I cant get into who else is involved, but there are big investors who will put substantial money into this project.. The Cappelli Organization is redeveloping a former shopping plaza where they plan to develop Hamilton Green, an approved $600 million mixed-use complex featuring four residential towers. It straddles two city blocks, with Martin King Jr. Boulevard running under an elevated section of the garage. Now, 50 years later, thanks to the vision of the City of White Plains and the assistance of Cuddy & Feder, the area will not only see new life, but will launch an exciting new era of development: White Plains' first transit-oriented development, part of a new TD . Closing for redevelopment on March 1st. We have worked over the past few years to acquire the Macys fee interest at the site, along with the leasehold interest of the former Sears. So, thats a positive. Together, the two major projects will effectively complete the transformation of the downtown that began as an urban renewal project more than 50 years ago." No purchase price was reported. Plenge said that they anticipate closing a portion of the Galleria early next year to begin the redevelopment. Set to close for good on March 1st. I dont think anyone thinks that that garage is worth keeping. WHITE PLAINSThe long-promised redevelopment plan for The Galleria at White Plains, which was the focal point of the urban renewal of the downtown district in the late 1970s and early 1980s, is taking shape. Singh said he has seen ups and downs in businesses over the last decade. The Galleria Bronx River Parkway West Post Road Maple Avenue N 287 W E S Scarsdale Larchmont Mamaroneck Greenwich Rye Harrison Purchase Chappaqua Armonk On the heels of the closings of numerous tenantsincluding anchors Sears and Macysowner Pacific Coast Retail Partners (PCRP) appears set to invest in a multi-million dollar overhaul. He said he'll go to The Westchester mall a few blocks away when the Galleria is no more. Store employees were busy helping with last-minute gifts and the food court was typically crowded. Together, the two major projects will effectively complete the transformation of the downtown that began as an Urban Renewal project more than 50 years ago." A new name for what was Galleria Shopping Centre (1972), already under redevelopment and will open in phases over next years. Cappelli is credited with jumpstarting the renaissance of downtown White Plains with its City Center retail and residential project. Working with our new partners, we will reimagine the site as a vibrant mixed-use project that will be centered on residential development and amenity-based retail.. In a conversation with the Business Journal Wednesday, Roach described whats taking shape as what could be the biggest development project for the city. The Galleria redevelopment comes as our company is beginning the redevelopment of the former White Plains Mall property into Hamilton Green, also a mixed-use project." Plenge said that. The Galleria was constructed adjacent to a large two-block-long parking garage that is connected directly to the mall at various levels. Closing for redevelopment on March 1st. It declined to make further comment, citing that plans are still evolving. Previous anchors at the Galleria included Abraham & Straus and JCPenney. The Business Journal talked to Roach before and after a news conference that was held to announce that installation of solar panels is underway at various city buildings. Only one fountain was still on :( The Galleria at White Plains, White Plains NY. The owners of T he Galleria at White Plains are teaming up with two prominent development firms to explore mixed uses for the retail center that has been a downtown draw for the last 42 years. The plan involves the demolition of the Macys along Court Street. International Womens Day Continues with Bevz Talks. Some of the last small chain stores operating in February 2023, the month before the mall's closure include Claire's, Famous Footwear, GNC, Jimmy Jazz, Kay Jewelers, LensCrafters, Lids, and Rainbow. This project is going to take a while," Roach said. Its going to be opened up, so youll be able to walk through it. Last month, Pacific Retail Capital Partnersand Aareal Bank announced they were taking a first step toward redeveloping the property by forming a joint partnership with SL Green Realty Corp., which invests in shopping centers and office buildings in the metro region, and the Cappelli Organization, long a prominent developer in Westchester. (Pics Taken 2/24/23) comments sorted by Best Top New Controversial Q&A Add a Comment More posts you may like . White Plains NY. In its announcement, Pacific Retail Capital stated that with its new partners it is dedicated to creating a unique and strategic vision through master planning efforts and cutting-edge design for the Galleria at White Plains to transform it for the next generation., We are extremely pleased for the opportunity to join with SL Green, Aareal Bank Group and Pacific Retail Capital Partners in the redevelopment of The Galleria site, said Louis R. Cappelli, Chief Executive Officer of The Cappelli Organization. 