The Boston Red Sox have announced another deal as they gobble up as much property as they can around their historic ballpark.
This is great news. I never cared for the Howard Johnson, although I’m sure the owners were good business people and paid their taxes on-time. Still, times change, and maybe something bigger and better should be put in there.
By Steve Bailey, The Boston Globe
The Boston Red Sox have launched a partnership to build a 200-room hotel and 160 condominiums at the foot of historic Fenway Park, according to an executive who helped negotiate the agreement.
The Red Sox have signed a letter of intent with the Sage family for a joint venture to tear down the family’s aging 94-room Howard Johnson’s motor lodge on Boylston Street and replace it with a hotel twice its size and market-rate condos, the executive said. The executive put the project’s cost at about $140 million.
Spokesmen for the Red Sox and Sage family declined to comment yesterday.
The agreement reflects the Red Sox’s strategy to control as much of the surrounding neighborhood as possible now that the team has committed to stay in Fenway, Major League Baseball’s smallest park.
Complete article: Sox deal seen to build hotel near Fenway