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Ulster County acquired the two parcels in November 2019 out of tax foreclosure. Its previous owner, developer Alan Ginsberg, purchased the larger 252-acre campus in 1998 from IBM after the tech giant closed it.
Ginsberg renamed the campus TechCity and sought to transform it into a center of commerce, but struggled to fill the 1.7 million square feet of rentable space. In 2016 he fell behind on tax payments and by 2019 owed $3.3 million in taxes on the two sites. The other parcels some of which are also in foreclosure proceedings have more than $8 million in arrears, the Daily Freeman reported.
Photos of the property, provided as part of the county’s outreach, show the buildings are in various levels of decay. Cavernous carpeted floors with fluorescent-lit drop ceilings recall the ubiquitous cubicles of the 1980s and 1990s. Rusted pipes, peeling wallpaper and dust-covered filing cabinets reveal the buildings’ more recent history.
Ulster County is accepting formal expressions of interest for the redevelopment of two County-owned properties known as Enterprise West.
Located in the Town of Ulster on a total of 82 acres, the parcels are part of the former IBM campus and include a 400,000 s/f building with a parking lot with capacity for 1,700 cars.
“This is a major step in unlocking the potential of this site, which has been dormant for far too long,” said Ulster County Executive Pat Ryan. “I encourage all interested developers and businesses to review our Request for Expression of Interest and to put forth their best concepts for how we can return this site to its former glory as a centerpiece of our economy.”
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