city of peekskill industrial development agency...
TRANSCRIPT
City of Peekskill Industrial Development Agency • 2017
economic development strategies summary report03.27.2017 | No. 2
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY
TABLE OF CONTENTS
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Contact & Interview Lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Materials & Reports Reviewed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Feedback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Marketing Visions & Strategies . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Images . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
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introduction
This report was commissioned by the City of Peekskill Industrial Development Agency prepared by Wendell & Associates in December 2016 .
City of Peekskill Industrial Development Agency (PIDA) Board Arun Manansingh Chairman Charles Jennings Vice Chairman Frances Gibbs Member Deborah Post Member Nicholas Misch Member Alan Kravitz Member
PIDA Staff Richard Leins Executive Director and CEO Kathy Lockwood Deputy Director JessieBoyd TreasurerandChiefFinancialOfficer Gloria Zonghetti Secretary
http://www .cityofpeekskill .com/peekskill-industrial-development-agency
ThePIDAisapublicbenefitcorporation, the purpose of which is to “promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing industrial, manufacturing, warehousing, The Peekskill Brewery at the waterfront
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 2
commercial,researchandrecreationfacilitiesincludingcertaindefinedfacilities,andthereby advance the development of job opportunities and advance health, general prosperity and economic welfare of the people of the City and to improve their recreation opportunities, prosperity and standard of living .”
ThisreportisasummaryoffindingswhichprovidedthebasisforaPIDAretreattodevelop mission and vision statements, goals and objectives, a marketing vision and an action plan .
Redevelopment project including marina, restaurant, brewery, and entertainment center
New Development on promontory overlooking the Hudson River near Downtown Peekskill
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executive summary
The following report is the summary of an effort to assist the City of Peekskill Industrial Development Agency in creating an economic development strategy and action plan . This result was accomplished along with a vision and mission statement, a SWOT analysis, in addition to short- and long-term goals and objectives .
Interviews with over 30 stakeholders were conducted to gather input about the City of Peekskill economy and the City’s economic development efforts . The comments received were collated into categories of strengths, weaknesses, opportunities, and threats . This material was used to inform the PIDA in its efforts .
An assessment of demographic data along with stakeholder input was presented to the PIDA Boardresultinginthefollowingfindings:
Peekskill’s population has been increasing steadily since 1990 . Since 2010 an increase in Gen X (35-44), a decrease in youth under 18, increase in baby boomers (55 to 64) and static millennial population has occurred . Since 2010 the city has experienced an increase in white, Asian and black population and a decrease in Hispanic population which is a reversal of trends from the previous decades .
Peekskill’s income distribution is changing. Since 2010 fewer families in the under $100,000 category and more in the over $100,000 category . Housing cost burden is increasing for families under $50,000 but decreasing for those over $50,000 .
Building Permit data indicate that the housing boom of the early 2000s gave way to a marked slowdown. Between 2010 and 2014 only one duplex and 7 single family units were built . Construction is now picking up in 2016/2017.
Data from 2013 show that the owner and renteroccupancyratesreflectahealthymarketwith rates below 5% . Home prices have been recovering from a steep drop . Median sales prices peaked at $365,000 in 2006 and had dropped to $230,000 by 2013 . Median sales prices were back up to $266,000 by July of 2015 .
Rental housing trends indicate a stabilization of rents. In 2015 Average contract rent was $1899 and median rent was $1675 . Rents ranged from $1050 for an 880sf one bedroom to $3500 for a 2714 SF 3 bedroom unit . That stabilization of rents and the gain in single family sales are signs of growing demand for housing which can be attributed in large part to the revitalization of the downtown and restaurant row .
The City of Peekskill is experiencing an upswing in its economic prospects in tandem with the regional and national economy. A new hotel built within the last couple of years is thriving along with new restaurants and several new and expanded retail businesses . A number of new multi-unit residential projects are under construction with more in the pipeline . The area aroundthetrainstationhasseensignificantenhancement in recent years with new businesses and restaurants and the establishment of a new Lincoln Depot Museum and planned visitor center .
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 4
Opportunities for new development include vacant land currently being prepared for development by the City, existing industrial sites along the waterfront area, existing buildings ready for redevelopment downtown and other vacant parcels and buildings within the City limits . The City has a relatively strong base of industrial companies with opportunities for expansion and new development .
