BRP 466 Main Street Mixed-Use Development PILOT
New Rochelle
Summary
The developer is seeking a 25-year tax abatement and financial assistance package for a $286 million mixed-use project featuring 489 units and 49 affordable apartments. Residents and board members scrutinized the long abatement period, questioning if the public benefits and local hiring commitments justify the tax relief.
At a glance
- Total mentions
- 2
- Last 30 days
- 0
Last discussed Jun 24, 2026.
Impact analysis
Generates approximately $31.4 million in PILOT revenue over 25 years and $11 million in one-time fees, against an estimated $62 million in tax exemptions and benefits.
The developer, lenders, and future residents of the market-rate and affordable housing units.
Taxpayers and local small property owners who bear standard tax burdens while large developments receive long-term tax breaks.
Mentions & discussions (3)
IDA Meeting (No CLD this month) - Jun 24, 2026
The developer is seeking a 25-year tax abatement and financial assistance package for a $286 million mixed-use project featuring 489 units and 49 affordable apartments. Residents and board members scrutinized the long abatement period, questioning if the public benefits and local hiring commitments justify the tax relief.
IDA and CLD Meetings - May 27, 2026
BRP Companies is proposing a major mixed-use development at 466 Main Street featuring 489 residential units, retail space, and parking. The project includes 10% affordable housing and aims to revitalize a key downtown corner.
Renderings Reveal Two-Tower Residential Complex at 466 Main Street in New Rochelle
Renderings Reveal Two-Tower Residential Complex at 466 Main Street in New Rochelle New York YIMBY
Related development
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