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Posted: December 14, 2021
Fareri Associates Awarded $3 Million ESD Grant for Development of Science and Technology Center
Valhalla, NY Fareri Associates has announced that it has been awarded a $3 million grant from Empire State Development (ESD) for Phase One of the company’s North 80 development project in the Town of Mount Pleasant.
Fareri Associates is in the final approval stages for the North 80 project, a 1.2 million s/f science and technology center to be created on an 80-acre site adjacent to the Westchester Medical Center, New York Medical College and the nearby headquarters complex of Regeneron Pharmaceuticals. The project will further enhance the Hudson Valley’s growing reputation as the leading bioscience and medical technology hub in New York State and the Northeast.
“We are very pleased and honored to have received this important grant for our North 80 development. Phase One of this $227 million project is expected to create nearly 490,000 square of innovatively designed buildings whose tenants will bring an estimated 1,177 new jobs to Westchester County and the Mid-Hudson Valley,” said John Fareri, CEO of Fareri Associates.
The award to the North 80 development was among 97 projects in the state receiving $81 million in Empire State Development funds awarded through the Regional Economic Development Council initiative. The awards were announced November 22 by Governor Kathy Hochul.
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