Peekskill has developed a strong reputation as an artist community and was in the vanguard of creating spaces specifically for artists of all kinds. An accompanying spin off in revitalization has not materialized as expected . Ideas to create more options for art related retail, exhibition and instruction space are being explored . An effort is also underway to explore creating a multi-media registry to begin a process of recruiting multi-media related companies to set up shop in Peekskill.Thesewouldincludefilm,video,music,sound and lighting engineering, public events and other related businesses .
The retail sector in Peekskill presents significant challenges. While the restaurant scene along with entertainment venues are thriving, there is a lack of daytime retail activity . The business improvement district has been somewhat successful in creating an atmosphere for downtown revitalization over the past couple of decades but is challenged by a lack of resources as its budget has remained unchanged for 20 years .
There are few resources for marketing the City either from the Chamber, the BID or City Hall. Comprehensive planning and creating resources for economic development have also been a challenge in recent years . The city has an approved Local Waterfront Revitalization Plan but no funds to market it .
Peekskill has considerable assets for recreation and historic or “heritage” tourism. Along with the new and expanding Riverwalk which provides pedestrian and boating access to the City’s waterfront, the City has close proximity to mountain biking trails and multiple public and private access points to the Hudson river . The City is also located along the Appalachian Trail .
The train station provides convenient one-hour access to New York City for local, regional, national and international travelers and visitors. With appropriate investment, the City’s historic resources including historic architecture, underground railroad sites, and other sites of interest can become a considerable attraction . Live music and cultural entertainment anchored by the Paramount theatre and augmented by several live music venues in the downtown are also an avenue for further investment . Music, arts, culinary and cultural festivals are an ideal way for the city to enhance the attractiveness of both the downtown and the waterfront .
Industries with potential for new investment in Peekskill include tourism, multi-media, manufacturing and retail. In addition, residential and mixed use development along with related officedevelopmentholdsignificantpromise.
Marketing the city through a series of efforts is crucial to successful economic development. This effort should include but not be limited to improving the PIDA web-site, promoting historic Peekskill through brochures, interpretive signage and an enhanced building marker program, improving press coverage and supporting public events . Other key marketing efforts should includeabrandingcampaign,newwayfindingsignage, public advertising kiosks and outreach to appropriate companies, developers and industry groups . The PIDA has created a multi-year action plan to embark on a comprehensive marketing effort that includes the PIDA, the City of Peekskill, the Chamber of Commerce and the BID among others .
The marketing of the City must be followed up by an economic development presence. This presence is required to coordinate the marketing effort and to meet and help guide prospects in relocating, investing or expanding in Peekskill . With a reliable economic development program in place, Peekskill has considerable potential to increase private investment in the City and related improvements in tax revenue, property values, public amenities, and standard of living for its residents and business community . This plan along with an invigorated multi-agency effort are key elements to a successful outcome .
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contact & interview list
Jeff Bonville Banker – Wells Fargo Bank
Frank Catalina Mayor
Drew Claxton Deputy Mayor of Peekskill
Paul DeCourcey Owner – Master Luthier – Division Street Guitars
Bill Diamond Business Person/Developer
Dwight Douglas Resident/Planner (tour of economic development sites)
Monica Flaherty Developer
Jean Friedman City of Peekskill
Fran Gibbs PIDA
Ben Green Business owner (tour of Hat Factory)
Leslie Janacone Banker – Putnam County Bank (914-243-7272)
Charles Jennings PIDA
Alan Kravitz PIDA
Louis Lanza Business Person/Developer
Richard Leins City of Peekskill
George Liaskos Business Person/Developer
(tour of hotel and waterfront sites)
Joe Little Visitor
Kathy Lockwood City of Peekskill
Arun Manansingh PIDA
Kevin Marrinan Developer (Ginsberg)
Vivian McKensie Councilwoman
Deb Milone Chamber of Commerce
John Milone Trolley/tour operator Peekskill
Nick Misch PIDA
Jim Pinto City of Peekskill
Bill Powers Peekskill BID
Justin Miller PIDA
John Ford Business owner-musician
Andre Rainey Councilman
Dave Rambo City of Peekskill Water and Sewer
Ryan Sanders General Manager Holiday Inn Express
Kathy Talbot Councilwoman
Joseph Torres Councilman
Brent Van Zandt DPW Commissioner City of Peekskill
Vince Vesce Councilman
Gary Wawrzycki Banker – Wells Fargo Bank
Maureen Winzig Peekskill Arts Alliance
contact & interview list (cont’d)
Parking area and possible redevelopment site
Interior of new marina restaurant under constructionThe Peekskill Train Station on the MTA Hudson line provides one-hour service to New York City and key access for commuter and tourists. It is a hub around which market-rate housing, retail and office can be developed.
