Westchester in Talks with Mack-Cali on 1M-SF Biomed Park

Deputy Westchester County Executive Larry Schwartz says that county government and the Cranford, N.J.-based real estate investment trust have begun talks on a ground lease for the 60-acre parcel on the Grasslands compound. He notes that only about 35 acres are suitable for development, however.

Schwartz says that Mack-Cali, which has extensive commercial office and flex space holdings in Westchester County, has proposed building the biomedical complex in phases, with each phase consisting of the construction of a 250,000-sf building.

Last year, Westchester County's Office of Economic Development solicited interested developers and eventually issued RFPs on the project built on what it termed "the North 60" at the Grasslands property. From about 15 interested parties, the county eventually pared the list down to two finalists, Mack-Cali and LCOR, the owner of the Landmark at Eastview biotech complex in Mount Pleasant.

Schwartz says that the county hopes to attract new biotech and biomedical firms to the project, along with users affiliated with the Westchester County Medical Center and New York Medical College, which is located at the Grasslands complex as well. In addition, the American Health Foundation, which also has operations at Grasslands, is interested in the biomedical development, according to Schwartz.

The Mack-Cali ground lease, if finalized, would have to meet with the approval of the Westchester County Board of Legislators. Eventually, the project would require environmental and zone change approvals. Schwartz says that a Payment in Lieu of Taxes arrangement would be arranged with the Town of Mount Pleasant if the project was to move forward.

He adds that the initiative would likely take at least a year to perhaps as long as two years before construction would begin.

Mack-Cali officials were unavailable for comment on the project at press time.