Update on Affordable Housing/Ritz Carlton Agreement in White Plains, NY 10601
By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
In a previous blog I commented on the need to enforce affordable housing quotas in order to maintain a vibrant mix in communities that are rapidly becoming unaffordable for working families. In an interesting turn of events, Mr. Cappelli, the super-developer of the Ritz Carlton, Trump Tower and City Center, has bowed out of a potential deal withe White Plains regarding a three acre lot of prime real estate surrounding the metro-north train station. Apparently, Mr. Cappelli was offended by the stony faced city council when they insisted that 24 units of affordable housing be built before he opens the second tower or the Ritz Carlton. Since he was supposed to have all of the units built prior to opening the first tower, and since Mr. Cappelli has known since the beginning of the Ritz C...
Comments
7