This area adjacent to the Rail Station and the waterfront park is already taking on attributes of a small village with stores, a brewery, restaurants and a museum. It presents opportunities for residential, retail, office and hotel development.
| 7Interior of new marina restaurant under construction
materials & reports reviewed
Local Waterfront Revitalization Plan (LWRP) City of Peekskill • December, 2015
Retail Recruitment Study City of Peekskill • April, 2012
Street Map of Peekskill
Welcome to Peekskill Video Bill Powers
Grant budgets City of Peekskill Planning Dept .
PIDA Annual Report • 2015
IDA contracts and forms Peekskill IDA
PIDA website
City of Peekskill website
Downtown Peekskill map – Peekskill BID
Peekskill BID website
Downtown Peekskill Historic Walking Tour-City of Peekskill • 2010
White Plains Linen Feasibility Study-City of Peekskill • May, 2016
Hudson Valley Gateway magazine • 2016
WCA City Showcase Peekskill (Mary Foster, Mayor) Blueprint for Westchester
Transit Oriented Development Report, Land Use Law Center,Pace University • 2013
PIDAfinancialassistanceprojectAgreement
City of Peekskill Sports/Recreation Market Report • January, 2016
City of Peekskill Demographics and other statistics (from the internet)
Industrial Development Agencies Report from State of NY Comptroller • 2006
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 8
TransformingDowntownPeekskillfinalreport • April, 2012 Larisa Ortiz
Peekskill Facilities Development Corp Annual Report
City of Peekskill CFA Microenterprise Grant • 2016, 2015
Harris Beach Economic Development Handbook • 2015
Aerial maps of City of Peekskill owned properties on Lower South Street
materials & reports reviewed (cont’d)
The are significant opportunities for industrial or commercial de-velopment near the waterfront in Peekskill including land owned by the City and the PIDA.
Recent IDA-financed project – Holiday Inn Express
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demographics
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 10
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CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 12
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CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 14
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feedbackThe following feedback is drawn from stake-holder interviews and does not reflect the official position of the City of Peekskill or the PIDA but is presented to represent public perception
STRENGTHS
• Established artists’ district
• Local business owners are building restaurants and retail operations in the downtown and waterfront
• Investors are re-developing downtown buildings
• Active Chamber of Commerce
• Active Business Improvement District (BID)
• Good base of light industrial companies on the waterfront: Budweiser Distributor, White Plains Linen, BASF, Wheelabrator etc .
• Smallscalecompanies(soundandlightingengineering,videoandfilmproduction) have created a multi-media base in Peekskill
• New development including new loft style apartments and a spa, hotel, apartment project
• The Lincoln Depot Museum
• Historic Resources Study – Underground railroad, Fleischmanns, Revolutionary War
• Paramount theatre with 1,000 seats
• Open studios weekend in June
• New Entertainment center with bocci, laser tag, climbing wall, brew pub opening at marina
• Holiday Inn – new hotel with larger rooms, conference center constructed with LEED in mind
• Renovation of the Evening Star building on Main Street
• Westchester Community College Center for Digital Arts
• First Taste Of New York outside the city coming to train station
• 200 artists live in Peekskill, 105 registered with arts group
The Lincoln Depot Museum, tourism attraction and resource
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 16
feedback (cont’d)• Local wedding venues and catering halls are
good draw for hotel rooms
• Peekskill has State and Federal grants for revitalization
• Lowest priced housing stock in the County attracting migrants from the City
WEAKNESSES
• Major developers are in and out with changes in City political leadership
• Peekskill has foreclosure issues and lower housing values than the area in general
• Peekskill has more than its share of low- and moderate-income housing
• There is a Local Waterfront Revitalization Plan (LWRP) but lack of resources for marketing it
• BID budget is static and does not increase in tandem with assessments to provide resources for marketing, events, improvement in services
• City needs updated comprehensive plan
• City needs capital improvement plan
• With home sales tied to school scores, Peekskill has challenges with low test scores
• The City needs updated zoning code
• Most of Peekskill is open only Thursday through Sunday . Downtown needs daytime retail
• City needs to enforce building codes
• Need for increased City police presence in the downtown area
• City has high debt on land it acquired
• City needs more economic development staff
• Downtown parking has challenges
• Lower South Street needs road improvements, drainage, utilities, lighting
• City needs more resources for comprehensive planning, mapping, and demographic data
