The Warwick Valley Local Development Corporation (WVLDC), a not-for-profit Public Benefit Corporation formed to redevelop portions of the former Mid-Orange Correctional Facility, announces the sale of 8.55 acres to Citiva Medical, LLC, one of 10 New York State licensed medical cannabis producers.
Through the Town of Warwick’s “shovel ready” process, Citiva has obtained, in less than 10 days, its site development permit for construction of Phase I of the project, which will include a 20,000 sq. ft. office/processing building and approximately 20,000 sq. ft. of growing space. Phases II and III will add an additional 40,000 sq. ft. of growing space in the next few years.
“I am extremely pleased to announce the sale to Citiva Medical. The use of the property will complement the agricultural heritage of our town while supporting economic development in the way of job creation and an increase in our commercial tax base. We welcome Citiva to the Warwick Community,” commented Bob Krahulik, WVLDC President.
Citiva will break ground within the next two weeks on the processing facility and growing facility as Phase I of the site in Warwick.
“The Town of Warwick is excited to welcome the leader in the medical cannabis field and looks forward to being home to a facility that will produce medicine that has alleviated the pain and suffering of so many New York residents,” said Supervisor Michael Sweeton.
“Citiva is proud to be a part of the Warwick community, and we couldn’t be more appreciative of the support of the Town leaders and the residents of Warwick. We look forward to contributing to the economic growth of the area, and the opportunity to create products that benefit all of New York,” says CEO and co-founder, Kim Volman.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States (including Citiva Medical LLC), providing investors diversified exposure to the U.S. regulated cannabis industry.
Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law, and health care services, iAnthus provides a unique combination of capital and hands-on operating and management expertise. The Company uses these skills to support operations across six states. For more information, visit www.iAnthusCapital.com.