NEWBURGH – Developers of One Lafayette, a mixed-use residential project to include 145 affordable and workforce apartments in the City of Newburgh, received broad-based support from dozens of city residents at Monday night’s city council session.
Resident after resident said the project would help fill the housing shortage, and at reasonable rents and boost the overall economy of Newburgh.
Developer Andrew Schrijver said his project is a win-win for the city.
“One Lafayette is more than just housing, though. It’s a strategic investment in the Liberty Street commercial corridor,” he said. “This site has sat vacant since 1981. Now we have an opportunity to reweave the urban fabric and add up to 300 new residents, activate storefronts, and support existing businesses with increased foot traffic and consumer demand.”
Some residents expressed concern over a proposed 10-year payment-in-lieu-taxes, but Schrijver said the vacant lot right now generates under $10,000 a year in taxes while over the life of the PILOT, the project would generate $8 million.
The project would be located in a vacant lot in front of the Foundry residences adjacent to Washinton’s Headquarters.
Leave a Comment