All of the sudden, mixed-use developments are hot stuff in the Hudson Valley.
The wave began in the Town of Poughkeepsie earlier this spring, then moved north to the City of Poughkeepsie and Hyde Park. Now it’s hopping across the Hudson to bring multipurpose entertainment and housing spaces to uptown Kingston.
The new development, loosely titled The Kingstonian Project, has been a long time coming. For over a decade, the city sought a developer willing to upgrade the parcel of land on the corner of Fair and North Front Streets in town. In its former life, the semi-abandoned 2.5-acre property was home to a three-story parking garage at 21 North Front Street, although it was later demolished due to structural issues.
Recognizing a need for parking solutions to complement the influx of developments uptown, the city recently partnered with JM Development Group, LLC, and Herzog Supply Co. to renovate the space into a community-minded locale that benefits both locals and tourists.
“The City of Kingston has been seeking the right partner to work with on the development of this property for years,” says Mayor Steve Noble. “This unique collaboration will address our need for additional parking infrastructure, while also bringing to life two underutilized parcels in the heart of our Stockade District.”
Once complete, the $52 million development will address the need for additional parking in town with a new 420-space structure that includes 250 parking spaces dedicated to public use. Additionally, the current plan calls for 8,000-square feet of commercial territory to be divided between two restaurants, a number of retail shops and a communal plaza, plus 129 market-rate residential units onsite.
The name “Kingstonian” refers to the former Kingstonian Hotel building, which is now home to the Herzog Supply warehouse. To honor the site’s local significance, the property will be redeveloped as a historic, 32-room boutique hotel as part of the overall initiative.
Also included in the project is a new Americans with Disabilities Act-compliant walking bridge. The pedestrian walkway will provide a safe connection between the Historic District at Kingston Plaza and the other side of Schwenk Drive.
“This development will create much-needed parking and market-rate homes,” notes Joseph Bonura, who, alongside his brother, Michael, and Patrick Page, of Patrick Page Properties in Newburgh, runs JM Development Group. Joseph and Michael Bonura also own Bonura Hospitality Group, which manages a number of event, dining, and lifestyle locations throughout the Hudson Valley.
The collaborative endeavor will receive funding largely through private investments, which total an estimated $46 million. Through Governor Cuomo’s Downtown Revitalization Initiative, it will collect an additional $3.6 million. On top of that, the priority project garnered $2 million from Empire State Development funding and $1 million from Restore New York funding.
“I am honored to be involved in such a worthwhile project that will create a community centerpiece in the Stockade District,” enthuses Bradley Jordan, President of Herzog Supply. “Uptown will see an economic boom with the addition of more than 250 residents and hotel guests who will be active consumers in the area, ensuring the economic vitality of Ulster County’s most important commercial base.”