• Hispanic community could be more engaged
• IDA needs marketing
• Big Box Retail is reluctant to invest in Peekskill due to limited area of demand
Lofts on Main Street under construction
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Lofts on Main Street under construction
feedback (cont’d)
OPPORTUNITIES
• Opportunities exist for attracting multi-media businesses
• Existing large vacant parcels for development
• Fire stations are being consolidated; could be potential redevelopment opportunities
• Downtown is a historic district which could be marketed
• Old White Plains Linen site in the City opportunity for redevelopment
• Sixteen new townhouses planned for Main Street near City Hall
• Waterfront parking lots are opportunities for development
• Underutilized parcels near the waterfront
• CentralAvenueinfilldevelopmentopportunities
• Perception/hope that Peekskill might become more like Greenwich or Stamford
• Important to bring in new families, people in their 20s and 30s
• Industriestogoafter,smallerhedgefunds,financialservices,start-ups, co-location (like WeWork) . Beehive work space, Incubators
• Existing buildings downtown ready for redevelopment
• Existing retail study as guidance
• BID shuttle service – trolley service can be expanded
• Pop up galleries could be encouraged in vacant space
• Three or four levels of structured parking at the train station could be constructed without affecting viewshed
• Lots of opportunities on Lower South Street, building behind Holiday Inn – Franklin /Lindy building
• Trolley driver is an ambassador for Peekskill
• Improvedwayfindingsignageandbanners
• Starting the process to get BID assessment removed from the tax cap
• Cityhasitsownfiberopticnetwork
Paramount Theatre interior
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 18
feedback (cont’d)
OPPORTUNITIES (cont’d)
• Ford Piano building possibility for modern music museum
• City of Beacon as an example, Peekskill can focus on building apartments and condos and encouraging retail
• Peekskill’s waterfront is an opportunity for large scale market-rate development
• Attracting millennials and others to live on waterfront accommodating active lifestyles on the river and mountain biking
• Peekskill as a ‘business’ – competing with Brooklyn, Stamford, and South Norwalk
• Peekskill – outdoorsy version of South Norwalk
• Millennials value experiences over possessions, outdoor adventure (on the river)
• Promote Hispanic culture as a plus
• Promote music festivals
•
• The Park/pier can be animated with a place selling food and drink to attract people
• Fifty new lofts for artists coming on line
• City can encourage more boutiques not just nail salons . Encourage a Whole Foods/Trader Joe’s or organic super market to locate in Peekskill
• Citycoulduseaflexiblespaceforartiststoincluderetailandroomforworkshops
• BID could facilitate monthly studio/gallery crawl
• With lots of live music Peekskill can capitalize with more outdoor festivals including music and entertainment offerings, regional capital for rhythm and blues music
• Building the image of Peekskill is probably the best thing we can do
• Peekskill can endeavor to become multi-media capital of Hudson Valley
Propane business with railroad access and opportunity for similar or manufacturing operation
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feedback (cont’d)
THREATS
• Peekskill has an aging infra-structure in need of investment
• Aging housing stock
• Retail magnets moving out and not being replaced
• Business people fear that the economy is undermined by lax enforcement of codes
• Public perception that some areas of downtown are unsafe
• Water issues – aging infrastructure
• City’s image – perception of safety issues
• School system faces multiple challenges
City of Peekskill Fire Station to be decommissioned and ready for redeveloment
The Hat Factory Multi-Media buildings
Westchester Community College Center for Digital Arts
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 20
Former White Plains Linen buildings; opportunity for redevelopment
Ford Piano – music retail and tourism resource
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images
Division Street Guitars – music store and live music venue
Retail Book Store
Retail book store – Bruised Apple
The Peekskill Business Improvement District, a key player in the economic development of downtown Peekskill
Downtown streetscaping, important elements in making the downtown more attractive and inviting
Historic site downtown – opportunity for historic and heritage tourism
CITY OF PEEKSKILL INDUSTRIAL DEVELOPMENT AGENCY | 24
New business on Division Street (accupuncture, massage spa)
The Hudson Room, upscale dining and live music
Live music at the Bean Runner downtown
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The Peekskill Waterfront is key to the city’s economic development potential as an area for active recreation, tourism and an amenity for market rate development.
The waterfront River Walk, an important recreational and tourism resource
The Paramount Theatre National and Regional Music and Theatre venue (South Side Johnny and the Asbury Jukes)
Submitted by Lewis C . Wendell, Principal lcwendell@gmail .com Tel: 646 .371 .9372