The Cornell Steamboat Company Building is a landmark waterfront property rich in maritime and industrial history. Originally home to the Cornell Steamboat Company - once the largest tugboat fleet in the U.S - the facility operated from the mid-19th century until the mid-1940s. At its height, cthe company maintained 62 tugboats, barged over a million tons of coal annually to NYC and surrounding regions, and employed hundreds. Cornell ceased operations in 1963 due to disruptions in the transportation industry.

Over the decades, the building has evolved through multiple uses. It served as a machine shop, boiler repair shop, and lumber storage facility during its industrial years, and later operated as a lumber yard and building supply company (Miron) until the 1970s. More recently, it has been repurposed for artistic and cultural uses, including as an artist studio, storage depot, and venue for ArtPort Kingston’s art events.

Currently, the building is home to the Fleet Obsolete Restoration Project, a 501(c)(3) nonprofit chartered by the New York State Education Department. This organization rescues and restores historic vessels from the 19th and 20th centuries, developing museum exhibits and educational experiences to preserve and share maritime heritage with the community.

Located in an “eligible historic district” in the Rondout waterfront area of Kingston, the building is uniquely positioned for adaptive reuse. Owned by HKWR, who also holds the trademark and corporate rights to the Cornell Steamboat Company™ name, the building is envisioned as a hub of innovation and heritage. Future plans include transforming the space into a vibrant mixed-use destination with potential for event venues, creative offices, educational spaces, food hall concepts, and maritime programming.

As part of Kingston’s designated Opportunity Zone, the redevelopment of the Cornell Building offers compelling tax incentives for investors. Benefits include:

Temporary Deferral of capital gains taxes until 2026 or disposal of the investment.

Step-up in Basis for long-term investments: a 10% increase after 5 years, and 15% after 7 years. 

Permanent Exclusion of new capital gains for investments held over 10 years.

With its powerful blend of historical significance, creative momentum, and economic incentives, the Historic Cornell Steamboat Company™ Building stands as a model for sustainable and inspired waterfront redevelopment.