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Latimer Signs Lease For $1.2B, 60-Acre Biotech Center Bringing Thousands Of Jobs To Westchester

County Executive George Latimer makes the announcement.
County Executive George Latimer makes the announcement. Video Credit: Official Westchester Gov Video

County Executive George Latimer has officially signed the lease for a biotech center that will bring thousands of jobs to the Westchester area, he announced during his annual speech to members of Westchester County Association on Thursday, Jan. 10 at the Westchester Marriot in Tarrytown.

The biotech center, authorities say, will bring 8,000 permanent jobs as well as 4,000 construction jobs to the area. Worth $1.2 billion, the 99-year lease with developer Fareri Associates is for 60 acres of land in Valhalla owned by the county on the Grasslands campus near Westchester Medical Center.

The biotech center is also expected to generate as much as $7 million in rent paid to the county as well as $9 million in new taxes for local schools and governments.

“At long last, we can move forward with what we are confident will be a major economic engine for Westchester County and the region,” said Fareri Associates President John Fareri. “The concept for The North 60 has been in the works for a decade, and now we are ready to see our vision come to life. O

"ver the next several months, we will be preparing the necessary documents to commence the environmental review by the Town of Mount Pleasant. We appreciate the efforts of County Executive George Latimer and his administration in advancing this innovative and important project.”

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