This picture was taken back in 2013, when any hope of rehabilitation seemed far away and almost impossible. It was a mansion that had seen better days, that would have surely fallen victim to the decay and neglect that so many other surrounding homes had succumbed to.
I don’t remember the exact year I took this photo, but it was already when RUPCO had taken over and began rehabilitation work. So much more to go, but so many huge improvements could be seen already.
Fast forward to 2019 and the project has complete for some time now. It’s a before and after that is a favorite by many. It now is a multifamily property managed by RUPCO.
$167K assessment? I get the tax break theory, however, the extent in which any city can tap into the muni bond market is determined by the city’s valuation. Aside, these private public developments need to start paying dividends in terms of growing the city’s median income level, asap. Newburgh’s costs are growing at a faster rate than its current demographics will support. Tic…toc, ten years tops before the remaining ‘boomers’ have migrated out of the state leaving the younger tribe with the accumulated bill (I see an exit tax in N.Y.’s future). Fees and fines, aka “creative revenue”, aren’t going to cover the Burgh’s funding gap. Hence the push for street cams, license plate readers and wi-fi ‘hot spots’… to incite a much needed “soft” gentrification, imo.
https://www.youtube.com/watch?v=FqUzcVs_yG4