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East Bank Flats rendering

A forthcoming affordable housing development in the East Bank is expected to be financed through a state tax incentive program.

The East Bank Development Authority on Feb. 24 approved a 15-year payment in lieu of tax agreement (PILOT) with Elmington Capitol Group, the developer behind the soon-to-be-built East Bank Flats — a 323-unit multifamily building that will sit near the new NFL stadium (construction for which continues).