages divided among the three partners, explaining this was “a three-way partnership,” with the details of day-to-responsibilities in the process of being hammered out.



Cappelli Duo Talks: Louis Cappelli, right, and his right-hand man, Bruce Berg, left, shown at the March 25 Common Council Special Meeting. Photo From WPCNR News Archive.


 


Bruce Berg, speaking to WPCNR first said the percentage of ownership was not going to be disclosed, but said that Cappelli Enterprises was going to continue to be involved in every phase of the construction as the One City Place interior was being completed. Berg said the talks with J P Morgan Fleming Asset Management had begun about a month ago.


Louis Cappelli joined the telephone conversation at that stage and amplified that relationship. He said that the “three-way partnership” would oversee the building. Mr. Cappelli said that J P Morgan had not been suggested by Trammell Crow but had been brought in by the real estate firm, C. B. Richard Ellis. “My part of the partnership is the building which I am contributing to the partnership for cash. Trammell Crow is providing lease management. J P Morgan is contributing cash ($105 Million).” Cappelli said.


Mr. Cappelli said he would use $65 Million of J P Morgan’s $105 Million cash contribution to “pay off  the debt of the building.” He said as part of his piece of the partnership, he would make decisions on and supply the construction, design, interior work to complete the building. Trammell Crow, he said, would over see the leasing/marketing, and J P Morgan role would be defined in coming weeks. He said the ongoing management of the property would be shared by the three partners.

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Post Road School Welcomes Venders at Spring Bazaar.

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WPCNR SCHOOL DAYS. From Post Road School. April 1, 2004: Vendors are welcomed for  “The Marketplace,” Post Road School’s Annual Spring Bazaar to be held at the Post Road School on Saturday, May 8, rain or shine, just before Mother’s Day. The Bazaar runs from 10 A.M. to 3 P.M.



Vendors set up at 9 AM, and can ply their wares for just $35 per 8 foot space. You must supply your own tables.
To register call or email Carol Sheridan before 4/20/04 <mailto:carol929@earthlink.net> carol929@earthlink.net

Make Check payable to Post Road PTA. Drop in PTA mail box, or mail to: C. Sheridan, Post Road PTA Post Road Elementary School, 175 W. Post Road White Plains, NY 10606.

Spring Bazaar Summary of Events: Food/Refreshments Marketplace Craft Show, Raffle Entertainment, Silent Auction Kids Crafts, Advertised in Local Publications *Specialty Items such as gourmet treats, Avon, Mary Kay, etc.

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WPCNR WEATHER SCOOP: DRENCHING CONTINUES THROUGH WEEKEND.

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WPCNR WEATHER SCOOP. From National Weather Service. March 31, 2004: As of 9 P.M., 1.75 inches of rain had fallen at WPCNR Studios in White Plains, and the National Weather Service is predicting more heavy rains for Thursday morning. The sodden soaking weather pattern is predicted to continue through Sunday. The National Weather Service Forecast as of 10:30 P.M.:


ADDITIONAL PERIODS OF HEAVY RAIN THURSDAY…

A LARGE LOW PRESSURE SYSTEM OVER VIRGINIA AND NORTH CAROLINA WILL
REMAIN NEARLY STATIONARY INTO FRIDAY. A FEW TROUGHS OF LOW
PRESSURE WILL ROTATE AROUND THE MAIN LOW RESULTING IN PERIODS OF
RAIN ACROSS THE REGION THROUGH THURSDAY.

A STRONG TROUGH IS EXPECTED TO MOVE INTO THE LOCAL AREA BY LATE
THURSDAY MORNING…RESULTING IN ANOTHER PERIOD OF HEAVY RAIN THROUGH
THE LATE AFTERNOON. THE CUMULATIVE EFFECT OF HEAVY RAIN FALL FROM
WEDNESDAY EVENING AND THE EXPECTED RAINFALL THURSDAY WILL RESULT IN
RISES ON AREA RIVERS AND STREAMS AS WELL AS SOME STREET FLOODING IN
AREAS WITH POOR DRAINAGE. HOWEVER…THE AREA RIVERS ARE FORECAST TO
REMAIN WITHIN THEIR BANKS. THE RAIN WILL THEN TAPER OFF TO SCATTERED
SHOWERS THURSDAY EVENING.   

