$2
Billion in Projects Planned for New Rochelle's Downtown
The
city in southern Westchester County has eight structures
planned that would add residential, hotel, office, and
retail space. Meanwhile, work progresses on two Battery
Park City residential towers. |
Three Mixed-Use Projects Planned
New Rochelle may add $2 billion in new projects to its downtown
as planning moves forward on three major mixed-use developments
in the city.
The furthest along is a 353,600-sq.-ft. tower breaking ground
this summer. Cappelli Enterprises of Valhalla, N.Y., is teaming
up with New York developer Donald Trump to build the tower,
which will have 141,500 sq. ft. of retail space on the two
lower levels topped with 181 condominium residences. The building,
called Trump Plaza, will link by an enclosed pedestrian bridge
to Cappelli's $250 million New Roc City entertainment, hotel,
and residential complex completed in 1999. Construction on
Trump Plaza is expected to take 18 months.
Cappelli also signed a memorandum of understanding with the
city to redevelop the two-acre Lawton Street Urban Renewal
District, an effort that will include demolition of existing
structures and relocation of tenants. In their place, Cappelli
plans to build two 390-ft.-tall towers with 200,000 sq. ft.
of retail, 300,000 sq. ft. for an office and hotel complex,
and 320,000 sq. ft. of luxury residences. Once started, construction
is expected to last 18 months. Together with the Trump Plaza
partnership, the two new Cappelli projects are estimated to
cost $750 million.
The third major development would be from Simone Development
of New Rochelle, which has proposed a $175 million, 34-story
tower with 385 condos and 44,000 sq. ft. of retail space.
On the same site, Simone plans a second mid-rise with 30 to
50 condos and 2,500 sq. ft. of office space. Simone expects
to begin construction within 18 months.
New Green Towers for Downtown
Work is progressing on two new residential towers at Battery
Park City, both incorporating the district's stringent sustainable
development guidelines.
New York-based Millennium Partners broke ground this spring
on a new 35-story apartment building on Battery Park City's
Site 2A on West Street, with Gotham Construction, also of
New York, as general contractor. The $190 million Millennium
Tower is slated for completion at the end of 2006.
Designed by New York-based Handel Architects, which is also
the designated architect on the World Trade Center memorial,
the tower will join three other buildings - Tribeca Green,
Solaire, and Verdesian - in meeting the Hugh L. Carey Battery
Park City Authority's environmental guidelines. The new tower's
construction will incorporate recycled steel, wood, and concrete,
primarily from local sources, and use low-volatile organic
compound paint and flooring.
In addition, the Millennium will have a rooftop garden that
will capture rainwater for reuse in irrigation, recycle wastewater
for non- potable uses, and use solar panels for power generation.
The 340,000-sq.-ft. tower will be 25 percent more energy-efficient
than New York codes require and will use 33 percent less water
than a standard design building.
Meanwhile, the Verdesian, which will be the district's third
environmentally engineered residential building, topped out
this spring. The building comes from the same team of developers
and designers that built the Solaire, the nation's first green
residential tower, which opened in 2003 in Battery Park City.
Developed by the Albanese Corp. of Garden City, N.Y., and
Northwest Mutual Life Insurance of Milwaukee, and designed
by Cesar Pelli and Associates of New Haven, Conn., the Verdesian
will have 299,000 sq. ft. and 24 stories. It will feature
a natural gas 70-kw microturbine capable of generating 20
percent of the building's base electric load and a heat-recapture
system that will generate 100 percent of domestic hot water
needs. Overall, the building exceeds New York City energy
efficiency standards by almost 40 percent, according to Albanese.
Turner Construction of New York began construction on the
$75 million building last September, with occupancy scheduled
for January 2006.
$147 Million College Overhaul
Hudson County Community College, serving more than 6,000
students in Jersey City, N.J., is implementing a ten-year
master plan that will add more than 200,000 sq. ft. of new
facilities.
The school has awarded a $147 million contract, financed
by the county and the state, to Jersey City-based MAST Construction
Services, which will oversee the construction of a 75,000-sq.-ft.
culinary school, scheduled for completion this summer, and
an 85,000-sq.-ft. academic building now in design. Meanwhile,
MAST also completed a new 40,000-sq.-ft. administration building
earlier this year, a structure designed by Di Cara Rubino
Architects of Wayne, N.J. Rivardo Schnitzer Capazzi of Cliffside
Park, N.J. designed the culinary school.
The college also plans to acquire and renovate a three-story
building as well as construct a new 61,000-sq.-ft. science
building on Sip Avenue. In addition, the college has applied
for a federal grant to build a 12,000-sq.-ft. connection to
the New Jersey Transit light rail system's Bergenline Station.
New South Bronx Retail Center
A Manhattan developer is planning to build a new mall in
the South Bronx that would have 1 million sq. ft. of retail
space, a four-acre public park and esplanade, and a 2,340-space
parking garage on a site next to the Harlem River.
Designs were unveiled last month for the $394 million Gateway
Center at the Bronx Terminal Market proposed by a Related
Cos. affiliate. The project would provide a boost for one
of the city's least affluent neighborhoods. The site also
includes space to build a 250-room hotel as well as a bicycle
velodrome and badminton center for the 2012 Summer Olympics
should New York City win its bid for the games this month.
Currently, the 16.8-acre site, just south of Yankee Stadium
and bordered by River Avenue to the east and 149th Street
to the south, includes a handful of 1920s-era warehouses,
which are partially occupied by fruit and vegetable wholesalers.
According to the New York City Economic Development Corp.,
the market was once one of the largest Hispanic wholesale
food operations in the country, home to more than 100 businesses.
Now there are fewer than 30, and the city has deemed some
of the buildings to be in hazardous condition and has slated
them for demolition.
An association of the merchants claims that the drop-off
in vendors owes largely to conflicts with a previous landlord.
Earlier this year, the city had offered a relocation deal
to the merchants in efforts to clear the site. But the association
rejected the plan, which would have split the vendors among
various sites, according to Adrian Zuckerman, an attorney
with Lowenstein Sandler of New York, which is representing
the group. The association filed a lawsuit against the city
and Related in the spring, and the case is pending.
Last month, Related unveiled a design for the center by GreenbergFarrow
and Brennan Beer Gorman Architects that calls for two three-story
structures and a six-story parking facility. The developer
intends to open Gateway Center in 2009.
Mixed-Use Project Near Cloisters
A development team recently purchased a property in Upper
Manhattan intending to redevelop the site into a 300,000-sq.ft.
mixed-use building. The N.Y.C. Human Resources Administration
has been the main tenant of the building across from the Cloisters
and Fort Tryon Park.
Acadia Realty Trust of White Plains, N.Y., and P/A Associates
of New York paid $25 million for the 140,000-sq.-ft. building,
which also houses a commercial parking garage. They plan to
develop half for retail and commercial uses and the other
half for residential.
The development cost for the retail and commercial portion
is estimated at $40 million. According to a press release,
the partnership may sell its development rights for the separate
mid-rise residential structure.
This is Acadia's third recent "urban infill" acquisition,
referring to the development of vacant or underutilized properties.
It made similar purchases last year of the Sears Building
on Fordham Road in the Bronx and a 16-acre site slated to
become a shopping center in Westchester County's Pelham Manor.
The Manhattan project is expected to break ground within
the next two years, with completion expected within 18 months
of the start.
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