Empire State Development Announces Completion of Retail Space at "The Academy" in Poughkeepsie

 Project's Ribbon Cutting Celebrates the Creation of Food Hall, Food Market and Event Space in City's Central Business District

Empire State Development (ESD) today announced the completion of The Academy’s food hall, food market and event space in Poughkeepsie, Dutchess County. Located at 33 Academy Street in the heart of the city's central business district, The Academy will also establish a co-working space to be finished in September and 28 affordable apartment units which will be completed by the end of the year. This project furthers the city and the region's efforts to promote the area as a place to live, work and play, encouraging young adults to establish roots in the community. Baxter Building Corporation, the developers for this project, have committed to the creation of 65 new jobs.

 ESD President, CEO and Commissioner Hope Knight said, "New York State is committed to investing in projects that that strengthen our downtown centers and supports local economic development. The Academy, with its modern mixed-use space and amenities and is a great example of how we are committed to increasing the vibrancy of our city centers to make them attractive to new residents looking for walkable livable communities."

Baxter Building Corporation, the developers for this project, are investing more than $13 million to renovate the formerly underutilized commercial spaces at 31-35 Academy Street. This mixed-use development is uniquely positioned to be a vibrant hub of activity for the downtown neighborhood and the community. Upon completion, The Academy will include 28 apartment units, a grocery, food hall, restaurant, brewery, co-working and event space all under one roof, serving as a cultural catalyst where the best of Hudson Valley products and produce will be newly accessible, attracting locals and visitors from attractions such as the nearby Walkway Over the Hudson. The co-working space will invite and house numerous small businesses, independent professionals, and entrepreneurs to help catalyze economic growth.

Amanda Baxter, President of Baxter Building Corporation and owner of The Academy, said, “Poughkeepsie is growing into a thriving residential and commercial city, and we are proud to reimagine The Academy as a local community hub for business and culture.”

Eric Baxter, Vice President of Baxter Building Corporation and owner of The Academy, said, "“A core mission for Baxter is to develop and pave the way for collaboration and growth for the region’s local and emerging businesses. The Academy will be a welcoming establishment, cultivating a place to create, to relish, and to gather."

This project was identified as a priority project by the Mid-Hudson Regional Economic Development Council during Round VIII of the Regional Council process. Empire State Development has agreed to provide a capital grant of up to $1.1 million in exchange for 65 new jobs in Poughkeepsie.

Mid-Hudson Regional Economic Development Council co-chairs Marsha Gordon, President & CEO of The Business Council of Westchester, and SUNY Orange President Dr. Kristine Young said, "The Academy project is a prime example of the best is yet to come for the Mid-Hudson Region. This multi-use complex will offer in a place where people can live, work and play, will be a catalyst to energize downtown Poughkeepsie and add to the city’s appeal.”

Senator Sue Serino said, "This is an exciting day for Poughkeepsie, and the Hudson Valley as a whole. As we work to rebuild in the wake of the COVID-19 pandemic, it's the completion of unique developments like this that will help revitalize our community and move us forward. The Academy truly has something for everyone, and it is a space that both residents and visitors alike can enjoy. We thank the Baxter Building Corporation for recognizing all the great reasons to invest in our local community and we cannot wait to see all the ways our neighbors enjoy this great new space.”

Assembly Member Jonathan G. Jacobson said, "I applaud Baxter Construction for this innovative project. This project is a great example of a successful public-private partnership. The Academy will help revitalize an important part of downtown Poughkeepsie which will benefit all of the residents of Poughkeepsie and the region.”

Dutchess County Executive Marc Molinaro said, "The redevelopment of the long vacant and high-profile buildings at the heart of the City of Poughkeepsie’s business district will be a catalyst for the attraction of other businesses, residents and investment to the city. I greatly appreciate the Baxter Family’s continued investment in the City and the Mid-Hudson Regional Economic Development Council’s support of this important project.”

City of Poughkeepsie Mayor Rob Rolison said, “The Academy project is taking a big step today with the launch of a food hall, food market and event space, with more to come. We so look forward to the benefits these businesses will bring to the community. The Academy is a perfect fit as our revitalization efforts continue in the city’s innovation district and throughout the city.”

About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the New York State Regional Economic Development Councils and the marketing of "I LOVE NY," the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, please visit www.regionalcouncils.ny.gov   and www.esd.ny.gov.

Contact:

Kristin Devoe | [email protected] | (518) 414-1087 
ESD Press Office | [email protected] | (800) 260-7313