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A Roundup of Recent Ulster County Business-Related News, Views, and More


July 1st, 2026


As we close out the first half of 2026, Ulster County continues to navigate a complex economic landscape. This month, we’re highlighting a major focus on infrastructure and development—from Kingston’s ambitious waterfront revitalization to a new affordable senior housing complex in New Paltz to statewide reforms aimed at streamlining environmental reviews.


While we’re seeing promising signs of growth and investment, we’re also keeping a close eye on broader trends, including shifting patterns in second-home purchases, rising energy grid demands, and the implications of potential new county revenue strategies.


Speaking of revenue, the county is currently considering a new income surtax to address potential federal spending cuts. We believe the implications of this proposal—the Ulster County for Fair Taxes Act—require deeper analysis and, crucially, your input. We want to ensure that our local businesses have a voice in this conversation. Please share your thoughts on this proposal by completing our brief survey here.


At Ulster Strong, we remain committed to advocating for a balanced, pro-growth agenda that supports our local economy while ensuring sustainable development for our community. Thank you for staying engaged with us, and as always, we look forward to hearing your thoughts on these critical issues. Reach out to us at tim@ulsterstrong.com.




REMEMBER: you can always find this and other recent Ulster Strong Business Bulletins on our website at ulsterstrong.com

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(Pictured: Attendees at "Lunch & Learn" networking and presentation event on June 23rd at Ulster BOCES at iPark 87. Hosted by the UCIDA, UCCRC, and other Economic Development-related offices, they presented on county incentives that help to create jobs and support the long-term economic vitality of Ulster County.)

This newsletter includes the following:


The Tide is Turning: Kingston mayor Steve Noble shares his vision for developing the city’s waterfront, fueled by millions in grant money


Kingston picks developer for 50-unit affordable apartment complex at Uptown parking site


Post-Pandemic Second-Home Purchases Plunge Amid High Mortgage Rates & Persistent Inflation


New York’s Energy Supply is Dropping, but the Demand for Energy is Growing: NYISO president and CEO discusses why energy demand is growing


Hochul signs environmental review reform into law:  Measure would allow expedited process for up to a 300-unit housing project in Kingston


Affordable senior housing opens in New Paltz


Ulster County sales tax up over 12 percent from last year


Woodstock Land Conservancy ends suit over Zena Homes review


DATA BITES





The Tide is Turning

Kingston mayor Steve Noble shares his vision for developing the city’s waterfront, fueled by millions in grant money


by Zac Shaw for Ulster Strong




Call him the “grant man”. Since he took office in 2016, Kingston mayor Steve Noble has grown the city's grant portfolio from a few million dollars to more than $140 million, the latest being a whopping $21.7 million federal RAISE grant from the U.S. Department of Transportation. It pays for a project Kingston calls Weaving the Waterfront. The ultimate goal is to fix flooding issues, build public infrastructure and turn a long-neglected stretch of underdeveloped waterfront into a hotbed of commercial and community activity. 


The RAISE grant came after three rounds of applications, with help from Senator Chuck Schumer and Congressman Pat Ryan. Securing such massive grants "takes a lot of work by our team here, and a vision," Noble said. "Grantors want to be able to see that we have a vision and a commitment to moving our community forward, and we then are able to capitalize on that. We've been able to show the state that if you give us money, we'll spend it, and I think that's important."


The Weaving the Waterfront Transportation Project consists of several connected improvement projects. Noble started with the least glamorous piece.


"It's going to help raise the road along East Strand and North Street, so that when we have these flooding events, the road doesn't flood as often as it does today, which sometimes could be every day, at least once a day," he said. "No one wants to have to see a huge puddle in the road every time there's a high tide."


A key aspect of the project is to extend the Kingston Point Rail Trail, which currently runs from Midtown down to the Maritime Museum.


"This grant helps to pay for a new transportation connection and recreational corridor from basically the Trolley Museum all the way out to Rotary Park and Kingston Point Beach," Noble said. "We know that will really get more people to use the trail, get more people to that section of the waterfront, and create a seamless off-road connection for people from Midtown Kingston to get all the way out to Sojourner Truth State Park. To be able to have it all be connected, we think is good for tourism, it's good for business."


Sojourner Truth State Park is no small part of the plan to create a thriving waterfront area. The state is currently working on a $75.5 million buildout that will turn the park into a full-service public recreation destination. Plans include a large swimming facility in a spring-fed quarry, a bathhouse pavilion, upgraded roads and parking lots, new trails, public restrooms, outdoor event space and interpretive installations.


