Although its restoration has been in limbo for almost a year, the Luckey Platt building, a former department store on the corner of Main and Academy streets, is key to the redevelopment of downtown Poughkeepsie, according to Mayor John Tkazyik.
Two weeks after getting elected, the mayor toured the building with the owner and city officials in an effort to get things moving again. “There was a sense of commitment that we want to complete the project,” he said. “I have asked the city”™s fire chief and building inspector to give my administration a written report on where the project is and what steps need to be taken to get it back on track. This will be one of the catalysts to moving the downtown redevelopment to the next level.”
Tkazyik said he”™s working on “a timeline for success.”
Abandoned for more than 25 years, the handsome gray building, which dates from the early 20th century, was just a shell when owner Alma Realty, based in Queens, bought it from the city for $1. It has invested $14 million into the gut rehab, which will consist of 114 apartment units and 45,000 square feet of commercial space on the ground and basement floors. Construction stalled last March when the city issued a stop-work order after state building inspectors discovered a series of code violations.
Alma Realty did not return calls seeking comment. Tkazyik said the code violations stemmed from “the contractors going beyond the scope of work without permits.” Calls to the city”™s building inspector also were not returned by press time.
Tkazyik said “getting more people out on the streets” was one goal in revitalizing downtown. That includes beefing up public safety; he said he”™s “committed to getting more police on the streets.” Attracting more stores is also a goal. The mayor said that a newly constructed police building on the 500 block will help the area.
Tying downtown to the waterfront is another ingredient that will make Poughkeepsie viable as an urban center, he said. Planning for phase 2 of the waterfront development, which includes a marina and six restaurants as well as retail buildings at the southern end of the Grandview catering center, is under way, with construction scheduled to begin next year.
Once Poughkeepsie becomes safer and more affordable, “good things will come along,” Tkazyik said. He said the presence of three colleges ”“ Vassar, Marist and the Culinary Institute of America, in nearby Hyde Park ”“ the Metro-North commuter train to New York City and the hoped-for opening of a pedestrian walkway on the historic railroad bridge over the Hudson will collectively make Poughkeepsie an appealing destination.
Tkazyik said he will soon be presenting an update on the Luckey Platt”™s status to the Common Council, once he receives the report from his staff. “I believe Alma Realty is committed to the project and will move forward,” he said. “They”™ve invested a lot of money and time. We want to make sure it”™s built to code and they”™re doing it right.”
Dave Livshin, president and CEO of The Dagar Group Ltd, based in Fishkill, said his company has been retained as the leasing agent for the commercial space. He”™s received “varying degrees of interest” from potential tenants. One company has expressed interest in occupying 7,000 square feet to 10,000 square feet of space.
Livshin said as much as 21,000 square feet could be rented out to a single tenant. “It”™s flexible,” he said. “Right now it”™s a shell. The walls have not been put up. We”™ll design it based on interest.”
Livshin said the residential portion of the building needs to be rented out first before he can identify and attract the right commercial tenants. The residents would “generate the traffic and justification for the type of commercial we”™ll want to have. Once the units are rented, there”™ll be a larger night-time population.”
Livshin”™s firm is also the leasing agent for The Hamilton, another rehab building downtown, which has 6,500 square feet of commercial space. He said two of the Hamilton”™s six spaces have been rented. The remaining storefronts have been empty for a year. Livshin said he had a tenant lined up that was going to rent all four spaces, but the lease recently fell through.
Downtown commercial rents are in the low teens, compared to the high teens to high 20s on Route 9, he said. Livshin said he was hopeful downtown”™s strengths ”“ the cultural amenities, daytime business population and plentiful parking ”“ would help bring more retailers to the city center.
Across the river, in Kingston, The Dagar Group is marketing ShopRite Square, 60,000 square feet of additional commercial space next to the supermarket, Kohl”™s and Home Depot. Currently under construction, the property will be ready for occupancy this spring.