STAY TUNED TO NOAA WEATHER RADIO AND OTHER LOCAL MEDIA FOR FURTHER
DETAILS OR UPDATES.

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Cappelli in the Money: JP Morgan Fleming Buys $105 Million Stake In North Tower

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WPCNR MAIN STREET JOURNAL. From Cappelli Enterprises. (Edited) (Original WPCNR reportage added. March 31, 2004, UPDATED 10:50 P.M. E.S.T., UPDATED 11:15 P.M. E.S.T. In a statement today, Cappelli Enterprises announced a new investment partner in the City Center. Louis R. Cappelli, President of Cappelli Enterprises said today that JP Morgan Fleming Asset Management, a frequent partner with Trammell Crow, Mr. Cappelli’s North Tower property managers,  has signed a contract with LC White Plains Residential LLC to invest $105 million as a partner in City Center’s 35-story luxury rental apartment north tower known as One City Place.

 



BIG DEAL ON CITY PLACE: JP Morgan Fleming Asset Management purchased a stake in One City Place, shown above.



THAT WINNING SMILE: Louis Cappelli, facing camera, with his lawyer, Mark Weingarten, at a recent Council work session has 105 Million reasons to smile. The announcement of the detail did not make it clear whether Mr. Cappelli remains owner of One City Place or retained a minority stake. Photos From WPCNR News Archives.


 


 


While specific terms of the agreement were not disclosed, Cappelli emphasized that the investment is solely in the One City Place tower.  His companies remain the sole owner of the retail, entertainment and condominium components of City Center.


 


Cappelli Ebullient.


 


In his news release from Thompson & Bender, Cappelli released a statement describing JPMFAM’s coming into the project as a  “tremendous vote of confidence not only in City Center, but in the entire City of White Plains.  The level of interest in White Plains by major investment funds is extremely strong.  Investors see White Plains as offering a dynamic and positive environment.  This is a tribute to the foresight and approach of Mayor Joseph Delfino and the City Council.  White Plains is not just a place where shoppers and new residents want to be, but it has rapidly emerged as a community where major institutional investors want to be, as well.”


 


He added:  “When a player like JP Morgan Fleming makes a major investment such as this, it highlights how successful White Plains has become as a national model for economic development in a small city.  It is particularly gratifying for me as a private developer to realize the significant impact City Center is having in drawing so much positive attention to this community.”


 


J. P. Morgan invested with Trammell Crow before.


 


Trammell Crow Residential is Louis Cappelli’s rental agent, which he said he was familiar with from their work with his Ridgeview Development. Trammell Crow Residential is a completely separate company from Trammell Crow, based in Dallas. Though a spinoff of Trammell Crow, Trammell Crow Residential has now working relationship with the other Trammell Crow.


 


J.P Morgan Fleming Asset Management owns two projects of the Dallas company, two in Los Angeles which Trammell Crow is reported to break ground on today, a massive office and residential complex on Avenue of the Stars, and Century Plaza, a new office complex. Trammell Crow manages those properties for J.P. Morgan, which owns them. Trammell Crow also built a massive high rise residential apartment building at 655 N. Central Avenue in Los Angeles, named Glendale Plaza, which JP Morgan purchased from Trammell Crow  in 1999.


 


Details, Details. 13 Leases Signed at One City Place.


 


The investment agreement, Cappelli said, will not change the leasing and management structure that is in place for One City Place.  Trammel Crow Residential Services, one of the nation’s leading residential leasing and management companies, will continue to handle these activities. 


