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Owner of Gateway Building Plan Major Capital Improvements

WHITE PLAINS-The ownership of the Gateway office building here reports it plans a major capital improvement program for the 19-story, 530,000-sf building. The program's launch coincides with marketing efforts to lease up the first significant vacancy at the property in some time.

By John Jordan | Updated on November 04, 2002

WHITE PLAINS-The Gateway office building will be getting a new look thanks to a significant capital improvement effort at the 530,000-sf, 19-story office building in downtown White Plains.

The building, which has boasted a 95% occupancy rate for the past few years, has been a mecca for the legal and finance sectors. The capital improvement program comes at a time, however, when the building owner is seeking to fill its first significant vacancy (63,000 sf) in a number of years.

The Alaska Permanent Fund, the state-run pension fund for Alaska residents that owns the property, plans a major renovation of the building’s lobby, cafeteria, elevator cabs and common areas. The granite flooring in the lobby is being completely restored and touch screen directories and displays will be installed on the lobby walls, according to officials with Insignia/ESG, the exclusive leasing and managing agent for the Gateway property. The reception desk is also being redone with glass panels and brushed aluminum laminate cladding. New halogen accent lighting will be installed to highlight the lobby’s solid wood paneling. The building’s security is being upgraded with a new card access system and recording security cameras. Perkins Eastman Architects has been retained to direct the renovation program. No cost figures on the renovation effort were released.

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