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IDA cites completion of 147 Cannon Street redevelopment into 200,000-sq.-ft. warehouse
Summary
The IDA reported completion of the redevelopment of 147 Cannon Street into a 200,000-square-foot warehouse; the project did not receive a PILOT but benefited from sales tax and mortgage-recording tax exemptions.
CEO Maggie Alex told the board the IDA completed the revitalization of the former junkyard at 147 Cannon Street into a 200,000-square-foot, state-of-the-art warehouse building. "And lastly and probably most notable was the completion of 147 Cannon Street, which was, the revitalization of the former junkyard into a 200,000 square foot state of the art warehouse building," she said.
Maggie added that the property did not receive a payment-in-lieu-of-taxes (PILOT) agreement but the developer benefited from sales tax and mortgage-recording tax exemptions. The board accepted the annual report that lists the Cannon Street project among its 2025 accomplishments.
