X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BOSTON-While the general consensus holds that the Boston Red Sox need a new ballpark and though a number of venues have been bandied about recently, the idea of rebuilding Fenway Park was thought to be a dead issue.

But recently a renovation plan for the park submitted by television executive Tom Werner and skiing entrepreneur Les Otten–partners in one of seven groups bidding to buy a controlling interest in the team–has captured the attention of the team’s construction advisor, James Walsh, who has dismissed a number of other proposals to rebuild Fenway.

“It is an interesting plan,” Walsh tells GlobeSt.com but he is quick to add that it “needs a detailed analysis.” Werner and Otten’s group is currently the only bidder for the team that has stated its intention to rebuild on the site of the current Fenway Park. Local preservationists and activists have been campaigning to keep Fenway Park–the country’s oldest ballpark–open.

Werner and Otten have reportedly been emphasizing the obvious advantages to rebuilding Fenway Park. Namely, the cost saving in not having to purchase a new site and in not having to maintain two properties while the park is being rebuilt. “This is a new scheme,” says Walsh. “It’s innovative and deserves further study.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.