With an ongoing commitment to the renewal of Downtown White Plains, the owners of The Galleria at White Plains and two of the region’s most well-known developers have formed a joint venture partnership to reimagine the roughly 10-acre mall site.
Mall owners Pacific Retail Capital Partners (PRCP) and Aareal Bank are combining forces with SL Green Realty Corp. and the Cappelli Organization to help shape the future of the city’s evolving business district.
The Galleria, an 870,000-square-foot, 85-store complex that was launched to much anticipation in 1980, is now being envisioned as a mixed-use project that is centered on “residential development and amenity-based retail,” according to a statement by the new partnership.
Louis R. Cappelli, CEO of the White Plains-based Cappelli Organization and builder of both the 46-story Ritz-Carlton towers at Renaissance Square and the City Center that opened back in 2003, says that an overhaul of The Galleria property will be a tremendous boon for the city.
“The reimagining of this property is integral to the dramatic transformation of Downtown White Plains, which is well underway,” says Cappelli. “We are fortunate to be able to play a role in recreating the property with mixed uses that will link the city’s transit center with the Mamaroneck Avenue corridor.”
The announcement follows another major mixed-use redevelopment enterprise that is in progress, at the former White Plains Mall shopping plaza, located a short distance from The Galleria. A development-and-construction team from the Cappelli Organization is behind the $600 million project, known as Hamilton Green, which will feature residential, retail, and restaurant space.
The first steps toward realizing the strategic vision for The Galleria will begin soon, says Steve Plenge, CEO of PRCP, where a master plan using cutting-edge design will be implemented to reshape the aging mall space.
“The existing Galleria at White Plains has been a community staple for many years,” Plenge says. “We anticipate closing a portion of the mall in early 2023 to evolve the asset and rebalance the mix of uses through a transformative development to meet the needs of the next generation.”