"This plan will address the longstanding transportation, publicsafety and environmental issues affecting the Fenway, and willenhance the quality of life for the entire neighborhood,"Harrington is quoted as saying in a released statement.

The plan includes $27 million for road and traffic improvements;$17.5 million pedestraian and landscape improvements; $22.2 millionin public transit improvements; $20.4 million in water sewer, floodcontrol and utility upgrades throughout the Fenway area, and $13million extra if upgrades are needed.

Harrington's recent decision to sell the team could mean thatthe new owner would want to move the Red Sox. Land costs are veryhigh in this area and $350 million in private financing is neededto construct the ballpark. The ballpark legislation is sitespecific, meaning anyone who decides to build in another locationwould forfeit the $100 million in state aid.

Continue Reading for Free

Register and gain access to:

  • 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
NOT FOR REPRINT

© 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.