The plan calls for the construction of a 280,000-sf office building at his firm's 70-acre property that currently includes 1133 Westchester Ave., a more than 600,000-sf office building RPW Group purchased from IBM a few years ago and repositioned as a multi-tenant building in a project estimated at $115 million. That building is currently 80% leased.

Weisz tells GlobeSt.com that the new office-building project will cost approximately $75 million to build. Also at the property--which is adjacent to Maple Moor Golf Course and at the crossroads of I-287 and the Hutchinson River Parkway--RPW Group has to only secure building permits to begin construction on a 160-room hotel at 1131 Westchester Ave. That project has been estimated at between $30 million and $40 million.

The new office-building project received preliminary inducement from the Westchester County IDA. If the plan's incentive package is finalized, Weisz says his firm will immediately begin the approval process for the project with the City of White Plains. He adds that he hopes to begin construction on the office building in 2009 and complete it by the end of 2010 or early 2011. Construction of the hotel and office building could go on simultaneously. In the past, Weisz has stated that he hoped to begin construction on the new hotel by the spring of 2009. At present, Weisz is in discussions with a number of hotel operators but has yet to select a flag for the property.