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

October 30th, 2024

The development industry of Ulster County was recently shocked by the sudden and tragic passing of Joe Cotter, president of National Resources, developer of iPark 87. Ulster Strong extends its sincerest condolences to his family, colleagues, and friends.

With the volume of local development-related news, let's get right to it.

This newsletter includes the following:

Major Developer of Hudson Valley and NY Metro Markets, including iPark 87, Dies Unexpectedly

• Kingston Public Labor Agreement Proposal
• Let’s Not Put Politics Over Taxpayers

• Mid-Hudson Valley film, TV production bouncing back

• Hudson Valley Future Summit - The Multigenerational Business:
• Charting a Course for Success

• Ulster County Industrial Development Agency looks to update housing tax breaks

• 15-unit subdivision now proposed at site off Lucas Avenue in Kingston

• City of Kingston Takeover of Ambulance Service Drives Big Tax Hike in 2025 City Budget

• Hudson Valley unemployment rate remains low

• Four Reasons Why Expanding HR Services Is a Good Investment

• Proposed 298-unit project would overlook Adams Fairacre Farms

• Catskill Mountain Railroad Takes First Step to Get Extension Plan Approved

• Archtop Fiber eyes expanding into rural communities in Mid-Hudson, Catskills

• Golden Hill housing project in Kingston breaks ground

• Ulster County Seeks Public Input on Agriculture Plan

• Civic Engagement And Political Involvement Are Directly Tied To Improving Key Processes Like Zoning And Planning Entitlements In New York State

• Developer unveils Lloyd bluff proposal

• Hudson Hideaway Update

“With great sadness, we share with you that Joseph Cotter passed away suddenly from a heart attack on Friday October 25, 2024 at home in his beloved New York City. Joe, at 66, accomplished so much, developing visionary projects in places and communities that he believed in. Joe was very proud of his family, a great friend who meant much to so many, effortlessly connecting on a personal level. Most importantly, we will honor him by continuing to develop our existing projects and those in our pipeline to create transformative projects,” said Lynne Ward, Co-Founder in National Resources. 

Joe was President of National Resources, the New York metro real estate development and investment firm that focuses on the redevelopment of urban and industrial sites. The company is built on a foundation of acquiring key properties and using existing infrastructure, then adding the dimension of sustainability. 

Under Joe’s visionary leadership, National Resources has redeveloped over $2 billion of projects with some of the world’s largest capital partners, creating thousands of jobs in the Tri-State Area. Innovation was central to National Resources’ unprecedented success, developing leading edge real estate that transforms people, communities, and environments. Working with towns and banks over the long-term, Joe and Lynne built a business employing almost 100 people. 

Long before major real estate developers discovered the Yonkers waterfront, Joe was a true pioneer, transforming the former Otis Elevator industrial complex in Yonkers into i.Park Hudson, a thriving workplace that includes the new Lionsgate Studios TV and film production complex. Working with their partners at Great Point Studios, the $500 million Lionsgate project has changed the face of film and television production in Westchester and New York State, with over 16 soundstages and the Robert Halmi Sr. Academy of Film and Television, a public high school for Grades 6 through 12, on the former Leake & Watts property. 

The transformative impact of National Resources innovative projects is felt throughout the region, from Westchester and the entire Hudson Valley to Nassau, Fairfield, and Bergen Counties. National Resources has played a key role in the development of the Hudson River waterfront including the 24-acre Hudson Harbor community in Tarrytown, NY and the 26-acre Edgewater Harbor in Edgewater, NJ. In addition, National Resources is well-known for its signature i.Park campuses in Yonkers, NY; East Fishkill, NY; Ulster, NY; and Norwalk, CT 

Joe’s success has been recognized by many business and real estate publications as well as universities and business organizations. Last year, he was honored at the Business Council of Westchester’s Annual Hall of Fame program receiving the prestigious Entrepreneurial Business Success Award while he and Lynne have received several awards from Urban Land Institute and NAIOP. 

There will be a private family service held and details on a public memorial will be shared in the days ahead. 

Contacts: 

Geoffrey Thompson 

Thompson & Bender 

geoff@thompson-bender.com

914-409-3433 

Dean Bender 

Thompson & Bender 

dean@thompson-bender.com

914-391-6042 

The Kingston Common Council is considering legislation to require any city project expected to be $1 million or more in labor costs to hire a “feasibility consultant”. They would determine if the city may benefit by signing Project Labor Agreements on public projects which would only allow union contractors and would ultimately shut out open shop contractors and their workers from the bidding process. 

