The Greenwich-based developer National Resources has purchased what formerly was the IBM Kingston West Campus to become part of its iPark 87 complex. The property was purchased from Ulster County. The county will receive $7.34 million from National Resources, representing a purchase price of $6.8 million to be paid in equal installments over 10 years plus monies owed in back taxes and unpaid utility bills.
National Resources previously purchased and is now renovating the former IBM East Campus facility. It’s a 200-acre site with one million square feet of existing buildings. In addition, National Resources plans to build two million square feet of warehouse and commercial space along with 800 units of workforce housing. The site is off Exit 19 of Interstate Highway 87 in the Town of Ulster, just north of Kingston.
In addition to closing on the sale of the West Campus, Ulster County also executed an agreement to sell to National Resources the last foreclosed parcel in the East Campus.
“With these agreements we are completing the transfer of the entire property to iPark 87,” said Ulster County Executive Jen Metzger, who credited former County Executive Pat Ryan, who now is serving in Congress, with getting the ball rolling while he was serving as county executive.
Ryan said, “This deal on the west side of the former TechCity campus is another huge step forward in turning the page on nearly three decades of failure at this site, and starts a new and exciting chapter that will provide opportunity for decades to come.”
Joe Cotter, president of National Resources, said, “We are excited to move forward with phase 2 of iPark 87 with the acquisition of the West Campus. We look forward to the continued support from the state, county, and the town to bring this bold and challenging project to completion.”
Metzger previously announced plans to create a Workforce Innovation Center at iPark 87. The Canadian battery company Zinc8 is moving to the site and plans to bring 500 new jobs to the county. Another battery company, Cadenza, has announced plans to move into iPark 87.
“Shifting to a green economy isn”™t just good for our climate and our health ”“ it is also a massive job creator,” Metzger said. “Ulster County could see tens of thousands of new jobs in manufacturing, buildings, transportation, renewable energy, and other green economy sectors, if we build the skilled workforce to take advantage of these jobs.”
The Workforce Innovation Center involves a collaboration between county government, SUNY New Paltz, SUNY Ulster, Ulster BOCES, community-based organizations, and trade groups. Plans include the development of a training curriculum that would allow people who receive training at the center to move directly into jobs at companies based in iPark 87.
“Too often, people who need job opportunities the most don’t have access to them because of barriers like transportation and childcare,” Metzger said. “We’re going to break those barriers down. This will become a national model for workforce development in the 21st century.”
