Q&A

The North 60 is the commonly used name for 60 acres of undeveloped land at the north end of the 512-acre Westchester County-owned Grasslands Reservation in the Valhalla hamlet of the Town of Mount Pleasant. Grasslands includes the Westchester Medical Center and the New York Medical College, as well as a variety of county uses.
Fareri is proposing an investment in Westchester’s future. By combining 20 acres that Fareri owns with the County’s adjacent North 60 site, he will create a BioScience & Technology Center that will position Westchester County to be at the forefront of the bio-tech and medical science industry. The competition for the jobs and tax revenues that this industry produces is fierce. Westchester currently has a significant biotech sector hub and cluster with Regeneron, Acordia and NYMC Bio Incubator. This project will expand Westchester County’s position as a major biotech and technology hub.
The combined property is strategically located in the center of Westchester, with access to major highways, including the Sprain Brook Parkway and Route 9A, and is in close proximity to Metro-North, making it ideal for medical and scientific professionals to commute easily to and from the property.

The bio-medical field is one of the most robust and fastest growing sectors of the region’s economy and Westchester is leading the field. The proposed partnership between Westchester County and Fareri is designed to take advantage of a once in a generation opportunity. Working closely with the County and the Town of Mt. Pleasant, Westchester Medical Center, New York Medical College, Westchester Community College, Pace University and the other fine educational institutions throughout the County, as well as with help from the County’s professional and business associations, Westchester has an unparalleled opportunity to become the region’s leader in the ever burgeoning and competitive field of bio-technology and medical research.

Not only will this project be a natural complement for the Medical Center and the Medical School, it will also create a much needed, and recurring new revenue stream for the County, in the form of percentage rent estimated to be approximately $7 million at full build out and approximately $9 million in local, county and school taxes, with zero burden to the school districts.

But maybe most important of all will be the hope and opportunity this unique project will bring to the young people of our County. In addition to the college level and professional jobs being created, there will be a tremendous need to fill thousands of higher paying, non-college, career-oriented jobs with employers ready, willing and able to hire our Westchester young people. With specific training needs being identified by the companies in the Bio-Science Village, and that specific coursework being delivered by our local institutions, we may finally offer hope to our young people which currently does not exist.

It is, in so many ways, an investment in Westchester’s future.
The project’s approximately three million square feet will include biotech-medical technology space, research and medical office space; neighborhood-style retail space; a hotel with conference facilities; a health and wellness center; structured parking; and a first-of-its-kind Children’s Living Science and Learning Center. This unique facility will create dynamic, interactive and powerful educational experiences focused on influencing behavior and minimizing future health risks of both children and adults, as well as providing career training and job readiness programs in the bio-tech and research fields for local young people.
No. The retail space will be neighborhood-style retail and support space intended as an amenity for the people working on the site. All retail space will be designed to be compatible with and complimentary to local existing retail in the hamlets.
At this time the plan does not include housing, as housing would need a revision of the current lease between Fareri and the County. If, during the local approvals process, Fareri and the Town determine that certain types, sizes and numbers of housing units would be a positive for the Town and the North 60, Fareri may go back to the County to request a lease revision. But at all times and in all ways the North 60 will remain committed to the development of a bio-science and research development consistent with other research and office complexes in the area, including the nearby Landmark at Eastview.
Zoning and other municipal approvals are expected to take approximately 12 to 18 months. The first phase of construction, including infrastructure, is expected to begin in the Fall of 2020.
Fareri Associates, based in Greenwich, is a diversified real estate and development company, with over 5 million square feet of space constructed, completed and in development. Founded and headed by John Fareri, who was born and raised in Westchester, the company enjoys a reputation as a high-quality builder of both commercial and residential properties in the Westchester-Fairfield area. Among its property portfolio, the company owns and manages 19 Bradhurst Avenue, a medical and research building across the Sprain Brook Parkway from the Medical Center. At 220,000 square feet, it is the largest facility of its kind in Westchester. Additionally, Mr. Fareri and a partner recently completed an 85,000 sf. state-of-the-art medical facility on Westchester Avenue in Purchase. John Fareri and his wife, Brenda, are also well known for their personal commitment and dedication to the creation of the Maria Fareri Children’s Hospital at the Westchester Medical Center.
The company has an in-depth knowledge and understanding of the Grasslands Reservation and a track record of success in working with the county and the Medical Center. Its ownership of the adjacent 20-acre parcel greatly enhances the development options for the site and provides access to Route 9A, the primary commercial traffic artery linking the area to I-287 and points both north and south. Importantly, Fareri has the financial ability to take on a project of this scope.
Fareri is prepared to provide funding for infrastructure improvements and enhancements required to develop the site including, but not limited to: sewer, water, storm-water run-off, traffic, safety, wetlands and other environmental issues.
Because of the size, scope, time and required investment, Fareri was awarded a 99-year lease by a unanimous vote of the Westchester County Board of Legislators. There is precedent for the County to award long-term leases on County-owned land.
The county will receive up to (6) six percent of the annual revenue generated by the project, depending on the uses. When fully developed, it is estimated that the project will generate approximately $7 million annually in rental income for the county.
When fully developed, the project is expected to generate an estimated $9 million in annual real estate taxes to the county, town and local school districts. Currently the 60 acres of county land pay no real estate taxes and the 20 adjacent acres owned by Fareri are taxed as undeveloped land.
The project complements the medical and science-based uses on the Grasslands property and is wholly consistent with the economic trends in the market. Over the last 15 years Westchester County has emerged as a leading center for biosciences. Numerous prominent players such as Regeneron, one of the fastest growing companies in the biomed field, as well as smaller firms and start-ups have located, expanded and/or started here. Just last fall the New York Medical College opened its BioInc at NYMC incubator with $14 million in funding from New York State. The proposed project will exponentially expand this dynamic economic, educational and job creation engine in Westchester County.

The project will also create more than 4,000 new construction jobs and more than 8,000 new permanent jobs from entry-level to professional.
Yes. Rezoning to commercial use from residential will be required. Fareri will be required to complete a full site plan review, including a State Environmental Quality Review Act (SEQRA) review under the direction of the Town. Wetlands and other environmentally sensitive features on the property will be avoided and protections will exceed state and local statutes. Sustainable practices will be followed in all construction., wherever practical.
The project sits within both the Mt. Pleasant School District and the Pocantico Hills School District, and there will be no impact on school resources, as there is no residential component to the project at this time. In fact, the tax base of both school districts will be expanded.
All key intersections will be studied in depth, including, but not limited to: the 9A intersection of the new road linking the North 60 with 9A; the intersection of Rte. 100 with Hospital Road; the existing exit off the Sprain Pkwy. North, at Hospital Road; the entrance to the Sprain Pkwy. North, at Rte. 100, to name a few. The plan also proposes regular shuttle buses to nearby Metro-North stations, including Hawthorne and Valhalla.
There will be a natural symbiotic relationship among the planned biotech and bioscience campus, the Westchester Medical Center and the New York Medical College. The Medical Center is vibrant and expanding, while the college has its new BioInc incubator and is expanding its department of biochemistry and molecular biology. These and other opportunities offer the potential for a wide range of collaborative relationships. Relationships will also be cultivated with local area institutions of higher learning, local high school STEAM programs and existing bio-tech, medical and research institutions.

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