GREENBURGH – Plans to develop one million square feet of research and development space on property adjacent to Regeneron Pharmaceuticals’ current facilities in the Town of Greenburgh were met with town board enthusiasm on Tuesday.
The proposal, by Loop Road Holdings, would more than double the size of the R&D space in the Landmark at Eastview Campus.
Town Supervisor Paul Feiner said the town would generate significant revenue from the development, which could help it stay under the state tax cap. He said it would also have other benefits beyond the pharmaceutical industry research.
“Besides the revenues to the town, the jobs that would be created, the side effects of helping the local downtowns and local merchants,” Feiner said.
The project, which would set aside 40 acres of open space on the 100-acre parcel, and include structured underground parking, must go through a number of government processes before being approved, including a state environmental impact study.