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Policy: Budgets & Deficits

Boston mayor seeks tax breaks for Fenway project

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News,Business,Massachusetts,Budgets and Deficits,Boston,Boston Red Sox

BOSTON (AP) — Boston Mayor Martin Walsh is proposing a $4.6 million tax break to spark construction of a $550 million retail-residential development near Fenway Park that would straddle the Massachusetts Turnpike.

A vote on the financing is scheduled for Thursday at a Boston Redevelopment Authority board meeting.

Fenway Center has languished for years due to legal and permitting challenges. The developer has struggled to generate enough funding to move forward.

Walsh says construction would generate jobs and continue a city building boom.

The Boston Globe (http://b.globe.com/1hAEaNs ) reports that Fenway Center would result in construction of a total of 1.3 million square feet of residential and commercial space in five buildings between Brookline Avenue and Beacon Street. It would include 420 apartments, space for stores, restaurants and offices, and nearly 1,000 parking spaces.

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