TechCity deal finalized; former IBM site to become iPark87

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email
Share on print
Print
Tech City

KINGSTON – Ulster County has reached an agreement with National Resources to transfer ownership of the western portion of the former TechCity campus in the Town of Ulster.

A closing has been scheduled for next week and National Resources will begin environmental remediation and revitalization of the property, which is now branded as iPark87.

The Greenwich, Connecticut-based company has committed to invest at least $200 million to position the campus for growth and local job creation. 

Proposed uses for the property include light manufacturing, food and agriculture, film and television, arts and culture, and logistics and distribution.

National Resources also expects to develop a portion of the site with workforce housing and has indicated a desire to involve educational partners and workforce development agencies in the site’s redevelopment.

The company is also redeveloping the former IBM campus in East Fishkill, now called iPark 84.

“This is a significant and welcome milestone that represents the beginning of a new chapter for the former IBM site,” said Ulster Town Supervisor Jim Quigley. “What for so long has been a blight to the Town of Ulster and the surrounding region is now poised to re-emerge as a major economic engine.”

“We’re officially turning the page on nearly three decades of failure at TechCity and beginning an exciting new chapter that will include environmental cleanup and revitalization of the campus, and ultimately the creation of thousands of good-paying jobs for Ulster County residents,” said County Executive Pat Ryan.

Legislature Chairwoman Tracey Bartels said the sale is “to a capable developer who is well positioned to take on the challenges this property presents.”