Poughkeepsie, NY According to the Hudson Valley Economic Development Corp., (HVEDC) John Fareri, CEO of Fareri Associates L.P., has joined its board of directors.

Fareri is a developer, owner, and manager of commercial, industrial, and residential real estate in Westchester County and the Lower Hudson Valley and Fairfield County, Conn.

The company is in the final approval stages for the North 80 project, a 1.2 million square foot 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. Phase One of the $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.

To date, Fareri and its affiliated companies have developed, repositioned and/or currently own approximately $1.5 billion and 5 million square feet of real estate. The developments and investments include retail locations, mixed-use properties, office buildings, industrial properties, medical buildings, townhouse developments, residential-rental projects, and single-family homes.

Fareri Associates is a family-owned and operated company based in Greenwich, Connecticut. The firm specializes in real estate development, investment and construction in Westchester County, N.Y., and Fairfield County, Conn. Recent projects include The Harbor at Greenwich, Old Track in Greenwich, Conn., Purchase Professional Park in Harrison, N.Y., Greenwich Office Park, and 19 Broadhurst Ave. in Hawthorne, N.Y.

Fareri is also well known for his charitable work in New York and Connecticut. Fareri and his wife, Brenda are the founders of the Maria Fareri Children’s Hospital, a $200 million facility at the Westchester Medical Center campus in Valhalla, N.Y., that was built in honor of their youngest daughter, Maria.

“John Fareri has an incredible record of economic development, including adding important tax ratables to the region and helping to create thousands of jobs,” said Mike Oates, president and CEO of HVEDC. “HVEDC is excited to welcome him to our Board of Directors and looks forward to his insights.”