Things are looking up at Fenway Park

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Things are looking up at Fenway Park.

The team? Not really. They have made some significant additions and lost one key ingredient of past success, Jon Lester, and are still in the process of attempting a revitalization of the ball club, but another revitalization continues around the park itself.

When the current ownership took control there was no interest on the park of the city or the state to provide the support for a new Fenway Park. Too their credit the ownership invested in Fenway with a significant – in the vicinity of 200M – for improvements. The improvements continue with each off season.

The Red Sox have also benefited from 55M in infrastructure in the Fenway area, historical tax credits, fast track on permitting and a steadily improving relationship within the Fenway neighborhood. The Red Sox have also been buyers in the booming real estate in the area – boom for which they could be considered prime movers.

The area from the Fenway Triangle to Kenmore Square is now being home to several high rises. If you attend a game you can see the skeletal work of the buildings in the vicinity such as the 17 floors of Boylston West which joins a sister development at 1330 Boylston that overlooks Fenway. On nearby Brookline Avenue is the luxury Trilogy that will give a view of Fenway for the right price.

Viridian has an 18 – story tower going up at 1282 Boylston Street and is nearing completion. For those of you who want the ultimate view of Fenway you will have to wait a few season and be a half-mile away. It may be worth the wait as the 60 -story Back Bay Tower moves from proposal stage to development. This project may be the destination of choice for the higher paid Red Sox players as the leave the ultra plush Ritz-Carlton at Boston Common.

The area around Fenway is quite fluid for development. Many projects are currently in the permitting process, are being proposed, have been completed or are in the construction stages.

Now just how does this impact the Red Sox ability to do business?

Just a decade ago the Red Sox could not afford Alex Rodriguez. Since then they have built a real estate empire in the Fenway area, have expanded on their success by branding the Red Sox with just about every business imaginable, bought into NASCAR and English football and spent enormous amounts of money on free agents. The ownership success off the field has meant investment in product and for Red Sox fans that means a willingness for the ownership to spend.