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Struever Fidelco Cappelli LLC Continues Community Outreach Program to Discuss Conceptual Master Plan for
Southwest Yonkers

Next Community Meeting Scheduled for 6/28
  YONKERS, NY (June 14, 2006) - Continuing its ongoing community outreach program, Struever Fidelco Cappelli LLC, (SFC) has announced it will hold another in a series of community meetings to discuss and obtain input on the conceptual master plan for the 450 plus acres in the southwest corridor they agreed to study as part of the Master Developers agreement with the City of Yonkers.

The next community meeting, which is open to the general public, will be held Thursday, June 28 from 6:30 pm to 8:30 pm at the Riverfront Library, Yonkers Public Library, One Larkin Plaza, Yonkers. More than 100 residents attended a previous community meeting that SFC held on May 20th at the Riverfront Library. All of the community suggestions will be indexed by the developer's architects and planners and placed on their web site.

Over the past three months, SFC has made presentations about the $3.1 billion redevelopment plan to a wide range of community groups and business organizations in Yonkers. The groups include the Yonkers Chamber of Commerce, Westchester County Board of Realtors, South Broadway Business Improvement District, Lincoln Park Taxpayers Association, Hudson River Community Association of Northwest Yonkers and the Ludlow Park Association. SFC has also made presentations at the Yonkers Business Week event held in April.

The June 28th meeting will begin with registration at 6:30 pm. Attendees will have the opportunity to participate in "breakout sessions" to discuss various aspects of the plan with representatives from SFC and their planning and architectural consultants. Topics to be covered in the sessions include open space and the riverfront; history and preservation; development issues; transportation; and arts and culture. At the conclusion of the breakout sessions, attendees will reconvene in the library auditorium to hear the collective thoughts from each breakout group.

"The goal of our community outreach program is to gather information from the public as we move forward in formulating our conceptual master plan for this unprecedented development proposal. Our last community meeting was well received by the public and provided us with valuable insight into the key issues and concerns of Yonkers residents," said Joseph Apicella, Executive Vice President of Cappelli Enterprises, one of the partners of SFC. "We look forward to holding several more of these information gathering sessions in the months ahead, as well as to continue meeting with community and business organizations," he added.

"We recognize the importance of securing community buy-in and value the suggestions we receive from the public. There are many different stakeholders in Yonkers who have creative ideas for improving the city, but are not always vocal at traditional public hearings," said Peter Klein, Vice President, Fidelco Realty Group.

Three highly-regarded development companies -- Westchester-based Cappelli Enterprises, Struever Bros. Eccles & Rouse of Baltimore, and Fidelco Realty Group of New Jersey -- have joined forces in Yonkers to develop a conceptual master plan for the redevelopment of key areas of the downtown, the riverfront and the Nepperhan Valley corridor. The conceptual masterplan will serve as a guide for redevelopment projects that promise to transform the city's central business core, two miles of its industrialized riverfront and extensive areas along Nepperhan Avenue, Yonkers Avenue and other major downtown streets. It also includes construction of a long-awaited minor league baseball stadium on the Chicken Island site and a regional entertainment and retail center next to City Hall.

The overall value of all the redevelopment projects that will ultimately be included in the plan is estimated to be $3.1 billion, by far the most extensive such revitalization effort ever undertaken in Westchester and one of the largest in the New York metropolitan area.

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