Westchester County Business Journal 012020

Page 1

PRINT JOURNALISM: BECAUSE IT STILL MATTERS. JANUARY 20, 2020 VOL. 56, No. 3

westfaironline.com

Yonkers Mayor Mike Spano forecasts expanded development in the city.

INSIDE

Development to continue driving success in Yonkers MAYOR SPANO WANTS SPORTS BETTING AT EMPIRE CITY

PAGE

2

ONLY IN AMERICA

PAGE

4

MOUNT KISCO PROJECT

BY PETER KATZ pkatz@westfairinc.com

“I

don’t know how a city can even operate without one,” Yonkers Mayor Mike Spano told the Business Journal about the Yonkers Industrial Development Agency (YIDA) during an exclusive interview reviewing 2019’s economic activity in the city. “Developers can choose to go wherever they want. They can go to Pennsylvania.

They can go to New Jersey. They can go to Connecticut. There are plenty of places for them to go and make their investments. We do everything we possibly can to provide for investment in our community,” he said. Spano, who serves as chairman of the YIDA, reported that in 2019 it provided financial incentives to nearly a dozen projects representing a total private investment of $851 million. Among them: • Extell Development’s Point Street Landing, a mixed-

use project with 1,395 apartments and 48,280 square feet of retail space valued at $502 million. • Rose Associates’ 57 Alexander Street, which will have 440 apartments. • The $56.9 million Parkledge Apartments, which will have 311 units. “The incentives are offset by additional jobs, by bringing people to live in this community who are going to pay their own taxes, make investments in the commu» YONKERS

6

$50M LAWSUIT ACCUSES CAPPELLI-OWNED COMPANY OF UNSOUND BUILDING PRACTICES BY BILL HELTZEL bheltzel@westfairinc.com

WHITE PLAINS HONDA HAS SUED LOUIS CAPPELLI’S LRC CONSTRUCTION LLC and the

developers of the Continuum residential towers in White Plains for $50 million, claiming they built a structure under the dealership’s property that damaged its car repair shop and potentially risked the safety of the apartment buildings. White Plains Honda put Cappelli and an affiliate of LCOR Inc., the Berwyn,

Pennsylvania, real estate developer, on notice in August in a two-page summons filed in Westchester Supreme Court. Since then, court filings have spelled out the full scope of the allegations as well as the defendants’ denials of wrongdoing. The work was not done in accordance with sound construction practices, the dealership states in a Dec. 26 amended complaint, and with “brazen disregard for the safety of persons employed by White Plains » HONDA

6

WE HAVE THE TOOLS TO OPTIMIZE YOUR BUSINESS Dedicated Mobile App • Remote Deposit Capture • Automated Clearing House (ACH) • Wire Transfer Online Banking with Bill Pay • Merchant Credit Card Processing • Positive Pay • Escrow Account Management Call Dominick Petramale, SVP, RBO & Director of Cash Management Services

Serving the Lower Hudson Valley Since 1871 914-248-7272 PCSB.com


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
Westchester County Business Journal 012020 by Westfair Business Journal - Issuu