Real Estate Blog

Revs Clear a Hurdle

11/21/2024 | by Wyatt Shea and John J. Slater III

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Real Estate Blog

Revs Clear a Hurdle

By Wyatt Shea and John J. Slater III on November 21, 2024

The Massachusetts Legislature’s failure to pass a major Economic Development bill by the end of the 2024 regular session appeared to foil  the Revs plan for a new stadium in Everett. As reviewed in our recent blog, the location proposed for a new stadium by the Kraft Group is in a Designated Port Area. DPAs are primarily intended to protect water dependent industrial uses, and a stadium does not qualify for inclusion in a DPA.

Fortunately for the Revs and the Kraft Group, owners of the Revs, the Legislature elected to return to formal session this Fall to take up its unfinished business. The Legislature recently passed a compromise Economic Development bill which included a provision removing the land proposed for the stadium from the DPA. To address concerns over traffic expressed by Boston Mayor Michelle Wu and community groups, the Kraft Group must negotiate community impact agreements with both Boston and Everett. The legislation provides for binding arbitration if the Kraft Group is unable to secure either of the impact agreements by the end of 2025.

Although a significant hurdle to a new stadium has been cleared, the Kraft Group must still obtain various environmental and zoning relief before any groundbreaking occurs.

Wyatt Shea – Real Estate Paralegal

Wyatt Shea is a paralegal in the firm’s Real Estate Department, working with attorneys and clients on complex commercial real estate transactions.

John J. Slater III – Partner

John J. Slater III is a partner in the firm’s Real Estate Department and Business Law Group.