BioScience & Technology Center now needs approvals from Town of Mount Pleasant
When the Board of Legislators approved the 99-year lease for the Westchester BioScience & Technology Center — also known as the “North 60” project —many here applauded this important milestone in moving the $1.2 billion project forward. But we’re still a long way from “go,” says Bill Mooney, WCA’s President and CEO
“The proposed development clearly reinforces Westchester's position as a global leader and a hub of innovation in the life sciences industry,“ says Mooney. “Its success is due in large measure to the public-private partnership between the County, and the business, real estate and education sectors that we’ve spearheaded in recent years through our Blueprint for Smart Growth. With Westchester now a national healthcare and biotech hub, it is critically important to our future to expand the role of the life sciences and nurture innovation, for they help us attract and retain an educated demographic, and spur economic development. We applaud the County Executive and developers Fareri Associates for their vision and we look forward to our continued work with them."
But there’s work to be done. As Mooney pointed out: “This project still needs to go through the NY State SEQRA and approval processes with the Town of Mount Pleasant, which can often take up to 3 years.” Streamlining that process is of interest to the business and real estate communities, which seek to form public/private partnerships to advance policy and regulatory streamlining that could speed up important projects, such as North 60. This is a subject that will be taken up at the WCA’s Real Estate Summit on May 18th. More information here.
The project, which will be built in three phases, will include more than 2.2 million square feet of biotech and research space, medical offices, a 100-room hotel, retail space and a Children’s Living Science Center. It is estimated that the biotech center will create 4,000 construction jobs and 8,000 new permanent jobs. Fareri Associates will develop the complex on 20 acres it owns and on an adjacent 60 acres owned by the county.