CHAPPAQUA, N.Y. -- Chuck Napoli, whose development proposal for a portion of downtown Chappaqua received news coverage in 2012, has submitted rental revenue projections for his mixed-used plan.
In a July 9 letter to New Castle Supervisor Rob Greenstein, Napoli projects a total of $3.5 million. This includes $1.32 million for the project's residential component, $1.08 million for a retail portion, $700,000 for a food market section and $400,000 from a regulation soccer field and practice air structure. The revenue estimate excludes a performing arts center included in the project.
The project, which is near Robert E. Bell Middle School, is called The Bell Area Plan. According to minutes covering a 2012 presentation to the New Castle Town Board, it involves installing a two-story parking garage at the site of a Bell school field, which would have a turf field on top of it, along with "market space" -- this includes retail and restaurants -- on the site of the South Greeley parking lot, as well as a performing arts center and apartments. Easements with the town and school district would be needed, the minutes confirm.
Napoli's letter to Greenstein includes several details regarding the proposed structures. The plan includes 39 market-rate apartments, and the food market will be 22,600 square feet. One building, which would contain apartments and restaurant/retail space, would be 36,200 square feet. Another, which would include apartments, retail/restaurant space and the food market, would total 44,600 square feet. There would also be a pedestrian street added, referred to in the letter as "Lois Lane."
Napoli's letter lists four phases for the project.
An update on Napoli's project is scheduled for Town Board work session on Tuesday, July 15, which is scheduled to start at 7:55 p.m. Napoli's letter, which is part of the meeting packet, is available here.
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