{"id":5711,"date":"2024-11-21T14:54:08","date_gmt":"2024-11-21T14:54:08","guid":{"rendered":"https:\/\/www.sherin.com\/real-estate\/?p=5711"},"modified":"2024-11-21T15:02:48","modified_gmt":"2024-11-21T15:02:48","slug":"revs-clear-a-hurdle","status":"publish","type":"post","link":"https:\/\/www.sherin.com\/real-estate\/2024\/11\/21\/revs-clear-a-hurdle\/","title":{"rendered":"Revs Clear a Hurdle"},"content":{"rendered":"<p>The Massachusetts Legislature\u2019s failure to pass a major Economic Development bill by the end of the 2024 regular session appeared to foil \u00a0the Revs plan for a new stadium in Everett. As reviewed in our <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.sherin.com\/real-estate\/2024\/10\/14\/the-new-england-revs-stymied-by-designated-port-area-restrictions\/\">recent blog<\/a><\/span>, 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.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Massachusetts Legislature\u2019s failure to pass a major Economic Development bill by the end of the 2024 regular session appeared to foil \u00a0the 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 [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":5713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[122,117],"tags":[137,7,135,22,136],"class_list":["post-5711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-land-use","category-leasing","tag-boston-sports","tag-commercial-real-estate","tag-designated-port-area","tag-development","tag-new-england-revolution"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Revs Clear a Hurdle - Real Estate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sherin.com\/real-estate\/2024\/11\/21\/revs-clear-a-hurdle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revs Clear a Hurdle - Real Estate\" \/>\n<meta property=\"og:description\" content=\"The Massachusetts Legislature\u2019s failure to pass a major Economic Development bill by the end of the 2024 regular session appeared to foil \u00a0the 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. 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