Westchester County Business Journal 122914

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December 29, 2014 | VOL. 50, No. 52

YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS | westfaironline.com

BREAKTHROUGH IN 10-YEAR STRUGGLE

INSIDE

Town approves retail zone at Chappaqua Crossing

T

SPECIAL REPORT• 11

NEWSMAKERS • 16

ENVIRONMENTAL LION

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FACES & PLACES • 23 Robert F. Kennedy Jr. at work at Pace Law School in White Plains. Photograph by Bob Rozycki

County executives push Tappan Zee funding idea BY MARK LUNGARIELLO mlungariello@westfairinc.com THE ELECTED LEADERS OF ROCKLAND AND WESTCHESTER COUNTIES say they have the answer to the multibillion-dollar question of how to pay for the in-construction Tappan Zee Bridge replacement: Use half of the $5 bil-

lion the state nabbed in a settlement with two international investment banks. Rockland County Executive Ed Day and Westchester County Executive Rob Astorino, both Republicans, held a press conference Dec. 22 on the banks of the Hudson River near the bridge, calling on the state to use $1.95 billion it received in a settlement with BNP Bridge, page 6

BY JOHN GOLDEN jgolden@westfairinc.com

en years after their $59 million purchase of the landmark Reader’s Digest Association property in Westchester, Connecticut developers have gained town officials’ support for a retail shopping center on the office campus where a Whole Foods grocery is slated as anchor tenant. The New Castle Town Board’s recent action follows a decade of board meetings and public hearings dominated by community opponents of redevelopment on the 14-acre campus renamed Chappaqua Crossing, state and federal lawsuits and at least eight tax certioraris brought by a frustrated owner-developer against the town, and the bankruptcy of Reader’s Digest five years ago that allowed the publishing company to break its anchor lease for 287,000 square feet of space in the 662,000-square-foot office complex. New Castle Town Supervisor Rob Greenstein, a vocal critic of the Chappaqua Crossing project before his election to town office, recently called it “the longest and most controversial land-use application in our town’s history.” For the property’s owner, Summit Greenfield Partners, that application also has been a costly one. The partners over the decade have spent in excess of $2.5 million in consulting, legal and professional services fees, Summit Greenfield spokesman Geoffrey Thompson said. The town board at a special meeting Dec. 18 approved a special retail zone at Chappaqua Crossing, which Summit Greenfield Partners acquired in December 2004. The town board in 2011 approved 111 units of multifamily housing on the site, scaling back Summit Greenfield’s initial proposal to build 348 townhouse and condo units. New Rochelle, page 6

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