A New Chapter for Newburgh’s Waterfront
2 Washington is transforming an underutilized parking lot into something the whole community can enjoy. With new homes, local jobs, and a welcoming riverwalk along the Hudson, it’s designed to bring more life, energy, and opportunity to the waterfront.
From open green spaces to places to walk, gather, and relax, this is about creating a waterfront that feels more connected, more accessible, and more enjoyable for everyone who calls Newburgh home.
Project Overview & Ownership
The proposed development is a joint venture between the Bonura and Kaplan families (collectively referred to as the “Developers”). The Developers have owned the property, located at 2 Washington Street (the “Property”), since 2017.
No. The Property is privately owned and has been owned by the Developers since 2017. The City of Newburgh has never owned the Property. Historically, the Developers have allowed the public to park on the site, and will continue to do so once the project is completed.
No. There is no public street running through the Property. The Property has an address of 2 Washington St. Washington St runs parallel to the Property on its southern side. Front St terminates perpendicular to the Property on its northern side.
No. The site has been used for commercial purposes for more than 100 years and has long functioned as a commercial waterfront property.
Redevelopment of the waterfront has been a long-standing goal of the City of Newburgh. In recent years, the city has experienced increased economic activity and growth. These trends, combined with the relocation of the Newburgh-Beacon Ferry operations away from the site, have created an opportunity to redevelop a large and underutilized Brownfield waterfront property. This privately-owned parking lot parcel could be turned into much higher use and become a significant contributor to Newburgh’s property tax revenue. Bringing high quality housing to the City of Newburgh will also lower housing costs for families by relieving pressure on existing housing stock. Attracting empty nesters, young professionals and families to live in the City of Newburgh supports all City businesses not just those on the Waterfront.
What’s Being Built
The Developers are proposing a mixed-use project consisting of:
• Five buildings
• 172 market-rate apartments
• Approximately 25,000 square feet of Class A office space
Each building will be five stories tall and constructed on top of a podium parking structure. The ground level of the podium will provide covered parking. The enclosed parking located beneath the buildings will provide the parking required for the project, preserve public parking to the west of the building and shield parking from view from the Hudson River.
The proposed total height of 65 feet complies with Newburgh’s waterfront zoning regulations. In addition, the Developers completed the required viewshed analysis from the City’s six designated vantage points, which shows little to no obstruction of Hudson River views from these locations.
Community Benefits & Economic Impact
The office tenant is a national financial services firm that plans to consolidate four Hudson Valley offices into one centralized location in the City of Newburgh. Approximately 110 employees will be relocated to the new office.
Currently, the Property functions primarily as an underutilized parking lot with little to no green space. The redevelopment will provide several public benefits, including:
• Over $500,000 annually in property tax revenue to the City of Newburgh
• 120 full-time jobs
• Cleans up a Brownfield site and allows for public access
• Construction of a 12-foot-wide public riverwalk along the Hudson River
• Landscaped open space with less impervious surface after the project than now
• Park benches and seating areas
• Walkability improvements such as sidewalks and bike racks
• Designated areas for food trucks and food carts
• New residents and office workers who support existing City of Newburgh businesses
The development will add significant new taxable value to the City’s tax base. This additional tax revenue will help support services provided by the city, school district, and county. Over time, as more taxable properties come online in the City of Newburgh, property taxes will hopefully be reduced for City residents.
Yes. Consistent with the City of Newburgh’s Uniform Tax Exemption Policy, the Developers intend to apply for a PILOT only for the office portion of the project, which will relocate 110 high paying jobs to the City of Newburgh.
The residential portion of the development will not receive a PILOT. The 172 market-rate apartments will be assessed by the City of Newburgh’s assessor like the rest of the housing units throughout the City.
Even with the PILOT, the Developers estimate the project will generate over $500,000 annually in property tax revenue.
Environmental Impact & Safety
Yes. The development is designed to comply with floodplain and resiliency requirements.
For this reason:
• Residential and office space will not be located at ground level
• Parking will be located beneath the buildings
• The project will incorporate modern stormwater management systems
These measures are designed to protect the buildings and surrounding environment.
