Hinchliffe Stadium Rehab

New Markets Tax Credit Coalition

Paterson,
NJ
(2021)

Hinchliffe Stadium Rehab

Community, Restaurants and Catering, Retail and Commercial, Theaters and Performing Arts Spaces

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

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.

CDEs

Consortium America, New Jersey Community Loan Fund, RBC Community Development, USBCDE

Investor

US Bank

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

Address: 186 Maple Street, Paterson, NJ 7522

Census Tract: 34031264200

Site Visits

Congressman Pascrell (D-NJ) Attends Groundbreaking for Hinchliffe NMTC Project

Congressman Bill Pascrell (D-NJ) attends a groundbreaking for the revitalization of the Hinchliffe Stadium

Learn more...

Dec-2021

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