A billion-dollar research and medical facility could be coming to Valhalla.

County officials say a 60-acre area of grasslands next to the Westchester Medical Center may soon become a bioscience and technology center.

The center would include a research facility, medical offices, retail stores, restaurants, a hotel and a children's science center.

The land is owned by the county, and developer Fareri Associates says it is ready to invest $1.2 billion into the project.

The developer would transform 60 acres owned by Westchester County right next to Westchester Medical Center in Valhalla and 20 acres of its own property into what would become The Westchester Bio-Science and Technology Center.

If the project is approved, it's expected to create 4,000 construction jobs and 8,000 permanent jobs.

The Westchester County Board of Legislators must approve the 99-year lease before the town of Mount Pleasant approves the project.