FOR IMMEDIATE RELEASE: Monday, June 22, 2015

Family Friendly Dining Option Now Available at the Center City Mall

Paterson, NJ
The New Jersey Redevelopment Authority (NJRA), an affiliate of the NJ Department of Community Affairs, today joined developer team Adenah Bayoh and G. Winston Smith, FOYA Foods, Inc. and partners for a ribbon cutting to commemorate the grand opening of the International House of Pancakes (IHOP) located at the Center City Mall in Paterson. This project is part of an overall economic development/redevelopment effort in the Downtown District of Paterson. The NJRA, through the Redevelopment Investment Fund (RIF), provided a $600,000 direct loan for the project. 

"It is these types of investments that contribute to the overall redevelopment of cities like Paterson, said New Jersey Department of Community Affairs Commissioner Charles A. Richman.  "Amenities like the IHOP and the Center City Mall itself add livability and enliven the City.  We are delighted that IHOP is making a commitment to the continuing revitalization of downtown Paterson."

The NJRA provides financial and technical resources to support urban redevelopment initiatives throughout the State. Through the Redevelopment Investment Fund, the NJRA is able to offer direct loans, real estate equity, loan guarantees and other forms of credit enhancements. RIF financing for the Paterson IHOP project allowed for the purchase of equipment and costs associated with the build out of the restaurant. Rates associated with the RIF program are typically below market rate. Terms are determined based on the assets being financed, as well as the financing needs for sustainable project development. Typically, terms regarding loan maturity match those bank partners on each specific project.

"NJRA is pleased to be a partner in the IHOP project," said NJRA Executive Director Leslie A. Anderson.  "This project further stimulates the rebirth of Paterson and will make a substantial impact in the Main Street Redevelopment Area."

"Not only did we make a financial commitment to the project, we also made commitment to the community and will provide the necessary support to see it flourish."

The 8,000 square foot project, which cost approximately $1.4 million to develop, will create several family sustaining jobs and full-time/permanent employment. It is anticipated that 14,000 customers will visit the location monthly due to close proximity of Passaic County and municipal civic institutions, the primary business district and access to public transportation.

One of the goals of the project is to create jobs for local residents. FOYA, the franchise operator, is working with the Passaic County Workforce Investment Board to ensure the placement of Paterson residents in 90 full- and part-time positions. In addition, the actual build out provided more than 50 construction jobs. 

The Department of Labor granted 12 on-the-job training contracts for the location, helping unemployed residents gain the skills necessary to compete in one of the state’s key industries. IHOP restaurant manager Joseph Knight is a former Passaic County One-Stop Career Center customer, having participated in its Summer Youth Employment Program.

The Department and the Passaic County Workforce Investment Board (WIB) also assisted restaurant management in recruiting, training and hiring 68 people to staff the new restaurant by facilitating hiring events and referring job-seekers to apply for positions ranging from assistant managers and crew chiefs to wait staff.

"It is a pleasure to be here to cut the ribbon for a new business in Paterson. Our successful partnership with the IHOP franchise has helped to connect local residents with new job opportunities," said Commissioner Harold J. Wirths of the New Jersey Department of Labor and Workforce Development. "New business developments are positive steps towards fortifying our economy. It’s a great day for the city of Paterson and a great day for New Jersey."

The development team is highly experienced in business management/operations and from a leadership perspective; Adenah Bayoh and G. Winston Smith are experts in their respective fields and bring major entrepreneurial and business acumen to the project.

FOYA Foods, LLC (FOYA) is an experienced franchise operator of an IHOP restaurant in Irvington, NJ.  The Irvington IHOP location was opened in 2008 and remains one of the top grossing in the NJ, NY region. FOYA's Irvington IHOP grosses over $2.7 million a year. FOYA also operates and manages an IHOP location in Irvington.

NJRA’s mission is to provide a unique approach to revitalization efforts in New Jersey’s cities.  NJRA develops programs and resources to improve the quality of life by creating value in urban communities.

For more information on NJRA programs, visit

Tammori Petty or
Emike Omogbai
(609) 292-6055