Fareri Associates Awarded $3 Million ESD Grant for Development of North 80 Science and Technology Center
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.
VALHALLA, N.Y., Dec. 2, 2021 /PRNewswire-PRWeb/ -- 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 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.
"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.
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 Avenue in Hawthorne, N.Y.
Fareri is also well known for his charitable work in New York and Connecticut. John and his wife, Brenda are the founders of the Maria Fareri Children's Hospital, a $200 million-plus state-of-the-art facility at the Westchester Medical Center campus in Valhalla, N.Y., that was built in honor of their youngest daughter, Maria.
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SOURCE Fareri Associates
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