Trump and Cappelli partnership triumphs in White Plains plans

Real Estate Weekly, August 25, 2004

City Center and Louis R. Cappelli were once again at the heart of excitement in downtown White Plains last week when a spectacular double ceremony was held marking the "topping off" of the 35-story Trump Tower at City Center and the start of demolition to make way for Cappelli's latest project, the $375 million Renaissance Square hotel, residential and office complex.

Cappelli, president of Cappelli Enterprises, and Donald J. Trump, who is partnering with him on the ultra-luxurious new 212--residence Trump Tower condominium, were joined for the ceremonies by state, regional and local officials, including White Plains Mayor Joseph Delfino, Empire State Development Corporation Chairman Charles Gargano, Westchester county executive Andrew Spano and other local business and community leaders.

Trump said he was happy to be playing a role in the on-going revitalization of White Plains.

"The opportunity to create a luxurious, beautifully appointed, cutting edge residential tower in. the center of Westchester's leading city is genuinely exciting. I have long seen Westchester county as offering among the finest residential housing opportunities in the nation, and now Trump Tower will deliver a completely new dimension in suburban living," he said.

"Trump Tower at City Center will offer the finest in luxury living within a downtown that has come alive with new activity and excitement. Downtown White Plains and City Center have quickly emerged as among the hottest destinations in the metropolitan area to work, play and shop--now with Trump Tower at City Center people will have the opportunity to live in the center of the action."

Cappelli cited the dedication of all the building trades, who have worked professionally and expeditiously to insure that the building kept pace with projected schedules.

"Their dedication allowed us to pour three floors every week, which is quite a feat, " he said.

Mr. Cappelli explained that by topping off Trump Tower in mid-summer, workers will be able to get the building closed-in by November. This will allow interior construction to continue rapidly during the winter months.

"We are confident that we will continue to move forward and be fully ready to begin occupancy next summer," he noted.

The event took place at the new Renaissance Fountain Plaza, constructed by Cappelli, which, since its opening last year, has become a social focal point for residents and visitors alike.

"White Plains has been waiting for several decades to see a redevelopment of these important downtown properties, which are at the very heart of our City," said Delfino, who served as emcee for the event.

"At last it is happening. For many years, White Plains was known as a terrific place to work and shop, now with Trump Tower, The Lofts at City Center and One City Place, it's truly becoming a terrific place to live."

Designed by Manhattan architect Costas Kondylis, Trump Tower at City Center will be ready for summer 2005 occupancy. The building is Trump's first high-rise residential development in Westchester county.

Trump Tower is the final large-scale component of the $350 million City Center project and it promises to be its most spectacular. The Trump Tower condominium residences will feature a long list of amenities and designer finishes, including hardwood floors, granite kitchen countertops and marble bathrooms.

Renaissance Square will rise on a site diagonally across the street from City Center. The project will include a six-story, 175-room full-service luxury hotel, topped by two residential towers with 290 luxury apartments. Including the hotel at the base, each tower will rise to 350 feet. A 28-story office building will be built facing the Hamilton Avenue side of the site, and about 12,500 s/f of street-level retail space will also be created. A four-level, 1008-space parking garage will be constructed beneath the project.

As part of the Renaissance Square, Cappelli will build a block-long "extension" of Court Street, between Main Street and Hamilton Avenue. Construction of this long-sought link in the downtown traffic network will facilitate traffic flow and will provide access for the hotel drop-off and the lobby serving the hotel and residential towers.

Already open at City Center are a half million square feet of retail stores, restaurants, movie theaters and the White Plains Performing Arts Center, as well as One City Place, a 311-unit rental apartment tower. The construction of City Center has served as a catalyst for the rejuvenation of downtown White Plains. Its success has triggered a real estate boom that in less than two years has literally transformed and revitalized the downtown environment.

While the day's festivities initially had all eyes trained on Trump Tower for the raising of an 800 s/f American flag, there was more to come.

As special cannons set up on the top floors of the Trump Tower filled the sky with red, white and blue streamers, all eyes turned to take in the second part of the day's events--the commencement of demolition that will clear the site where Cappelli's new 1.1 million s/f Renaissance Square project will rise between Main Street and Hamilton Avenue.