The state legislature earmarked $100 million to develop the infrastructure for a ballpark in the Fenway, near the old ballpark. But those plans appear to have stalled and with the Red Sox up for sale, it has become clear that the new owner will decide where the new team will be located.
Local developer Frank McCourt has been aggressively campaigning to have the ballpark built on his 25-acre waterfront parcel and his recent bid for the team makes his plan more of a possibility. But a ballpark on the waterfront would require serious infrastructure improvements--specifically to the roadways--to prevent traffic bottlenecks. And that is where the Fenway's $100 million comes in.
State Representative Jack Hart, who serves on the Transportation Committee, recently met with House Speaker Thomas A. Finneran to discuss infrastructure money for a waterfront ballpark. While Hart reportedly would like to see money go to develop this infrastructure, Charles Rasmussen, spokesperson for Finneran, tells GlobeSt.com that the new owner of the Red Sox "would have to deal with the legislature to get infrastructure money."
Rasmussen emphasized that there would be no possibility of transferring funds and that the speaker has no preference as to where the ballpark should be built. "The Speaker feels that the people who buy the team will make a decision," notes Rasmussen. "That $100 million was specifically set aside for a park in the Fenway. The speaker wouldn't say you can't get $100 million if you build anywhere else but that money was specifically for the Fenway park." Rasmussen adds that the speaker does not view himself as a player in the sale of the Red Sox. "Many people see McCourt's site as good for the ballpark," he says.
That includes Councilor Michael Flaherty, who has vocally supported McCourt's plan since its inception. Flaherty also reportedly met with Finneran to discuss infrastructure money for a waterfront ballpark.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
