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Greenwich-based developer Fareri Associates has been awarded a $3 million grant from New York's Empire State Development to be used to help fund the first phase of its $227 million North 80 project.
"Our primary bet in Westchester County is the biotech and medical field," said Fareri.
Last month an American Arbitration Association panel awarded $14.3 million to two parties listed in a bankruptcy exhibit: James Carnicelli Jr. of Scarsdale, and The Gateway Development Group of Greenwich.
Fareri’s testimony that he was unaware of activities and tax filings that “inured only to his personal benefit” was not credible, arbitrators said.
In addition to the 60 acres of county-owned land, Fareri Associates will use the 20 acres of adjacent land it owns for the project. The county expects to receive about $7 million in rent each year.
The companies are now located near such facilities as Greenwich Hospital, West Med, Stamford Hospital and Greenwich Surgery Center.
The downtown condominium project was stalled for several years by the 2008 bankruptcy of its previous developer.
County Executive Robert P. Astorino says the $1.2 billion project will position Westchester as a global biotech center.
EDITOR’S NOTE: Developer John Fareri, president of Fareri Associates L.P. in Greenwich, in January was announced as Westchester County’s selected developer of a mixed-use,...
Greenwich has a new selection of luxury “loft-like” apartments to boast about with the recent addition of JLofts Greenwich on Old Track Road.
The principal of one of the two companies to submit a proposal for the development of a biomedical complex in Mount Pleasant pleaded guilty to grand larceny in 2007.