The County Jail and Dietz Stadium projects, both examples of PLA mandated projects, went over time and cost estimates. The County Jail project went over budget by $30 million, and the Dietz Stadium project had to be increased $7 million after bids were opened with PLA mandates. Dietz is still awaiting locker rooms, bathrooms and a finished tunnel despite promises that the PLA would ensure that the contractual completion date of August 30 would be met.   

Current state laws already level the playing field and require that ‘prevailing wages’ be paid whenever public money is used, whether a business is union or not. There is little pay differential, but because open shops can operate more flexibly, they often are very competitively priced. If this resolution is passed and open shop contractors are removed from the bidding process, the taxpayers will ultimately pay the price. A comparison of bid results with the city over the last few years revealed this and was presented to the Common Council last year. (see exhibit)

The city’s PLA proposal would make Kingston unique as I am unaware of any other municipality that has a similar law on the books. This proposed law would dramatically limit competition, significantly increase costs to taxpayers, and sideline good business, many of which are local. Let’s not put politics over taxpayers.

President, Arold Construction Company

Resident, City of Kingston

The third quarter of 2024 saw film and TV production bounce back to the Mid-Hudson Valley region, with more than $15 million in direct local spending and more than 8,000 room night rentals at local hotels, according to the Hudson Valley Film Commission.

The resurgence comes after a strike by Hollywood actors and writers basically put a stop to major Hudson Valley film productions, but spending revenues still topped $52 million, according to the commission.



But, the commission added, the revenue was less than the $64 million generated in 2022.

The Multigenerational Business:

Charting a Course for Success

This year's Future Summit is for members and partners of family businesses who play a vital role in guiding a company's future, whether you work in or financially advise family businesses, are married into it, or are a next-generation owner not currently involved in operations.

Who should attend?

• All size family-run businesses 
• Financial/wealth management advisors
• Suppliers and partners to family-run enterprises
• 
  

Why should you attend?

• Opportunity for family business leaders/members and outside partners to learn together, build connections, exchange ideas, practices and processes in an interactive and unique environment.
• Achieve a better understanding of succession planning to have a strategy that aligns your business, family, and wealth goals for the short and long term.
• Overcome communication roadblocks by exploring common communication challenges and generational misunderstandings that fuel conflict.
• You're someone who has considered buying or selling an existing business.

Event Details:

Wednesday, November 13, 2024

The Samuel Dorsky Museum of Art at SUNY New Paltz

Includes a delicious locally sourced lunch, workshops and networking reception.

Passenger traffic at New York Stewart International Airport from 2004 to 2021

Ulster County Population by Age Group

(5 year estimates, 2017-2021)

Retaining top talent can be an expensive prospect. Companies across Ulster County have boosted human resources (HR) programs and benefits while launching creative new strategies to attract and retain staff. Examples of these efforts include higher compensation levels, expanded paid time off, more professional development programs and the use of new HR technologies to identify skilled individuals.

However, recent job market trends could be changing. In the past few months, the number of employees voluntarily quitting their jobs has decreased. In addition, according to the World Economic Forum, while the job market remains stable, there are signs that it might be cooling. These predictions may raise questions with business leaders as to whether previously implemented HR programs are still needed and whether they should continue moving forward with additional planned enhancements.

However, savvy business leaders recognize HR costs are long-term investments that lead to ongoing business success. Investing in HR helps:

Attract and Retain Talent

Many candidates are attracted to companies with robust, top-quality HR programs that help expand their skills while advancing their careers. Where employers wish to attract and retain top performers who display loyalty and discretionary effort, leading to increased performance, reduced employee turnover and a workforce with deep institutional knowledge. Powerful HR initiatives help businesses secure talent who are key for mutual long-term success.           

Spend Time and Money Wisely

The list of employer-related responsibilities is long and evolving, so using the latest HR technology solutions to streamline processes is critical for saving time and money. When consistent and cost-effective practices are employed, leaders and managers have more time to focus on other essential aspects of the business. HR technology can impact administrative tasks, compliance, recruitment, timekeeping, diversity, equity and inclusion, onboarding and training.

Grow Financially

Strong HR practices can open the door for top- and bottom-line growth increases. Strategic HR initiatives affect employee performance and productivity, which often leads to increased revenues. They can also impact the bottom line, with reduced costs related to low employee turnover. Consumers are increasingly in tune with the way companies treat their employees. As a result, they are more likely to spend their money with companies that care for their people.

A robust HR department remains a critical component for Ulster County companies to survive and thrive now and in the future. Forward-thinking businesses should resist the urge to cut back, as doing so may greatly reduce a company’s relevance in the workplace.

