Ambitious waterfront development project to create new tax revenue, new jobs and new public spaces, including an outdoor amphitheater
NEW WINDSOR, N.Y. (March 1, 2018) – Bonura Hospitality Group is preparing to bring its latest development project to the City of Poughkeepsie. Poughkeepsie Landing is an expansive and ambitious project undertaken as a public-private venture between the City of Poughkeepsie and the Bonura family. Designed to beautify the Poughkeepsie waterfront and provide open access to it for everyone, Poughkeepsie Landing will comprise new public park spaces, including an outdoor amphitheater, retail and dining concourse and residential property. It is the next in a series of successful development projects completed in this partnership between the City and Bonura Hospitality Group.
Poughkeepsie Landing will be located at the former site of the DeLaval Separator Company, on the eastern shore of the Hudson River, just south of the Mid-Hudson Bridge. The Bonura family has already completed environmental remediation and development projects at two neighboring properties: the former sewage treatment plant site, which is where Shadows on the Hudson and The Grandview now stand, and the former Poughkeepsie Urban Renewal Area 14, where the Bonura’s built Water Club Luxury Living. All three properties have been economic boons to the City of Poughkeepsie, generating new tax dollars and creating jobs.
The amenity-rich environment of Poughkeepsie Landing will revitalize the area by attracting new residents, reconnecting current neighbors to the waterfront and inviting visitors of all interests to enjoy new and exciting leisure options along the historic Hudson River. In doing so, it will also repurpose a parcel of land that has been off of the tax roll since 1965, turning it into a tax revenue and employment generator.
“We worked with the City to devise an innovative economic model for managing these new public spaces, which calls for zero tax dollars to support upkeep and maintenance,” said Joe Bonura, Jr. “Poughkeepsie Landing will also create a foundation for new economic opportunity in the City, which will further benefit residents and the surrounding Hudson Valley region.”
The public-private partnership includes a PILOT agreement and lease whereby the length of the property along the river will remain owned and operated by the City as dedicated parkland, with the remaining inland parcel to be leased to the Bonura family. The lease money brought in by the businesses and apartments will subsidize the cost to build and maintain the many public amenities that Poughkeepsie Landing will provide.
It is estimated that Poughkeepsie Landing will generate more than $300,000 in direct rent and property taxes annually for the City of Poughkeepsie. The City will also receive its portion of approximately $825,000 in yearly sales tax. Further, the new amenities will boost property values, including for Hudson Pointe home owners.
Poughkeepsie Landing will create an estimated 150 construction jobs, and an estimated 140 full time jobs once completed. It is likely to lead to additional indirect & induced employment opportunities in the City as well.
Throughout the early stages of this project, Bonura Hospitality Group has helped the City of Poughkeepsie secure $1M in grant money, which will help subsidize the boat dock and the site’s principal feature, the Riverfront Promenade.
At 2,300 feet long, the Promenade will connect to the existing walkway in front of Shadows on the Hudson and The Grandview, and eventually through Kaal Rock Park to Waryas Park and Walkway Over the Hudson. It will also extend as part of the Greenway trail through the Metro-North tunnel to allow for future connection and access to the south. The Promenade will have ample lighting and bench seating, and will be dotted by historic kiosks that recount the storied past of the Hudson River and the DeLaval site specifically. Art installations by local artists will be exhibited along the walkway as well.
Poughkeepsie Landing will also feature a unique walkable entry fountain at its Carnival Court welcome area. An outdoor amphitheater at its southern end will host daytime and early evening concerts and performing arts events. A competition-size public pool and adjacent kiddie pool and playground will be open seasonally. Day and season passes will be available, as with other City pools. A designated green space for farmer’s markets and arts and craft fairs will be available as public park space when not set up for such events. The large boat dock will be positioned near the amphitheater and allow access to visitors arriving by personal craft and sightseeing charters up to 200 feet in length.
Poughkeepsie Landing is first and foremost a public space, so ample public restrooms, public parking and points of pick-up and drop-off for public transportation are all part of the plan.
Poughkeepsie Landing’s three-story building will be home to the retail and dining concourse on the ground level, and residential units on two upper floors. The carefully curated selection of shops will included dining options for every taste and budget, as well as specialty retail focused on outside-the-big-box goods and services. Limited to just 50 apartments, each well-appointed, spacious dwelling will feature stunning Hudson River views. Altogether, the new building will reach a height of only 35 feet, causing minimal impact on river views from existing properties.
“Poughkeepsie Landing is the future of the City’s waterfront,” says Bonura. “We’re excited to be taking this next step toward completing a project that will benefit so many people in Poughkeepsie people, and bring so many new people here to enjoy this historic and beautiful town.”
To learn more about Poughkeepsie Landing, including the details of its many new public amenities, visit www.PoughkeepsieLanding.com
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About Bonura Hospitality Group
Bonura Hospitality Group unites the various hospitality outlets operated in the Hudson Valley by the Bonura Family. The company’s ventures include Anthony’s Pier 9, The Poughkeepsie Grand Hotel, The Grandview, Shadows on the Hudson, Shadows Marina, Shadows One, The Water Club, Blu Pointe and Billy Joe’s Ribworks. To learn more, visit www.bonurahospitality.com.