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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.