Capelli Enterprises planning another White Plains development.

One of the most prominent development sites in downtown White Plains has been purchased by Cappelli Enterprises, the company said. Cappelli plans to build a hotel, residential condominium and office complex on the property, with the Westin Hotel company already signed on as the hotel's operator.

Louis R. Cappelli, company president, said he expects to present preliminary concepts for the property to the City of White Plains within about 30 days. The 110,000-SF site, which spans the block between Main Street and Hamilton Avenue, is directly across the street from the new $320-million City Center project the Cappelli company is currently building.

The new project, $300 million investment, will include the 200-room hotel, approximately 200 luxury condominiums and about 40,000 SF of street level retail stores.

The newly acquired property, which is currently occupied by a row of one-and two-story retail stores on the Main Street side is otherwise being used as a parking lot, was acquired for $16 million. The Halpern family has owned the property since the 1980s. In the early 1990s Halpern gained city approval for a two office buildings, 221 Main St. and 301 Hamilton Ave., but never moved forward with the plan. A later plan in the mid-'90s for a cinema complex was also planned.

A key aspect of the Halpern plan was the inclusion of air rights acquired from Grace Episcopal Church, which is on an adjacent property. Cappelli said the Halpern plans will be revised, but that the air rights from the church will be utilized in creating the new project.

"This property has been prime real estate for nearly 30 years," Cappelli said. "Now with the construction of our City Center project, the entire Downtown area of White Plains has gained the momentum that was needed for a true re-birth. We had predicted that the investment in City Center would trigger a major downtown revival, and not only is it happening, but we are now active participants with this second site. Other downtown properties have already changed hands recently, and the city will continue to see tremendous new investment downtown largely stemming from its commitment to the creation of City Center."

While details of the new project are still being worked out, Cappelli said that having a first class hotel downtown will provide enormous new economic energy and vitality to the city. The luxury condominium component will bring more new residents to the downtown contributing the 24-hour life the downtown has lacked in recent years. The office component will be built as the regional market for Class A office space improves, as is now being evidenced by the Morgan Stanley relocation to the former Texaco headquarters site.