Another major waterfront player is Hutton Brickyards, which continues to expand its operations – most notably with large-scale entertainment events like the Rolling Stone Stateside festival on July 4, which is expected to draw about 4,000 people.


"It's one of our largest economic development engines,” Noble said. “It brings in lots of events and many big concerts... This will help make sure that there are sidewalks so that concertgoers can come in and out of the festival area, and the restaurant, and the hotel."


With so much already going swimmingly for the developed areas of the waterfront, Noble frames the project as the key to unlocking the remaining tracts of land which have high potential for becoming prime real estate.


"We are one of the more unique waterfronts along the Hudson that is not completely built out right on the water's edge," he said. He credited the late Rob Ianuzzi for assembling and cleaning up waterfront parcels, removing "all of the junkyards and old abandoned oil tanks," which left "these cleared, ready-to-develop areas that we think are really prime for redevelopment."


The strategy is to lead with infrastructure. "By putting in all of this public infrastructure, we're really creating the foundation for private investment to occur and be successful," he said. "By securing all of this state and federal funding, we're also showing to the private development world that Kingston is investing in itself, and we hope that they will invest in us too."


Opportunities for growth

Noble has made new housing a central part of his economic development agenda, and that priority carries through to the waterfront project.


"We want all different levels of housing types. We want all different levels of affordability ranges. It'd be nice to even have a little grocery store," he said. "The more people that live in a business district, the better it is for businesses year-round."


He wants residents, not just weekend visitors. "We want feet on the street. We want people living and working and dining and recreating, all right here."



Kingston's waterfront is also a cultural draw, anchored by the Hudson River Maritime Museum and the sloop Clearwater. Noble sees that history as integral to the economy.


"We have some of the best museums in the Hudson Valley located right here in downtown Kingston along our waterfront," he said. "Not only do they employ people, but they attract so many other opportunities." He pointed to American Cruise Lines, which docks at the Maritime Museum nearly every day from spring through October. That traffic helped launch a new historic trolley tour business in the city.



Kingston picks developer for 50-unit affordable apartment complex at Uptown parking site


(By Daily Freeman)


"A developer has been selected to construct a 50-unit affordable apartment complex on the city-owned parking lot on North Front Street in Uptown" according to Mayor Steve Noble.


Noble said on Monday that the city has picked Gemion Consulting LLC and Rockabill Development LLC as development partners in the planned housing project at the 65-77 N. Front St, property. The project is expected to contain mixed-use storefronts.



“As planning advances, the project team will carefully evaluate opportunities to maintain public parking access while supporting the site’s long-term redevelopment goals,” a news release said."


Gemion Consulting is a minority- and women-led real estate consulting and development firm specializing in high-quality affordable multifamily housing, the news release said. Rockabill Consulting & Development has experience with the development of more than 14,000 residential units across New York, with expertise in affordable housing, the release said. Rounding out the development team is WRT Architects, Arden Consulting, Langan Engineering, and AHC General Contracting.




 Post-Pandemic Second-Home Purchases Plunge Amid High Mortgage Rates & Persistent Inflation


(By Rockland County Business Journal)




The pandemic-era vacation-home boom appears to be unraveling, according to a report by SellMyTimeshareNow.


A new analysis found that U.S. vacation-home purchases financed with a mortgage fell 65.8 percent between 2021 and 2025, dropping from 257,549 purchases to just 88,158 nationwide.


These additional home purchases fell by nearly two-thirds from 2021 to 2025 amid soaring prices and mortgage rates. The U.S. vacation-home market has contracted sharply since its pandemic-era peak, reversing a surge driven by historically low borrowing costs and increased demand for remote-friendly living. The vacation-home share of total mortgage originations fell from 4.9% in 2021 to 2.6% in 2025. These drops followed a period when second-home demand expanded rapidly, particularly in resort markets and lower-density areas.


Vacation homes—also referred to as second homes or seasonal properties—are residential properties purchased primarily for leisure use rather than as a primary residence. While often associated with affluent buyers and resort destinations, this segment of the housing market can serve as a leading indicator of broader economic conditions.


New York’s Energy Supply is Dropping, but the Demand for

Energy is Growing

NYISO president and CEO discusses why energy demand is growing


Here’s the upshot: New York’s energy supply is dropping, but the demand for energy growing. At the same time, the state’s energy infrastructure is among the oldest in the nation and will soon need to be replaced.

That’s according to the New York Independent System Operator, whose job it is to ensure the state’s energy grid is reliable.


