CASE STUDY: Communities 475 Bay Street CASE STUDY: Goldman Sachs provided 昀椀nancing for the ground- Hinchli昀昀e Stadium up construction of 475 Bay Street, a 100% a昀昀ordable development located in the Stapleton neighborhood of Staten Island, New York. The planned development is a Built in 1932, Hinchli昀昀e Stadium was a 10,000-seat baseball 12-story residential building containing 270 units, 51% of stadium known most prominently as the home of the New which are to be set aside for formerly homeless seniors. The York Black Yankees in the 1930s and 1940s. development will include supportive services, in addition to 9,900 square feet of ground-昀氀oor retail space. Goldman Sachs provided a loan through the Passaic County Investment Authority to 昀椀nance the rehabilitation The development falls within New York City’s Bay Street of Hinchli昀昀e Stadium, an important New Jersey historic and Corridor Neighborhood Plan, which is part of Housing cultural landmark that had fallen into disrepair, as well as the New York and seeks to create a new mixed-use district new construction of 75 units of a昀昀ordable senior housing that both builds and preserves a昀昀ordable housing and for households earning up to 60% of AMI. provides a range of retail and services in the former manufacturing district. The rehabilitation is targeted at providing a signi昀椀cant bene昀椀t to the Paterson School District and broader Paterson The project was awarded a subsidy from New York State’s community by enabling Hinchli昀昀e Stadium to once again Empire State Supportive Housing Initiative that will provide be used as a sporting event space and cultural hub for funding for rental subsidies, operating costs, and other costs residents of the surrounding geography. associated with the supportive services to be provided by Selfhelp Community Services, an 85-year-old organization that provides housing stability for seniors. Together with NYC Department of Homeless Services, Selfhelp will help tenants adjust to independent living, which includes upfront onboarding and ongoing needs assessments, organizing wellness activities, and referring to service providers. Sustainability Report 2021 Sustainability Issuance Report | Featured Investments 132