Mass. DOT Approves Lease For $500M Fenway Center

Law360, New York (June 20, 2013, 4:01 PM EDT) -- The Massachusetts Department of Transportation on Thursday approved a lease for the planned $500 million Fenway Center, removing the final hurdle for developer John Rosenthal to erect the giant mixed-use property near Fenway Park.

The department granted the lease application by Rosenthal, which will give the state $226 million in rent for a 99-year lease of the 4.5 acres of state-owned land and accompanying air rights. The vote had been delayed in May after the transportation agency unexpectedly tabled the application.

The administration of Massachusetts Gov. Deval...
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