News 12, Journal News & Yonkers Tribune reporting that Louis Cappelli is coming to Yonkers, NY

News 12, Journal News & Yonkers Tribune reporting that Louis Cappelli is coming to Yonkers.

News 12 Westchester, The Journal News & Yonkers Tribune have reported that developer Louis Cappelli is coming to Yonkers. Yonkers Tribune originally had the scoop on Friday. There will be a press conference to announce this on Thursday. The project could be $3 Billion Dollars, that is five times Ridge Hill. It could be the Ballpark, Affordable Housing & Retail.

Don’t forget Cappelli is connected with Donald Trump & Al Pirro. Cappelli has gotten tax abatements in other cities in Westchester. He gives major contributions to the politicians as well. We need development in our city to build our tax base, but the right development. Where the developer pays full taxes & doesn’t get tax abatements or pilots. No sweetheart give-away deals to developers. Dee Barbato is skeptical, but she believes the City should get full taxes for any development. Majority Leader Patricia McDow says she is supportive, but doesn’t want the project to be too big & that McDow pointed out "this is not White Plains". Robertson sees this as a win-win project for Yonkers.

Cappelli’s lawyer is Al DelBello. Cappelli is in a join venture with Struever Fidelco LLC, the joint venture between Baltimore developer Struever Bros. Eccles & Rouse and the New Jersey-based Fidelco Group. Other big-name local developers also could be brought in, the sources tell The Journal News. We hope the community will be involved in the process & that it will be an open & transparent process.