The iPark 87 campus is the former IBM Kingston manufacturing facility. The campus is situated on 200-acres of land with over 1 million square feet of existing buildings on both the East and West sides of Enterprise Drive in Ulster, NY. There are four buildings on the East Campus ranging from former warehouses to manufacturing facilities, a data center and an office building.
iPark 87 is a future-looking mixed-use technology campus.
IPark 87 will establish the former IBM facility as a sustainable destination, which would be a magnet for companies seeking to locate in the Hudson Valley. The success ingredient for this business plan is to offer rents that are 25% below the existing market. It is estimated that this redevelopment could create in excess of 1,000 jobs at the site. This has been demonstrated at iPark 84 where 1,200 jobs have been created and is the primary reason that Empire State Development Corporation selected the iPark team for this opportunity.
iPark 87 is the home of The Think District, a vibrant new community that is focused on innovation and future living.
The Think District has its roots in the legacy of invention and creativity that occurred on this former 250-acre IBM site, which was the heart of Ulster County in its day. It gets its name from the genius of Thomas Watson, IBM’s founder, in developing the chant of “Think” to inspire creativity.
Given the property’s legacy of innovation and robust infrastructure, iPark is a prime location for tech and manufacturing firms. Archtop, a leader in the fiber industry, is headquartered at this campus.
iPark’s design will facilitate the storage, processing and distribution of regionally grown food, to bridge the gap between institutional and large-scale retail markets and small to mid-sized farms and food producers. iPark has engaged the dairy industry, which is key to this area’s needs.
The campus is ideally suited for a SUNY or satellite college campus, which could include a student/staff housing component, as well as workforce training facilities.
In conjunction with the Industry Hub approach, iPark has included a residential component in the redevelopment of 880 multifamily units. There is a shortage of rental housing in the “mid range” in this area and no new developments have occurred for many years.
Given the location of the property directly off I-87 Exit 19, iPark has included a warehouse component in the master plan. The attraction of the campus to various warehouse, logistics and distribution companies will be shovel ready timing and utilities for cold storage in addition to the potential for rail access.
iPark is working with a local established studio group to build for movie and television studios. This is an area in which iPark has extensive experience and is currently constructing some 7 major studios in Yonkers for Lionsgate, MediaPro and others.