Westchester Plans $1.2B Biotech Complex

TARRYTOWN, NY—Westchester County executive Robert Astorino announced Thursday that the county is working to finalize a lease deal with Fareri Associates of Greenwich, CT to develop a $1.2-billion bioscience park on mostly county-owned property in Valhalla, adjacent to the Westchester Medical Center.

Astorino revealed the lease agreement at the annual economic forecast meeting of the Westchester County Association. The project, called the Westchester BioScience & Technology Center, calls for approximately three million square feet of space to be built in phases. The total project site includes 60 acres of vacant county-owned land known as the “North 60″ and an adjacent 20 acres of vacant property owned by Fareri. The 99-year lease deal will go before the Westchester County Board of Legislators next week for review.