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Westchester County Signs 99-Year Lease for Development of $1B Bioscience Park

Fareri Associates president John Fareri tells Globest.com that the first phase of the project would involve the development of approximately 500,000 square feet of space, including an approximately 135-room hotel, biotechnology-medical and retail space.

Westchester County Executive George Latimer (left) signs lease with Fareri Associates president John Fareri. Westchester County Executive George Latimer (left) signs lease with Fareri Associates president John Fareri.

TARRYTOWN—At a meeting of the Westchester County Association on Thursday, Westchester County Executive George Latimer announced the county had signed a 99-year lease for 60-acres of county-owned property to be developed as a $1.2-billion biotechnology park that could total between 2 million to 3 million square feet of mixed-use space.

The concept of developing a bioscience facility in Westchester has been discussed for about a decade, but took hold in January 2016 when then Westchester County Executive Robert Astorino announced the county hoped to finalize a long-term lease deal with Fareri Associates of Greenwich, CT to develop the bioscience park called the “Westchester BioScience & Technology Center on county-owned property called the “North 60.”

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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