On April 3, 2017, the Westchester Board of Legislators and County Executive Rob Astorino announced the successful agreement to move forward with plans for the Westchester BioScience and Technology Center on the county-owned property next to the Westchester Medical Center.
The vacant property, commonly known as the “North 60” property is to be leased to Fareri Associates to construct a $1.2 billion, 3 million square foot complex. Fareri, a premier developer with over 40 years of experience will contribute an adjacent 20 acres of property to the project. As part of the agreement, Fareri will pay rent, including a percentage of gross annual income, real estate taxes, utility charges and permitting fees. At the same time, Fareri will invest $40 million is site infrastructure, roads, water supply, sewer and storm water management systems.
The development comprises three major, multi-phase components: West Research Village, Central Village and East Research Village. Fully built out, the new center will include 2,252,600 square feet of biotech/research space; 400,000 square feet of medical offices; a 100,000-square-foot hotel with 100 rooms; 114,000 square feet of ground-level retail space, and a 34,000-square-foot Children’s Living Science Center, a unique complex designed to promote the improvement of the health of children in the region through dynamic and interactive educational programming.
The first phase of the project will include 220,000 square feet of biotech/research space, 100,000 square feet of medical space, 80,000 square feet of shopping/ground-level retail space, and a 100,000-square-foot hotel for a total of 500,000 square feet.
The plan will incorporate many sustainable features, such as green roofs, gardens, preservation and improvement of on-site wetlands, bio-swales and rain gardens, interpretive trails and preserving and improving forest land on site. Approximately 54% of the property—or 43.6 acres—will be preserved as open green space.
“This project is the largest of its kind every approved by Westchester County, said County Legislator and Minority Leader John Testa (Cortlandt/Peekskill/Yorktown). It will make Westchester one of the top bio-technology centers in the county while bringing in $9 million in tax revenue, $ 7 million in rent annually for the county, not to mention the boost to the local economy, and tax base for the school district and town. The biotech center will create 4,000 permanent high level jobs and 8,000 construction jobs, added Testa.”
The project will now move through the local planning process in the Town of Mount Pleasant where North 60 is located.
• $9 million in estimated new real estate taxes annually to Westchester County, the Town of Mount Pleasant and the Mount Pleasant School District (there is no residential component, so the complex will not have any impact on the class sizes of local schools);
• $7 million in estimated new annual rent to Westchester County;
• Approximately 4,000 new construction jobs;
• More than 8,000 new permanent jobs from entry-level through the professional ranks;
• Forging relationships between the Westchester Medical Center and providers and inventors of cutting-edge medical technologies and innovations;
• Creating job opportunities for students in the emerging bioscience field by forming partnerships with nearby Westchester Community College, Pace University and New York Medical College;
• Creating a new Children’s Living Science Center that will provide children with a personal awareness of health issues.