The NYISO acts as both an air traffic controller for energy as well as a stock exchange where all kinds of providers compete to sell their wares.


Demand is growing because there are a bunch of "large load projects" trying to come on line, including advanced manufacturing and data centers. There is more than 14,000 megawatts of requested electricity from these large load projects in the NYISO’s interconnection “queue” — all of it waiting to “plug” into the state’s energy grid.



Hochul signs environmental review reform into law

Measure would allow expedited process for up to a 300-unit housing project in Kingston


(By Daily Freeman)


Environmental reviews for certain housing projects up to 300 units are set to be eased after Gov. Kathy Hochul signed into law her proposed “Let Them Build Act,” her office announced on Wednesday.....


Locally, the law would increase the number of units from a streamlined review of 100 units as first proposed by Hochul, to 300 units, as Kingston is considered an urbanized area, according to Mayor Steve Noble. The 100-unit threshold applies to “non-urbanized” areas with a 20-unit maximum for communities without zoning.


The reforms had drawn strong support from Kingston Mayor Steve Noble, along with numerous town supervisors across the area, while drawing concerns from environmental groups such as Scenic Hudson and Riverkeeper, and the Kingston Common Council and the city’s Planning Board.


Hochul’s office touted the new legislation as a sweeping set of “common sense” reforms to the State Environmental Quality Review Act (SEQRA) that would cut “red tape and remove duplicative environmental reviews for housing and other critical infrastructure.” Her office added that they represent the biggest changes to SEQRA since it was passed in 1976.



Affordable senior housing opens in New Paltz


(by MidHudson News)


Harmony Hall, a new 51-unit senior affordable housing complex in New Paltz, was officially opened with a ribbon cutting ceremony shortly after noon Wednesday.


The entrance of Harmony Hall, off South Mainheim Boulevard, is directly across from SUNY New Paltz’s main parking lot.


Residents, without cars, are within easy walking distance of the Wallkill Valley Rail Trail and downtown restaurants in a community where one-bedroom apartments are about $1,900 per month. Harmony Hall residents will pay about $900 per month to live there.



Ulster County sales tax up over 12 percent from last year


(By MidHudson News)


Sales tax collections in Ulster County are up by double digit percent over last year’s and that is due to higher consumer prices as a result of inflation and tariffs on the federal level.


County Comptroller March Gallagher said if that continues, the county could have millions in additional revenue.


“If were to clear the year out at only 10 percent ahead of last year, that’s an extra $18 million, so it’s possible that some of these increased costs are going to be absorbed by increased revenues. We don’t know,” she said.


Gallagher warns that if the economy takes a sudden downturn the county may not see those surpluses in sales tax.



She acknowledged that when inflation goes up, county sales tax revenue increases.



Woodstock Land Conservancy ends suit over Zena Homes review

(By Daily Freeman)

The Woodstock Land Conservancy has ended its lawsuit over a review of the Zena Home housing project.



Town officials received confirmation on Wednesday from Woodstock Land Conservancy that an interpretation of zoning regulations satisfies a court requirement to explain why Zena Homes’ 30-lot subdivision application is under town Planning Board review instead of the Town Board.



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DATA BITES


Net domestic migration rate from Hudson Valley counties to other U.S. counties

Numbers represent percent change in individuals listed on tax filings


In the Hudson Valley, the pandemic fueled a brief migration boom across most counties, with more people moving in than out during 2020 and 2021. Orange County was the exception, continuing a pattern of slight net outmigration seen over the past decade. However, much of the pandemic-era growth reversed in 2022 and 2023, and Ulster County remains the only county in the region to maintain positive net domestic migration in the period.


In anticipation of next year's federal cuts in spending for local programs, the county government needs to assess its budget and spending.


The only solution presented by county government to address potential federal cuts is to propose a new income surtax.


But the implications of this tax are unknown, have not been evaluated, and received little input from the community, including OUR businesses.


Ulster Strong calls for more discussion and community input.


What's the rush? Let’s get this done right, not fast.


Take our survey at https://www.ulsterstrong.com/survey



This public survey is designed to capture community sentiment, potential economic impacts, and expectations for local governance.




Ulster Strong is a non-profit advocating a pro-growth agenda that balances good jobs and investment opportunities with the environment and sustainability.


ULSTER STRONG SUPPORTS


Adding good-paying jobs;

Diversifying the local economy so it’s more resilient;

Encouraging new investment;

Balancing the environment with local economic needs;

Growing local tax base to support community services including schools, infrastructure and emergency services;

Updating planning and development procedures to be more

transparent and timely.



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