Developer inks 99-year lease for new $1.2B biotech center in Valhalla

TRD New York /
Jan.January 17, 2019 12:01 PM

A $1.2 billion biotechnology center is slated to rise in Valhalla, the Westchester County Business Journal reported. Westchester County Executive George Latimer signed a 99-year lease last week with developer John Fareri of Fareri Associates for 60 acres of land at the Grasslands Reservation, according to the outlet. That land for the so-called North 60 project, as well as 20 acres of adjacent land that Fareri Associates already owns, is where the future Westchester Bioscience and Technology Center will be constructed. The center, which still requires local approval, won’t be far from the Westchester Medical Center and Maria Fareri Children’s Hospital. A proposal to include housing in the development was dropped for the time being. “It’s going to be a very walkable community, so it will actually decrease traffic for the medical center and for the tenants that go there,” Fareri told the outlet. [WBJ]


Related Articles

arrow_forward_ios
Lana Zakocela and Justin Etzin in front of their former New Castle home (Credit: Getty, Zillow)

The Seychelles to auction off estate at a discount after diplomat’s divorce

Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more

Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more

Paul Simon’s Connecticut estate is on the market for $14M

Paul Simon’s Connecticut estate is on the market for $14M

Westchester & Fairfield Cheat Sheet: JPMorgan to sell One City Place in White Plains, Greenwich homeowners get used to price cuts… & more

Westchester & Fairfield Cheat Sheet: JPMorgan to sell One City Place in White Plains, Greenwich homeowners get used to price cuts… & more

This new bill is taking aim at property taxes for golf courses — including Trump’s

This new bill is taking aim at property taxes for golf courses — including Trump’s

Placeholder image

Rockland County’s troubled Time Nyack Hotel gets a new owner

Placeholder image

Edge-on-Hudson developers enlist architect for parks and paths

Placeholder image

Report finds Norwalk and Stamford have highest rents in Connecticut

arrow_forward_ios