By Maria M. Silva
Publication Date: 2026-03-04 13:00:00
ULSTER – Ulster County will begin the process of reclaiming two parcels at the former IBM complex in the town of Ulster after a developer who vowed to revamp the site failed to make mortgage payments for three years.
The Ulster County Economic Development Alliance Board voted last week to begin the foreclosure process on two properties on the west campus of iPark 87 – formerly known as TechCity – in the town of Ulster. The developer, Connecticut-based National Resources, has not made a single mortgage payment since acquiring the properties in 2023. The company now owes Ulster County nearly $4 million in missed annual payments, late fees, default interest and other charges, plus $628,000 in property and school district taxes, according to the county.
The foreclosure only impacts the two west campus parcels – the former Bank of America building at 101-899 Enterprise Drive and an adjacent vacant lot at 605-695 Boices Lane.
It does not affect the east campus, where redevelopment has…