2 (Rockville, Maryland) . The new store will be better than this one.". The announcement follows another major mixed-use redevelopment enterprise that is in progress, at the former White Plains Mall shopping plaza, located a short distance from The Galleria. The City of White Plains owns the adjacent 2,800-car parking garage. ft. of gross leasable area across four floors. [4] The west anchor JCPenney closed on April 28, 2001, and was left vacant until September 2003 when Sears moved in. the people there say they need "more green space" when white plains has a billion parks already. Bloomy Cheese & Provisions to host grand opening for Dobbs Ferry Finding the Wright stuff in a Pound Ridge contemporary, Valhalla health benefits business accused of avoiding $6.7M in judgments. He has been a longtime critic of the stark exterior of the existing mall. With our experienced real estate partners, the new masterplan and design will build upon the remarkable renaissance under way in Downtown White Plains, said Plenge. Copyright Westfair Business Publications, White Plains Galleria and municipal garages likely to be demolished. They wanted to get Sears out for a while, and now Macys.. The tunnel over Martin Luther King Boulevard that runs through the Galleria will be brightened and made more appealing as well. He said that as owner of the municipal garage adjacent to the mall, the city has a distinct interest in the property. . Pacific Retail announced the purchase as one of three regional malls totaling 2.8 million square feet it added to its portfolio at the time. 100 MAIN STREETWHITE PLAINS, NY 10601MAP IT, GUEST SERVICES: 914.682.0111SECURITY: 914.682.0111, on Pacific Retail Capital Partners and Aareal Bank Group Form a Joint-Venture with SL Green Realty Corp. & The Cappelli Organization to reshape the future of White Plains, on BREAKING NEWS: White Plains Galleria may soon be making way for major development project, on Macys sells White Plains store to Galleria owner for $27 million, to remain open, on Galleria: New owner may add new uses, events, Pacific Retail Capital Partners and Aareal Bank Group Form a Joint-Venture with SL Green Realty Corp. & The Cappelli Organization to reshape the future of White Plains, BREAKING NEWS: White Plains Galleria may soon be making way for major development project, Macys sells White Plains store to Galleria owner for $27 million, to remain open, Galleria: New owner may add new uses, events. the westchester mall is high end. Please check back with https://www.realestateindepth.com for further updates. 3 Westchester Park Drive. Trump Park Condominium 100 Trump Park Shrub Oak, New York 10588 . Martin Luther King Blvd. Plans are being created to redevelop the Galleria shopping mall in downtown White Plains into a massive mixed-use project that could involve demolishing part or all of the structure, according to White Plains Mayor Tom Roach. Dating back to early 2021, plans were discussed by management and shared with the public of the potential for redeveloping the White Plains Galleria shopping mall for what was being referred to as a 'massive mixed-use project. SL Green is the largest owner of office real estate in New York City and one of the largest in Westchester County. With a proven track-record of evolving and repositioning properties and a keen focus on unlocking the value and enhancing the quality of its growing portfolio, PRCP, together with its new partners, is dedicated to creating a unique and strategic vision through master planning efforts and cutting-edge design for the Galleria at White Plains to transform it for the next generation. The mall's owner, Pacific Retail Capital Partners (PRCP), said in a statement that the Galleria is slated to cease business as of March 2023 to prepare for redevelopment. On November 10, 2020, it was announced Sears would close. with this mall closing and many other businesses leaving, people now have to go all the way to yonkers or new rochelle to shop. Pacific Retail Capital Partners (PRCP) and Aareal Bank, owner of The Galleria at White Plains, took a major step in securing the future success of downtown White Plains, New York, today forming a new joint venture partnership with two of the most prominent players in the White Plains and NYC Metro real estate market: SL Green Realty Corp. and the Cappelli Organization. International Womens Day Continues with Bevz Talks. Tav1 Development. Stewarts Brings Back Fan-Favorite Ice Cream for Limited Time! Write CSS OR LESS and hit save. We understand the difficulty posed by transitioning," the statement said. If you didn't have money, you hung out there. Together, the two major projects will effectively complete the transformation of the downtown that began as an Urban Renewal project more than 50 years ago, Cappelli stated. The $650 million redevelopment two. Two of the chief anchorsMacys and Sears have both shuttered stores there. 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