One Lafayette Street Project
Newburgh
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
A payment-in-lieu-of-taxes agreement for the Bourne and Kenney affordable housing development would set how much the project pays the city instead of full property taxes.
1 Lafayette Project PILOT Agreement
A 144-unit affordable housing project at 50-54 Liberty Street is seeking a 30-year tax exemption. Council is fighting for deep affordability (16 units at 30% AMI), priority for descendants of families displaced by urban renewal, and protections learned from the Kenney Apartments saga — while the developer warns some terms could scare off tax credit investors.
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