City of Poughkeepsie officials are pleased to announce that more than $3 million in state funding has been awarded for various economic and community development projects in the City.
The largest award, $2 million, is going to the Bow Tie Cinemas project. Bow Tie is planning to build a $11 million, nine-screen movie theater in a section of the Crannell Street parking lot. The city also is receiving $100,000 to update its comprehensive plan and zoning laws, as well as $100,000 for a sewer inflow and infiltration study.
“These funds will make a huge difference as we work with developers on a signature downtown redevelopment project,” said Mayor Rob Rolison of the Bow Tie award. “In addition, other monies will move us further along to making much-needed infrastructure repairs and to get to work on improving the comprehensive plan.”
Bow Tie’s 40,000-square-foot theater would be adjacent to an innovative mixed-use development proposed by the Kearney Realty and Development Group. The Kearny project was recently awarded Upstate Project of the Year by New York State Association for Affordable Housing.
These projects promise to transform that part of the City, and City officials say the plans mesh nicely with what the City had in mind when, earlier this year, it approved an Innovation District for the core commercial section of the City’s downtown area.
Bow Tie Theater is expected to create between 40-45 permanent positions and draw 300,000 visitors into the City each year.
“We are excited the project is moving forward and appreciative of the City’s forward thinking approach to reinvigorating downtown,” said Ben Moss, CEO of Bow Tie Cinemas.
The state funding, announced Thursday, is coming from the Regional Economic Development Council (REDC) initiative, created by Gov. Andrew Cuomo in 2011. The Councils are public-private partnerships made up of local experts and stakeholders from business, academia, local government, and non-governmental organizations. The REDC deemed the Bow priority project in this round of funding.
Poughkeepsie organizations and other area initiatives also are receiving funding. They include Family Services receiving $490,000 to make renovations at the Family Partnership Center, and the Walkway Over the Hudson being awarded $588,562 to continue a comprehensive lighting project.
For a complete list of project awards and for more information on the Regional Councils, go to www.regionalcouncils.ny.gov.