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Hinchliffe Stadium Rehab

Paterson, NJ (2021)

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

COMMUNITY IMPACT
  • 22 FTE jobs
  • 94 construction jobs
  • At least 30% of construction and permanent jobs will be targeted to minority and/or local residents.
FINANCING SOURCES
  • NMTC amount: $21,000,000
  • Total Project Costs: $59,304,671
  • CDE:
PROJECT LOCATION

186 Maple Street

Paterson, NJ 7522

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.

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