Ulster County starts foreclosure proceedings on eastern portion of former IBM campus

Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on print
Tech City

KINGSTON – Ulster County has filed to foreclose on 18 parcels at the former IBM site in the Town of Ulster amounting to nearly the entire eastern portion of the campus. The move comes as owner Alan Ginsberg has failed to pay over $12 million in back taxes.

Once finalized, the county would have control over the majority of the former IBM industrial site after previously foreclosing on 82 acres on the western portion of the site in November 2020, also due to back taxes that were owed.

County Executive Patrick Ryan said the county is working “to come up with  a true 21st-century economic revitalization plan for the property that turns what has for too long been a shell of past economic success into thriving beacon for new opportunity for our county.”

Legislature Chairman David Donaldson calls the county move “a new chapter” for Ulster. “The closing of this site was a nightmare for their employees, the many local businesses and their employees that supplied IBM, as well as those that benefited from IBMers spending their paychecks,” he said. “There was a glimmer of hope when IBM sold the properties but that quickly diminished. It took some time but our unique neighborhoods adjusted, grew and learned the importance of diversification. We need to keep that value in our mind and create clear goals for the development of these valuable properties.”