Local officials from the Town of Mount Pleasant unanimously approved zoning amendments that will facilitate the construction of North 80, a three-million-square-foot science and technology village. Located in Valhalla, a hamlet within Westchester County, the development will take shape next to the Westchester Medical Center, New York Medical College, and near the expansive Regeneron Pharmaceuticals complex.
North 80 is the latest project from Fareri Associates, a developer with projects primarily in Westchester and Fairfield counties. The development site includes a combination of 60 acres of undeveloped county-owned land for which Fareri holds a long-term lease, and 20 adjacent acres owned by the company.
When complete, the campus will include a mix of retail space, research and educational facilities, a hotel, a conference center, public outdoor space, bike trails, and lush landscaping throughout.
“We are thankful for the town board’s support of our vision for the North 80,” said John Fareri, president and CEO of the development company. “We are confident that our vision for this unique location will bring thousands of new jobs and economic opportunities to Westchester and New York State, while working synergistically with the adjacent and nearby uses.”
With an estimated project cost of $1.2 billion, North 80 is the largest-ever economic development project in Westchester County. Plans and applications for the first phase of construction will be submitted to the Town of Mount Pleasant planning board early next year.
“It’s a win-win for the town, the county, and the state, and we look forward to getting started,” said Fareri, whose firm estimates the project will generate around 4,000 construction jobs, 8,000 permanent positions, and more than $9 million in annual real estate taxes for Westchester County.