Matthew Zinser is a business performance advisor with Insperity, a leading provider of human resources and business performance solutions. For more information about Insperity, visit www.insperity.com or contact Matthew directly at matthew.zinser@insperity.com or 646-285-5585. 

The project is proposed by city of Rochester-based Whitestone Development Partners on 69.34 acres owned by former town wastewater Superintendent Corey Halwick. Plans include demolishing the iconic Wolf Rock Hotel mansion, which is listed as having been constructed in 1915 but has been reported in real estate publications as dating to the 1890s.



Construction would include two four-story 74-unit apartment buildings and 15 two-story 10-unit townhouse buildings. There would also be a 7,850-square-foot clubhouse and recreation areas with trails.



CMRR Presents Proposal for Rail with Trail

On Thursday October 24th, CMRR President Ernie Hunt presented the CMRR’s proposed Rail with Trail plan to the U&D Corridor Committee of the County Legislature. The Committee will make a recommendation on the highest and best use of the only remaining undesignated segment of the U&D Corridor from MP 8.33 in Stony Hollow to MP 10.01 at the edge of the Ashokan Rail Trail at Basin Road. The meeting was attended by the full U&D Committee – Legislators Collins, Sperry, Uchitelle, Litts, Kovacs, McCollough and Nolan, as well as Legislators Greene, Levine and Stewart.

Hunt’s presentation, which is available on the CMRR’s website at

www.catskillmountainrailroad.com, focused on the practicality and cost of implementing Rail with Trail “RWT” not only on the remaining undesignated segment, but the entire corridor from Kingston to the Ashokan Reservoir.

Key points in the presentation included:

1)       Discussing the economics of Rail and Trail

2)       Discussing the appropriate distances between the railroad and the trail

3)       Showing other successful RWT projects

4)       Showing the costs of RWT vs Trail only from Kingston to Basin Road.

The CMRR asked Stone Consulting, the consultant hired by the previous U&D Committee in 2015, to update the detailed cost analysis it did for this section of the corridor in 2015, and in particular, come up with a method to construct RWT on the Stony Hollow fill just west of Stony Hollow which borders federal wetlands.

The lack of a method for constructing RWT on the Stony Hollow fill was the primary reason this segment of the corridor was left undesignated in 2015. However, Stone produced three different methods of bridging this gap that do not involve disturbing the wetlands, and priced out the most cost-effective method which contained a ten-foot wide walkway built on piles directly into the fill just below the grade of the railroad. With this problem resolved, Stone went on to conclude:

“Stone Consulting has concluded that Rail with Trail remains both viable and practical for the final undesignated portion of the U&D Corridor from MP 8.33 at Route 28A to Basin Road at MP 10.01, given the alternatives for dealing with the Stony Hollow fill portion.”

Stone Consulting’s conclusions coincide with the Open Space Institute’s presentation made on September 26^th which also stated that Rail with Trail could be done for Kingston to Basin Road.

Both consultants came up with a similar cost for “trail only” from Kingston to Basin Road. OSI stated the cost being $15 to 17 million and Stone concluded it would cost $14.6 million. Stone also gave a detailed cost analysis for RWT from Kingston to Basin Road, which was about 25% more than Trail Only.

Given that the viability and affordability of Rail with Trail has now been established, the CMRR asked the U&D Committee to proceed as follows:

1) Update the existing Rail with Trail policy from Kingston Stony Hollow all the way to Basin Road, which will unify County policy for the U&D Corridor from Kingston to Basin Road.

2)  Ask the County to hire an experienced RWT design engineering firm to begin a design of Rail with Trail from Kingston to Basin Road. The CMRR pledged to work with the County to “Value Engineer” the Rail with Trail design to lower costs.

3) Request that the County extend the CMRR’s existing from Stony Hollow to Basin Road so it can begin track reconstruction and access the $667,000 NY State grant for development of a terminal at Basin Road, which will include a 900-foot segment of Rail with Trail.

The CMRR concluded by asking the Committee implement a Rail with Trail policy on the final undesignated segment of the Corridor as quickly as possible, and that it looks forward to working with the Trail community on this “win/win” option.

Hunt added as an added incentive that the CMRR is working to bring a new special event to Kingston that could be even more popular than the Polar Express in the summer of 2026. However, the event will be dependent on the having a destination and terminal site at Basin Road as envisioned in the CMRR’s expansion plan. In order for this event to happen, the CMRR must start work on the track extension project immediately.