The project will undergo an environmental review in accordance with state and local regulations. This review evaluates potential impacts related to traffic, noise, water quality, and other environmental factors, including the Brownfield cleanup.
No. The existing parking lot does not include modern stormwater management infrastructure. The new development will include modern stormwater management systems designed to reduce runoff and protect the Hudson River.
The project will install a new stormwater management system, including infrastructure designed to collect, treat, and manage stormwater before it is discharged.
Traffic, Parking & Infrastructure
A third-party traffic engineering firm has completed a traffic study. The study concluded that the development is not expected to materially increase traffic in the surrounding area.
Residents will park in covered parking areas located beneath each building as well as in adjacent parking areas located north and south of the buildings.
The Developers also plan to provide approximately 250 outdoor parking spaces for public use on the western side of the Property, allowing visitors to continue enjoying the restaurants and amenities along the Newburgh Waterfront.
No. The parking lot will be closed during construction but will reopen after completion of the project. Other waterfront parking lots will remain open during the construction period.
The Ferry was operated by New York Waterways through an agreement with the MTA and City of Newburgh. The City of Newburgh was funded through the same agreement with the MTA and leased parking spaces from the Developers. The MTA terminated the funding for the Ferry and as a result the lease agreement was terminated on 12/31/2025. It was not the decision of the City of Newburgh nor the Developer to terminate the Ferry operation or parking lot lease.
Public Access, Amenities & Waterfront Experience
Yes. Public access to the waterfront is an important part of the project.
The development will include a new 12-foot-wide riverwalk along the Hudson River shoreline, which will be fully accessible to the public and include seating areas and landscaping. During warmer months, the Developers anticipate activating portions of the riverwalk with food trucks and food carts.
It is important to note that during the Developer’s environmental investigation work, it was discovered that the Property is a Brownfield site . In light of this new information, and to protect the public, access to unpaved areas of the Property has been fenced off. Once the cleanup project is complete, the public will have safe access to the Hudson River via the Riverwalk and also through the site via parallel sidewalks.
Yes. The project will include a public riverwalk and landscaped open space accessible from both Washington Street and Front Street.
Sidewalk access from both Washington St and Front St will allow visitors to easily locate the Riverwalk along the Hudson River.
Residential & Commercial Use
No. The project does not currently include new restaurant or retail space.
The Newburgh Waterfront already includes 10 restaurants, and the area has experienced significant turnover in restaurant tenants over the past several years. In addition, previous retail uses along the waterfront were not successful. For these reasons, the Developers determined that additional restaurant or retail space is not currently feasible for the Newburgh waterfront.
No. The residential portion of the project will consist entirely of market-rate housing and will not be designated as senior housing.
Timeline & Construction
The Developers expect to begin site work in Summer 2026, followed by vertical construction in Fall 2026. The two northernmost buildings are expected to be completed and ready for occupancy in approximately May 2028.
Approvals, Zoning & Process
The project must undergo review and approval by several city boards, including:
• City of Newburgh Planning Board
• Zoning Board of Appeals
• Conservation Advisory Council (approved on 3/2/2026)
• Traffic Advisory Council
Yes. The project will require four zoning variances.
• City of Newburgh Code Section 300-139B(1)(C) requires a maximum front yard setback 10 feet.
• City of Newburgh Code Section 300-139B(1)(D) requires a maximum side yard setback 15 feet.
• City of Newburgh Code Section 300-139B(1)(G) requires a minimum frontage occupancy of 80%.
The above three variances result from the Property frontage being on Washington St. There is no public street running through the Property. The zoning code for the Planned Waterfront District appears to have been focused on the Front St and Water Street lots. In order to comply with the three requirements above, the proposed buildings would need to be constructed in a way to be parallel with the short section of Washington St the extends past the railroad tracks and no more than 10 feet from the road. If this were the case, the buildings would completely block vehicle and pedestrian access into the Property, which would make no sense to do.
• City of Newburgh Code Section 300-139B(1)(EE) requires a 40-foot minimum setback from Hudson River. Due to the irregular shape of the Property and the jagged Hudson River coast, it is not feasible to comply with this requirement. Developer seeks a de minimis variance to one small corner of one building that encroaches the setback by a few feet.