Baseball Team Making Pitch For Another Site in Fenway
Red Sox Eye Parking Garage on Lansdowne Street, Plan to Build Facility Featuring First-Floor Retail
By Thomas Grillo
Reporter
B&T staff photo by Thomas Grillo
The Boston Red Sox plan to purchase this parking garage
at 49-67 Lansdowne St. in Boston.
The Boston Red Sox want to add another property to their lineup around Fenway Park.
Michael Dee, chief operating officer for the Boston Red Sox, told Banker & Tradesman that the ballclub intends to purchase the parking garage behind the park at 49-67 Lansdowne St. in Boston. When the team secures the 2-story concrete building, Dee said the Red Sox would raze the facility and replace it with one of about the same size, which would feature first-floor retail.
?We don?t want to go into the details of that deal,? said Dee. ?What?s important to us is securing the garage and preserving the view over and above the garage looking toward the Green Monster and the Citgo sign. It would be a shame to just have a garage there. We envision something that has a caf?.?
The Red Sox ownership quietly has been buying property around the park since a consortium headed by John Henry bought the team in 2002 for $660 million. So far the team, under the name of New England Sports Ventures, has purchased the former Sophia?s Latin Bar and Restaurant at 1270 Boylston St., 160-170 Ipswich St., the Town Taxi garages at 154-156 Ipswich St., radio station WBCN?s former headquarters at 1265 Boylston St. and a McDonald?s restaurant at 1282 Boylston St.
Janet Marie Smith, the architect who handles real estate deals for the Red Sox, said the parking garage with retail could continue the transformation of Lansdowne Street into a 24-hour attraction.
?We?ve talked to [parking garage owner] John Rosenthal about a desire to make the garage a part of what we see is the future of Lansdowne Street,? Smith said. ?To date, that includes what we?ve done with Game On! and the Bleacher Bar to be built under the center field bleachers. More restaurants and retail along the street will make Lansdowne a more family-friendly, year-round, daylong activity environment. It?s part of our ongoing thematic pursuit in the area.?
The parking garage is assessed at $4.1 million. Rosenthal bought it in 1993 for $2.5 million.
Rosenthal is the developer of the proposed One Kenmore mega-project to be built over the Massachusetts Turnpike in Kenmore Square. Under his plan, the 1.2 million-square-foot development would be built above the turnpike and on several adjacent parcels. The project will include 353 apartments, 1,344 parking spaces, and 300,000 square feet of retail and offices in three buildings with seven, 13 and 17 floors. A 6-story garage would be wrapped around one of the buildings.
Rosenthal declined to comment on negotiations with the Red Sox over purchase of his parking garage.
?The New Buzzword?
William Richardson, president of the Fenway Civic Association, said he is unaware that the Sox planned to buy the parking lot. But his group is concerned about any increase in parking in the neighborhood.
?The neighborhood, the city and the Red Sox need to have serious discussions about what the team needs for parking and what?s currently available,? he said. ?The team may not own all the lots in the neighborhood but they are still available for their customers. The streets are already congested and adding parking spaces will force more people to drive to the park. That?s unacceptable.?
Dee declined to provide specifics about how much parking the team wants or where any new parking would be built.
While the Red Sox have not been shy about buying up real estate around Fenway Park, the details of what they have paid remains a closely guarded secret. Typically, when real estate is sold in Massachusetts, a deed is recorded at the appropiate state or country registry of deeds. The deed is a public document that transfers ownership of real estate. It contains the names of the old and new owners, purchase price and a description of the property.
The Sox deals are shrouded in secrecy because they paid more than the nominal amount listed on the deed. For example, public records say the team paid a dollar for the McDonald?s property in 2005, but the restaurant has an assessed value of $2.7 million. In the case of the Town Taxi buildings, the privately held Red Sox organization purchased the corporation that owns the buildings, 160 Ipswich Inc. As a result, the transaction did not require any public disclosure. The assessed value of the properties is $1.1 million, according to the city?s Assessing Department.
Also in 2005, the Red Sox, under the names of 1270 Boylston Street Realty Trust and New England Sports Ventures Real Estate, paid another dollar for the former Sophia?s Latin Bar and Restaurant, an 8,370-square-foot dance club that has an assessed value of $1.46 million. NESV and the 1265 Boylston Street Realty Trust purchased 1265 Boylston St. for a mere $10. The 16,000-square-foot building is assessed at $1.8 million.
The purchases were well-timed. Last year, the state Legislature approved $55 million in infrastructure improvements around Fenway Park that officials say will benefit the Red Sox, Kenmore Square and the Longwood Medical Area.
Among the plans for the money include planning, design and construction to upgrade the MBTA?s Yawkey, Kenmore, Fenway, Longwood and Ruggles stations. Roadway improvements will be made to the Sears Rotary; Ipswich, Maitland and Francis streets; Brigham Circle; and Yawkey Way. In addition, new traffic signals will be installed on Brookline and Commonwealth avenues; Boylston, Beacon and Ruggles streets; and Melnea Cass Boulevard.
Dee said the improvements will go a long way toward making the area around Fenway Park a 365-day-a-year experience.
?The real estate equivalent to OBP [on-base percentage] is ?lifestyle center,?? he said. ?That?s the new buzzword and our goal is to create a lifestyle neighborhood that is not necessarily laden with high-rise buildings, but one that brings charm to the area the way Newbury Street complements the Back Bay. That?s a big priority for us.?