The CMRR looks forward to working with the Ulster County Legislature to make the necessary policy changes and the Ulster County Executive to extend its permit as quickly as possible to bring this exciting event to Kingston in the summer of 2026.

PHOTO: CMRR Crew at Route 28A awaits Ulster County approval for expansion to Basin Road. Photo credit: Tom Healy.

According to the company’s website, Archtop Fiber has invested $350 million in private funding to build 2,500 miles of fiber-optic infrastructure in the area. Beginning with Kingston and the towns of Ulster, Hurley, and Saugerties, the company has continued to expand throughout 2024, into Red Hook and Rhinebeck as well as Catskill.



The company said it is currently in its first phase of development, but seeks to eventually expand from the border of New York state and Pennsylvania to the Berkshire Mountains on the border with Massachusetts, reaching around 300,000 homes.

The plan addresses challenges facing local agriculture and identifies opportunities for its economic viability, sustainability and resilience. The document is the result of a collaborative planning process that involved farmers, landowners, local governments, agricultural organizations and the public.

Comments on the plan can be submitted on the Participate Ulster website at www.participate.ulstercountyny.gov/ag-protection-planor emailed to Burt Samuelson atbsam@co.ulster.ny.us by Jan. 31, 2025.

As we approach the November general election, it becomes increasingly important to recognize that everyone, including business and real estate interests, has a vested stake in both the quality of candidates standing for office and the outcome of full voter participation, at all levels of government — local, state and national. It is essential to foster open dialogue and engagement to ensure that voters fully understand the issues at hand and the candidates’ positions on those issues. Sponsoring discussions and forums can contribute to a free, open, and comprehensive understanding of the candidates’ platforms, helping voters make informed decisions.

Civic engagement and political involvement are directly tied to improving key processes like zoning and planning entitlements in New York State. Strong, decisive political leadership is a cornerstone of building confidence in the investment community, which is often hesitant to allocate resources without clear and supportive guidance from elected officials. When this leadership is in place, communities can pursue sensible development plans that promote economic growth while preserving quality of life, leading to a robust tax base. This revenue supports critical public services, infrastructure, and cultural institutions that enhance community well-being.

Sustained investment in a community leads to job creation, economic vitality, housing availability, and improved quality of life. This is a positive feedback loop, where thriving social, civic, charitable, and cultural institutions attract further investment. But such success relies on collaboration between political leaders, residents, and businesses. The active participation of business and real estate interests in the political process is critical. Their involvement ensures that the candidates elected will be those who understand the needs of the business community and will prioritize policies that promote growth, development, and infrastructure improvements.

Business leaders cannot afford to remain passive; they must engage politically to hold candidates accountable to the needs of the entire community, not just select groups. This requires not only financial investments but also proactive support for candidates who champion policies conducive to long-term development in both the residential and commercial arena. Corporate interests must also be prepared to challenge candidates who do not meet these criteria, or who stifle economic development.

When business leaders, civic groups, and political figures collaborate toward shared goals, the result is a more prosperous and resilient community. This synergy strengthens the local economy and enhances the quality of life for all residents. Through such engagement, communities can move forward with confidence, building a brighter, more sustainable future.

 Local and state officials and leaders gathered Friday to break ground at the site of the Golden Hill affordable housing project, which is set to be completed by early March 2026.

The 164-unit project, located at the site of the former Ulster County Jail at 63 Golden Hill Drive, is being developed by Pennsylvania-based firm Pennrose and Kingston-based non-profit Family of Woodstock. The $87 million project is set to include two mid-rise apartment buildings, four townhouses, and a central community building, available to households earning up to 80% of the Area Median Income (AMI).

At the last Lloyd Town Board meeting, representatives from the Crest Group highlighted their proposal for a residential multifamily project called Highland on Hudson, located off Maple Avenue. Chrissy Passafiume filed the LLC for the Long Island based company.

The Crest Group indicated they will need a change of zoning for the parcel from the current single family Residential-2 [R-2] acre to a Planned Unit Development [PUD] so they can move forward with their multi-family project of 134 units.

The Hudson Hideaway development proposal had a productive public hearing session on October 21st at the Esopus Town Hall. The proposed project has received good feedback from the community. The developers Tommy Yan and Derek Leung want to reiterate that they, "appreciate all of the letters of support from residents, nearby businesses, and economic development advocates. Thank you!"

Hudson Hideaway's application process continues to go through the planning board. Ulster Strong is pleased that the developers continue to encourage community feedback and remain committed to keeping the community and town residents informed of their progress. The developers are optimistic about moving forward and working collaboratively to bring this project to life.