Seeking Public Private Partnership for Waterfront Development
Excellent Opportunity for the Right Developer
The City of Plattsburgh was one of ten communities in New York State selected to take part in Governor Andrew Cuomo’s innovative Downtown Revitalization Initiative (DRI). The City is seeking expressions of interest from real estate developers or investors to develop an 11-acre parcel at 2 Dock Street in the heart of the City’s waterfront. The City is seeking a mutually beneficial partnership with a private entity to develop this landmark site and is willing to contribute significant public resources to ensure the success of this project. The subject parcel is available for sale or lease to the most qualified individual or entity that can best meet the city’s development vision and goals for the waterfront. The subject property is located at 2 Dock Street, in the center of the city’s waterfront and adjacent to Amtrak railroad station, public and private marinas and waterfront parks where some of the city’s main public events are held.
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- A new parking lot with over 300 spaces complete with lighting and landscaping
- An approved remediation plan and tax credit assistance to complete the final stage of remediation
- Full support and clerical assistance through the development review process
- State funding is allocated for aspects of this project. The City is continually exploring additional funding resources.
- Landscaping improvements to the city’s waterfront park to improve lake access views.
- Completion of an independent project feasibility study and analysis of the local hotel and tourism market @(Model.BulletStyle == CivicPlus.Entities.Modules.Layout.Enums.BulletStyle.Decimal ? "ol" : "ul")>
Size: 11 acres adjacent to city parkland and 2 marinas with a total over 200 slips
Amenities: Newly paved parking lot with 341 spaces, lighting and landscaping; sewer and stormwater infrastructure on site; power on site
Electricity: The City of Plattsburgh’s Municipal Lighting Dept. offers among the lowest electric costs in the U.S., as low as .03/KWH.
Current Condition: restored brownfield, approved by the State Department of Environmental Conservation. The final barrier of contact as part of the development will complete the restoration. The site is clean and actively used for large public events
Ownership, Covenants, and Restrictions: currently owned by the City of Plattsburgh with no covenants or restrictions.
Price: Property will be sold or leased to a developer at a negotiated price based on the most attractive development proposal that meets the City’s goals for this property as described above.
Assessment: Tax Assessor records for this parcel show the following
Tax ID: 207.20-1-2.31
Land Assessment: $454,000
Full Market Value: $721,700
Property Class: 570 - Marina
Zoning District: RC-1 permitted uses include: hotel/motel; eating and drinking establishments; retail; recreation and entertainment; personal and business services.
The Plattsburgh economy is growing rapidly. Known as “Montreal’s U.S. Suburb”, Plattsburgh is just 1 hour from downtown Montreal and provides unique advantages for Canadian businesses and investors. It enjoys a high degree of economic integration with Quebec, with more than 100 Quebec based businesses in the immediate area employing an estimated 15% of the county workforce, including a growing cluster of transportation equipment and aerospace manufacturers.
The higher education, medical and tourism sectors are also strong and growing.
Key Economic Indicators show the following:
- Plattsburgh has been ranked #2 Micro-City of the Future by Foreign Direct Investment magazine in all of North and South America (subsidiary of Financial Times). This ranking is up from #4 two years earlier and indicates to foreign investors that Plattsburgh is an excellent place for investments. Other ranking by fDi include:
- Ranked #1 for its foreign investment strategy
- Ranked #3 for business friendliness
- Ranked #1 for Human Capital and Lifestyle
- Establishment of the North American Center of Excellence in Transportation Equipment serving a Plattsburgh centered cluster of 52 Transportation Equipment and Aerospace Manufacturers.
- Several strategic International Partnership Agreements between Quebec and Plattsburgh signed since 2001.
- Unemployment is at 4.2% and the median household income is $50,000
- The aerospace and transportation manufacturing sectors support 8,500 well-paying manufacturing and high-tech jobs or 1/3 of the total 24,500 jobs in the county.
- Plattsburgh International Airport has become a growing secondary airport for Montreal. United Express jet service to Dulles Washington will start on August 22nd, 2018 and a U.S. Customs operation for direct international flights will open this fall.
- The direct annual economic impact of cross-border commerce on Clinton County exceeds $2 billion per the North Country Chamber of Commerce.
- Norsk Titanium and New York State are currently engaged in a $125 million venture in Plattsburgh for the deployment of new 3D technology to produce aircraft components for Boeing.
- Plattsburgh is home to a new Institute for Advanced Manufacturing, fully funded by the state.
- The regional business community has expressed a 96% BUSINESS CONFIDENCE INDEX for 2018.
- Plattsburgh is among the “Top 10 New York State Towns for Millennial Living” per niche.com.
Hospitality Sector Indicators
- Traveler Spending has increased every year for the past 7 years.
- Visitors spent $1.36bil in the region last year and 36% of that went to lodging and food
- New York/Canadian border crossings are up 4% over last year while neighboring Vermont/Canadian crossing is up by only 1% indicating Canadians’ preference for Plattsburgh region.
- Demand for lodging is up by over 7% in each of the last two years while room supply has remained constant
- As a result, hotel lodging revenue is up by 9% over last year
- Occupancy Tax collections are up 12% over last year (January – May 2017 V January – May 2018)
- The site is adjacent to the waterfront centerpiece for 5-6 major international bass tournaments annually.
A two-step selection process will be used to identify the best partner for this project. The RFEI can be found at http://www.cityofplattsburgh.com/Bids.aspx.
Step 1: A response to this RFEI. Developers/investors interested in partnering with the city on this exciting opportunity are asked to submit the following:
Description of Company
- Years of operation
- Indication of company value
- Incorporation information
- General description of assets and holdings
- Number of employees
- Products and services offered
Statement of Qualifications
- Statement of what makes your company unique
- Statement of your greatest strengths and what you would bring to this partnership
- A brief description of what you see as the best project for this property.
Submission Deadline for RFEI Step 1: August 3rd, 2018
Please send the RFEI information to
Director of Community Development
City of Plattsburgh
41 City Hall Place
Plattsburgh, NY 12901
(Submit 4 hard copies and one electronic version on USB flash drive or by email to firstname.lastname@example.org)