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Philippidis and Westchester County Business Journal reporting on WHITE PLAINS WEEK reports Ridgemour Properties captures key Conroy Corner.

Prize that had been holding up Ridgemour move on Main now reported in contract with the Manhattan developer.

Ridgemour files preliminary site plan with Building Department

Special to WPCNR

By John F. Bailey

CityLine: July 20, 2000 -- Public Access Channel 71 Studios & City Hall

Alex Philippidis, Editor of The Westchester County Business Journal, reporting on the WHITE PLAINS WEEK television show, disclosed Friday that Ridgemour Properties is "in contract" with the owners of the key corner properties located on Main Street on the corner of E J Conroy Drive.

The property had been sought by Louis Cappelli to enable the Valhalla developer to control the street ambience of his proposed City Center at White Plains. Now, Philippidis reports, Cappelli has apparently dropped out of the rich bidding for the property which consists of Citibank, the Main Street Book Store, and a delicatessen. Bidding had risen, according to WPCNR sources linked to the Cappelli Enterprises organization as high as $3 million with Cappelli offering $1 a year rentals in his City Center project.

The television show taped Friday morning can be seen Monday evening at 7 PM on Public Access Channel 71, and again on Fridays at 7:30 PM on 71.

City Hall also reported Friday that Ridgemour had filed their preliminary site plan for the former A & P site on Main Street (248-252 Main Street) with the Planning Department. The plan calls for 160 apartments totaling 420,000 square feet with parking for 250 cars to be contained underground, with a hotel of 150 rooms and parking for 190 cars. The apartment tower is planned to be 30 stories and is envisioned as luxury condominiums.

City Hall expects at this time that Ridgemour plans to present their plans at the August 6 Common Council meeting.

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