 


Since its “soft” opening two weeks ago, One City Place has taken 13 leases ranging from $1,430 to $4,590.  Residents are expected to begin moving into apartments on the first 14 floors of the tower in April, with the entire tower slated for completion by the end of May. 


 


Trammel Crow Property Manager Kristine Ragone said the level of interest has surpassed their expectations.  “It’s unprecedented to take 13 leases and have close to 100 interested renters visit during a soft opening period without any type of advertising or promotion.   It certainly confirms our belief that One City Place is a very special address.”


 


City Center Progress Report


 


Much of the retail/entertainment component of City Center is now open including Target, Circuit City, the White Plains Performing Arts Center and the National Amusements Multiplex Cinema, as well as Applebee’s and Green Point Bank.  Filene’s Basement is scheduled to open April 28, followed by Barnes & Noble, Legal Seafood, and Zanaro’s Italian Restaurant. 


 


Recently announced leases with Office Max and other tenants leave only about 30,000 square feet of the approximately half million square feet of retail/entertainment space available, and leases are pending for the balance.


 


City Place South Comments and Renaissance Square.


 


The south residential tower, known as City Place South, is under construction.  It will include 211 luxury condominium apartments.  A separate building containing 29 luxury Soho-style loft condominiums is also under way.  These final two components of City Center are scheduled to open by June 2005.   


 


Cappelli said he is now anxiously anticipating the start of construction on his second major downtown White Plains project, Renaissance Square.  This $350 million project includes a tower with a luxury hotel and condominium apartments and an office tower.


 


“The partnership with a major investor in One City Place encourages us to move forward quickly with the new project,” he stated.  “With site plan approval expected in May, we intend to immediately begin the demolition of the old storefronts on Main Street.  That will be followed by the excavation work for the foundation of the new complex.”


 


City Hall Timetable. Bar Building Applies Official for Landmark Status


 


George Gretsas, the Executive Officer for Mayor Delfino, told WPCNR Wednesday, demolition of the 221 Main block was expected to begin in three weeks.


 


Meanwhile in a related development involving the Bar Building, Jack Harrington of the White Plains Historical Society, told WPCNR that Anthony Longhitano’s (Bar Building owner) application to make the Bar Building at 199 Main Street an historically designated building had been completed and sent to the National Trust for Historic Preservation within the last week and a half.


 


More Jing to Come. $305 Million Expected.


 


Cappelli predicted that the investment by JP Morgan Fleming would not be the last by major institutional investors in White Plains.  “The potential for another $300 million in investment partnerships is very real, and more will likely follow.  The entire institutional investment community has come to realize that White Plains has emerged as the premier location to live, work, shop and play.  This is something the entire community can be proud of.”


           

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Historical Society Proposes Bump Robinson Memorial at Ferris & Hilltop Terrace

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WPCNR THE TALK OF FERRIS AVENUE. By John F. Bailey. March 31, 2004: The White Plains Historical Society and Ron Jackson, “The Last Activist,” are working together to create a lasting memorial to Jerome “Bump” Robinson, founder of the Thomas Slater Center Drum Corps, tireless worker for youth, and behind-the-scenes feeder of the hungry, who died last month. Jack Harrington, former President of the White Plains Historical Society, in discussions with Mr. Jackson, the driving force to create a “Bump” remembrance, suggests creation of a garden park on a vacant corner across the street from the firehouse at the foot of Ferris Avenue.



BUMP ROBINSON PARK: Possible site for Jerome Robinson memorial. Jack Harrington, the Historical Society, Ron Jackson, and Mrs. Robinson, Mr. Robinson’s widow, are enthusiastic about this vacant property, owned by the city at the intersection of Ferris Avenue and Hillside Terrace.  Mr. Harrington has suggested a neat garden park, with a few benches, highlighted  by a large boulder memorial with a plaque remembering Mr. Robinson provided for by the Historical Society to commemorate his thirty years of service to the residents of the community. Support is now being sought among council members and the city to Photo by WPCNR News.


 

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