Cappelli Returns to Downtown New Rochelle With New Project
Built in 1924, the Neo-Classical style building housed the operations of the Standard Star daily newspaper, which left the building in 1975.
NEW ROCHELLE—Louis Cappelli, who led the effort to revitalize Downtown New Rochelle in the late 1990s, has returned to the Queen City with a new project as the city embarks on a new redevelopment campaign.
Cappelli, who built New Roc City and Trump Plaza in New Rochelle beginning in the late 1990s, has begun construction on The Standard, a new 14-story residential building located on the site of the former Standard Star newspaper building in downtown New Rochelle.
Executives of the Cappelli Organization joined with New Rochelle city officials recently for the groundbreaking of the project that spans the block between 251 North Avenue and LeCount Place. 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 seven two-bedroom units.
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.
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, company officials say. Cappelli played a key role in the revitalization of the Downtown New Rochelle from 1997-2007. During that period, the company built approximately 2 million square feet of residential, entertainment, hotel, retail and garage properties in Downtown New Rochelle that included New Roc City, a 500,000-square-foot entertainment center with a movie theater and a 70,000-square-foot Stop and Shop. Cappelli also developed The Lofts at New Roc, a 125-room Marriott Residence Inn and the 40-story, 194-unit Trump Plaza Condominium tower, which includes a 140,000-square-foot retail center.
Cappelli, chairman and CEO of the Cappelli Organization, says, “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. The site of The Standard is an important in-fill parcel linking the New Roc complex to North Avenue. We have owned the site for years and now is the time for a creative project that will contribute new life to this strategically important area.”
He notes that retaining the classic facade of the old newspaper building preserves a link to the city’s past while adding a unique architectural element to the new building.
Amenities at the building will include a rooftop deck with kitchen and cooking area; fitness center; business center/meeting/conference room; package concierge; virtual doorman; and a lounge with full kitchen, dining area, a pool table and TV sets. There will also be an outdoor seating area with a fire pit on the ground floor located just off the community room.