Fenway Sports Group has acquired several land parcels and property around the ballpark in recent yearsBOSTON BUSINESS JOURNAL
The Red Sox and Fenway Sports Group are in the "early stages of exploring real estate development opportunities for property the team controls in the neighborhood surrounding Fenway Park -- potentially including air-rights development over the Massachusetts Turnpike," according to Catherine Carlock of the BOSTON BUSINESS JOURNAL. Red Sox President & CEO Sam Kennedy "dubs the effort 'Fenway 3.0,' following the footsteps of Fenway 2.0, a decade-long project to preserve and enhance the historic ballpark." Kennedy said, "The Red Sox and the Fenway Sports Group, with some of the parcels that we've invested in, now we should start to turn our attention outside of the ballpark to make sure that we also invest in the neighborhood, to make sure that there's responsible development." Boston Planning & Development Agency Dir of Communications Bonnie McGilpin said that there have been "no formal discussions" between the organization and Red Sox regarding the initiative. But sources said that Red Sox leadership has "begun high-level discussions with Boston developers and builders to examine what could be built on property the team owns around Fenway Park." A source added that the team is "considering developing a master plan to play a more direct role in the Fenway neighborhood's ongoing transformation." Carlock notes the Red Sox and FSG for years have "acquired land parcels and property" around the ballpark. A Massachusetts DOT spokesperson said that both organizations have "development rights on air-rights parcels 8, 9, and 10 as part of a joint venture" with Massachusetts-based Meredith Management. The spokesperson added that MassDOT has "not received any new development proposals." There is currently "no defined timeline for the Red Sox' development plans" (BIZJOURNALS.com, 8/20).
