One Lafayette Street Project
Description
A roughly 144-unit affordable housing project seeking a 30-year PILOT under Private Housing Finance Law Section 577. The council is negotiating the final terms — unit mix, payment schedule, recapture rules, and community benefits — with a possible vote Monday night.
Impact summary
This would be one of the city's biggest new affordable housing buildings — with a developer commitment of 16 units at the deepest 30% AMI level, double what the earlier IDA deal promised — plus requirements on property maintenance, local hiring, and priority for urban renewal descendants.
Applicant
- Name
- One Lafayette LLC / One Lafayette Housing Development Fund Corporation
- Address
- 50-54 Liberty Street, Newburgh, NY (Section 40, Block 6, Lots 1.1, 11, 12, 13)
At a glance
- Hearings
- 1
- Public comments
- 0
- Total mentions
- 1
Recorded in the meeting · City Council
Discussed at 1 meeting in the last 60 days; most recently Sep 24, 2026.
Meeting timeline (1)
Related issues (2)
Bourne and Kenney PILOT agreement
The council pushed for stronger language to protect residents of the Kennedy Homes development, but the developer's attorneys haven't responded yet. The item stays on the table pending Monday's council meeting.
1 Lafayette Project PILOT Agreement
A 144-unit affordable housing project on a vacant Liberty Street lot needs a city council PILOT after a new state prevailing-wage law invalidated its IDA approval path. The council has no formal PILOT review process, and several members say they need time and criteria before approving a 30-year tax deal.
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