Louis Cappelli,made it bluntly clear to the Common Council that he would not compromise with the city on the 34 story heights of his proposed City Center towers Wednesday night.
The super developer expressed anxiety that worsening economic conditions could upset the whole City Center financial structure if he changed his project even one story, effectively killing the project perception with the banks, Avalon, his residential partner, and his prospective tenants.
The Common Council hunkered down in their seats at Wednesday evening’s work session and their eyes became smaller with each sentence uttered by Louis Cappelli who gave them an update and virtually an ultimatum on the City Center project. Councilman Benjamin Boykin, was not in attendance and did not hear the sober, friendly, frank warning delivered by the indefatigable developer.
Cappelli said that all demolition would be completed within the next three weeks, and that he wanted the Council to approve the project at their September 4 Common Council meeting because he feared any further delay could jeopardize the financing of the project.
He presented the council with his “term sheet,” an economic breakdown, floor-by-floor, of the buildings demonstrating how most of the profit of the residential towers was contained in the upper 10 stories of their projected 34 story heights. Lessening the height by one floor, he said would cause him to have to go back to the banks and reconfigure all his leases, financing, and residential partnerships.
“I sense from certain councilmen that theCity Center project was enough. I get a sense from other councilmen that 34 stores might be too high, that it’s something to come off of. It’s really not a negotiation. The bottom seven floors are worthless,” Cappelli said. “Lowering the buildings affects the performance. The top four floors are very valuable. I have to go back to Avalon, the banks. Everywhere today, you see stuff(bad economic news) happening. Time is the enemy.”
Cappelli said bluntly, “I can’t stress enough for you to move on this, say yes so I can close with my banks. I don’t want anybody to think knocking floors off is not a big deal because it is a big deal.”
Cappelli added that he is scheduled to sign a lease with National Amusements, the theater tenant, on September 4 which he will have for the Council in time for their September 4 Common Council meeting that evening, when he urged them to approve the project.
At this point, Cappelli turned to aesthetics and presented eight different brick colors and design treatments for the twin 34-story towers he was demanding. They ranged from redbrick to blue-gray, from vertical to horizontal window treatments, from a block structure pinnacle to varying pyramid pinnacles. He said he was willing to come back with 8 to 10 more treatments of the buildings to hone in on what design the Council was comfortable with.
Rita Malmud reacted to the designs with some warmth, and did not make any comments on the height issue: “I’m having trouble working with the verticalness. The vertical lines need more sense of distinction. I’ll know when I see it. That’s it.”
Pauline Oliva, however, continued her opposition to the 34-story height, though she liked building number eight. Oliva said she liked Building eight because it had a “heavier, lower look.”
Larry Delgado said “It (the design) is not quite there yet.”
William King said he liked Building number six, “I like where you’re going. I’ll support the height. I think it’sjust a matter of tweaking it. It’s a great look.”
Robert Greer said “I don’t pretend to be an architectural maven, but I’m with you on the height. No problems.”
Cappelli ebullient about the reception the design looks were getting said, “This 34-story building has to be perfect. A symbol of the city.”
Cappelli added that the buildings would be enhanced by skyward-directed flood lights, imparting a nighttime glamour.
Larry Delgado concluded comments with stating that “I’m concerned about the problem of height downtown. As Fred Bland (of Beyer, Blinder, Belle, architects) indicated we’re a city of shoulders, I would not want to see a city of only ‘heads’…I’d not like to see the biggest thing to be the biggest height.”
Cappelli took sharp, rational exception to this comment: “I’m out on the street. I don’t get the sense of what you’re getting a sense of that these stories matter. I can’t agree with a comment that this height is an issue.You show me one letter against the height, I can get you 50 letters supporting the height.”
Delgado said he was supportive of the 28-story zoning change considered by the Council.
Cappelli stood firm: “This is a deal killer. I can’t fit those 8 apartments by six floors into 28 stories. This (28 stories) is a deal killer because it changes the performance of the project.
He added: “Don’t judge us by other projects(in the future). Where were they for the last 10 years? To have you say that what they suggest should affect me that’s not right.We’re here for the first time making history. They’re not here.”
Pauline Oliva took up the anti-height crusade: “I was willing to vote for the proposal for up to 28 stories. It’s not that I am against the height, it’s how high. You just talk to business tenants. But people that talk to me, whom I meet in the supermarket, people say don’t let them build that height.”
Cappelli and Oliva wrangled over what residential homeowners thought and what the downtown needed. Oliva expressed concerns about traffic that was already clogging her Battle Hill neighborhood and what it would be like when the apartments were built at the City Center.
William King suggested part of the increased traffic was due to I-287 cut-throughs.
The Cappelli presentation closed with Mr. Cappelli vowing to return with more enhanced designs for his twin towers within a few days.
