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
The Business Council of Westchester (BCW) hosted a dynamic panel discussion on Monday at Pace University, bringing together a diverse group of experts to explore the critical issue of establishing ethical standards and regulations for artificial intelligence. “Governing the Future: The Ethical Frontier of AI Regulations and Policy” was part of the BCW’s AI Alliance […]
Bringing its exceptional brand of care to assisted living and memory care, BCW Member Broadview at Purchase College held a grand opening ceremony on Wednesday for its High Point Center for Care. More than 200 people attended the reception and ribbon-cutting ceremony for the new center, which incorporates Broadview’s signature concept of intergenerational and lifelong […]
Governor Kathy Hochul has announced that $200 million in funding is available through the State’s two signature downtown revitalization and economic development programs—$100 million each for Round 9 of the Downtown Revitalization Initiative (DRI) and Round 4 of the NY Forward program, which focuses on revitalizing smaller and rural downtowns. Together, the two programs have […]
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.