Westchester Just Approved a $38 Million Biotech Expansion in Greenburgh
Renovations to the Ardsley Park BioMed Realty campus are designed to house a total of 10 new life sciences companies in the coming years.
Photo courtesy of Biomed Realty
The Westchester County Industrial Development Agency (IDA) gave final approval last month for a massive renovation and expansion by BioMed Realty of the firm’s nearly 100,000 square foot Ardsley Park Life Sciences Campus in the Town of Greenburgh.
“The IDA is very pleased to provide support for BioMed Realty’s renovation plan,” says DA Chairperson Joan McDonald. “This important plan will provide much-needed lab space to further strengthen the County’s reputation as a hub for biotechnology and life sciences.”
The renovation includes two separate buildings, the 22,000 square-foot Building 440 and the 75,000 square-foot Building 430. The former will house office and lab space for up to four new life science companies, while the latter up to an additional six.
“BioMed Realty is excited to deliver modern turn-key flexible lab and office suites that can accommodate growing life science companies,” says BioMed Realty Senior Director for East Coast and U.K. Markets Colleen O’Connor of the company’s decision to target smaller biotech groups who might not be able to afford outfitting their own lab spaces.
“These companies need move-in ready lab space quickly, with flexible term lengths, and we are excited to further support the life science ecosystem in the Westchester region by providing this critical space for the industry.”
The project is expected to create approximately 600 jobs, including up to 350 full-time positions with a payroll of $35 million and an additional 250 full-time construction positions during the renovation. After receiving approval for a sales tax exemption, the total budget for the expansion is expected to be $38 million.
“The biotech sector is key to Westchester’s economic future,” McDonald says. “With biotech giants such as Regeneron and Acorda Therapeutics headquartered here, Westchester County is ideally positioned for long-term growth.”