Cappelli Breaks Ground on New Rochelle Project
In yet another sign of the revitalization of downtown New Rochelle, BCW member Cappelli Organization broke ground Wednesday on a new 14-story residential building located on the site of the former Standard Star newspaper building on North Avenue.
The new building will feature 112 apartments and approximately 4,000 square feet of ground-level retail space. The apartments, which range from 440 to 755 square feet, will be comprised of 13 studios, 92 one-bedroom and 7 two-bedroom units. The Standard will offer a combination of luxury amenities and easy access to mass transit that is very appealing to Millennials, a driving force in today’s rental market.
“We are pleased to start our newest venture in downtown New Rochelle with The Standard. When we opened New Roc City almost 20 years ago, we were pioneers in the revitalization of the downtown. Since then, the city has enjoyed a remarkable renaissance. We’re happy to add The Standard to our project portfolio and to continue to play a role in the redevelopment excitement in downtown New Rochelle,” said Louis Cappelli, Chairman and CEO of the Cappelli Organization at the groundbreaking ceremony which was attended by city officials and BCW President and CEO Marsha Gordon.
The start of the construction of The Standard marks a new strategy for the Cappelli Organization in New Rochelle to develop smaller rental units targeted to Millennials. Cappelli played a pivotal role in beginning the reimagination and revitalization of the City’s downtown. Over a 10-year period from 1997-2007, the company built approximately two million square feet of residential, entertainment, hotel, retail and garage properties.
Built in 1924, the Neo-Classical style building housed the operations of the Standard Star daily newspaper which left the building in 1975. The back portion that housed the printing presses will be demolished while the North Avenue façade will be preserved and incorporated into the new building. The project is expected to be completed in the fourth quarter of 2019.
Photo: Marsha Gordon, President and CEO of the Business Council of Westchester, with Louis Cappelli, Chairman and CEO of the Cappelli Organization, at the groundbreaking ceremony on April 25, 2018.
Similar News Items
Lights, Camera, Action! The business of TV and film production is booming in Westchester County. According to a new annual economic impact report released by County Executive Ken Jenkins, the county’s film and television sector contributed $924.2 million to the local economy in 2024. Total jobs supported by the County’s film and television industry last […]
The Business Council of Westchester is among 42 business organizations statewide that vehemently oppose the Twenty First Century Anti-Trust bill,(S335/A2015) In a letter to the Governor and Legislature, the coalition urges rejection of the legislation which is both anti-business and anti-consumer and would destroy the state’s economy. “This legislation comes out of a national movement […]
Congratulations to BCW Member White Plains Hospital on the groundbreaking ceremony held Monday for its largest-ever campus transformation project: a 10-story, approximately 500,000-square-foot expansion that will nearly double the size of the hospital when it opens in 2028. Leaders from the hospital were joined by Montefiore Medicine President and CEO Dr. Philip Ozuah, Westchester County […]
Become A Member
Join the county’s largest and most influential business organization today.
JOIN NOW!
Leave a Comment
You must be logged in to post a comment.