Westchester Reveals Plans for $1.2B Valhalla Biotech Center

At the Westchester County Association Breakfast in New York, Westchester County Executive Rob Astorino unveiled a plan for a bioscience complex in Valhalla. Developed on 20-acres of land owned by the developer, Fareri Associates, the complex would include a biotechnology research facility, medical offices, a children's science center and supporting hotel, retail stores and restaurants on the Grasslands Reservation. According to a report from The Journal News, Astorino said Fareri Associates was proposing to invest up to $1.2 billion in the complex near the Westchester County Medical Center. The project is subject to approval by the Town of Mount Pleasant and could take 18 months to complete.

"We look forward to working together with the county in developing this unique and exciting Bioscience & Technology Center that will create thousands of new construction and permanent jobs, while positioning Westchester County at the forefront of the region's emerging new economies," John Fareri, president at Fareri Associates, said in a statement.

Westchester County Association President and CEO William Mooney Jr. hoped the proposed development would build upon the county's growing life sciences industry, which includes several Montefiore locations, Memorial Sloan Kettering Cancer Center in West Harrison and Regeneron Pharmaceuticals, Inc. in Tarrytown. "This is a sector that the WCA has fostered over the years," Mooney said. "This project will add to and complement the many world-class organizations … that already call Westchester home."

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IDAofW Approves Incentives Valued at $71.5M

Westchester's Industrial Development Agency (IDAofW) met this month and approved financing and incentives for four major development projects that total $71.5 million in development costs, creating more than 750 permanent and full time jobs in Westchester County, New York. Projects include a family-owned company expanded into a self-storage business, an environmental brown site transformed into new housing and resident parking, prime office space upgraded for high-paying professional jobs and the renovation of one of the county's most iconic tourism destinations, the Ritz-Carlton Westchester Hotel.

"The projects supported by the [IDAofW] today demonstrate the vitality of our local economy and the strength of our job market," said IDAofW County Executive Rob Astorino on the news. "We are proud that these diverse, job-creating projects all have one thing in common: successful partnership with Westchester County."

"The requested Westchester [IDAofW] assistance will enable a $4-million major renovation and upgrade to the Ritz Carlton Hotel and convention facility, which opened its doors in 2007," added Joseph Apicella, executive vice president of the Cappelli Organization, Ritz-Carlton property owner. "This will allow the facility to continue to serve as Westchester's premier tourism and convention hub. In a very competitive regional industry, this much-needed investment will result in job retention and growth of the 350-plus person workforce in downtown White Plains."

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