277 North Avenue Project Assignment and Tax Abatement
New Rochelle
Summary
The IDA reviewed and approved the transfer of the long-stalled 277 North Avenue development to Lincoln Property Company, along with a 20-year tax abatement and financial package. The 23-story building will bring 442 residential units and ground-floor retail to the downtown corridor, though residents questioned the affordability threshold and labor standards.
At a glance
- Total mentions
- 3
- Last 30 days
- 2
Last discussed Mar 11, 2026.
Impact analysis
Provides approximately $29 million in total tax and fee savings and incentives over the project lifecycle while generating an estimated $24 million net public benefit in incremental tax revenue.
The developer, future residents, and downtown commercial businesses benefiting from increased foot traffic and transit-oriented development.
Taxpayers concerned about granting tax exemptions to luxury housing developments while overall tax burdens rise.
Mentions & discussions (3)
Disabled Veterans Have Until December 1 to Apply for New Rochelle Property Tax Exemptions
Disabled Veterans Have Until December 1 to Apply for New Rochelle Property Tax Exemptions Talk of the Sound
New Rochelle Exempts Disabled Veterans From School Taxes
New Rochelle Exempts Disabled Veterans From School Taxes Talk of the Sound
IDA Meeting - Mar 11, 2026
The IDA reviewed and approved the transfer of the long-stalled 277 North Avenue development to Lincoln Property Company, along with a 20-year tax abatement and financial package. The 23-story building will bring 442 residential units and ground-floor retail to the downtown corridor, though residents questioned the affordability threshold and labor standards.
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