Fareri Awarded $3 Million in ESD Funds for North 80 Project

Congratulations to BCW Member Fareri Associates which 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.

“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.

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.

The award to the North 80 development was among 97 projects in the state receiving $81 million in Empire State Development funds. The awards were announced November 22 by Governor Kathy Hochul.

The North 80 project was one of 18 applicants to receive a total of $16.6 million in funds in the Mid-Hudson Region. Other Mid-Hudson applicants receiving significant funds included Hudson Valley Shakespeare Festival ($2 million) to create a new year-round cultural campus in Garrison and the Storm King Arts Center in Orange County ($2 million) for phase one of its building program. The funds are awarded through the Mid-Hudson Regional Economic Development Council. BCW President and CEO Marsha Gordon serves as a member of the Council.