Paterson, NJ (2021)

Hinchliffe Stadium Rehab

Investment

NMTC Amount: 21,000,000

Total Project Cost: 59,304,671

IMPACT

22 FTE jobs

94 construction jobs

At least 30% of construction and permanent jobs will be targeted to minority and/or local residents.

NMTC financing will power reimagination of historic former Negro League baseball stadium in Paterson, N.J.

Project Description

NMTC financing will power reimagination of historic former Negro League baseball stadium in Paterson, N.J.

The financing also includes $21 million of NMTC allocation from four Community Development Entities: Community Loan Fund of New Jersey, Consortium America, RBC Community Development and USBCDE.

The financing will enable the ongoing redevelopment of the stadium, which officially broke ground in mid-April. The construction process is expected to last approximately 18 months, with delivery expected in the fall of 2022. The $94-million development plan will restore the former home of the Negro Leagues baseball and also feature a 315-space parking garage and a six-story, 75-unit senior housing.

MAP

186 Maple Street, Paterson, NJ 7522

Video

News Stories

NMTC financing will power reimagination of historic former Negro League baseball stadium in Paterson, N.J.

Paterson, NJ

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