Mayor Walsh is looking to offer some reprieve to the Fenway Center Project. Will this stimulus be enough for the $550 million project to get off the ground? The residential and commercial market are both very strong and seem to be poised to continue upward; the real concern is the cost of construction.
The BBJ offered some underlying details on the tax agreement:
“The proposed 121A tax agreement, first reported by the Boston Globe Monday, is intended to provide property tax relief in a designated “blighted” areas. The Rosenthal tax plan is expected to be on the Boston Redevelopment Authority agenda at its board meeting on Thursday. The state would also have to approve the arrangement.”
The full article is available on the Boston Business Journal’s website.