EVERETT, Mass. (WBZ News Radio) – The Kraft Group and the City of Boston have struck a deal over community benefits the city will receive when a new soccer stadium is built across the river from Charlestown.
The City of Boston will get nearly $48 million over the next 15 years. This is because Boston Mayor Michelle Wu argues that those living in Charlestown will have to face traffic and congestion once the 25,000-person stadium is built. A similar deal, negotiated by former Mayor Marty Walsh, was reached in 2016 between the city and Wynn Resorts over the construction of the Encore Boston Harbor casino in Everett.
"The City fought for a fair deal for Boston and our residents, and that is what we have achieved through this agreement,” said Mayor Michelle Wu in a statement. “This stadium will enhance Boston’s position as the sports and entertainment capital of New England while transforming a blighted site on our doorstep.”
This final agreement includes $13 million in direct payments and a new, permanent per-ticket revenue source for Boston, which is expected to total $34 million in the first 15 years. A long way from the Kraft Group’s initial offer of $750,000 in a onetime payment for mitigation funds for the city.
According to the Kraft Group, they reached agreements with Boston and Everett to move the project forward amid a looming New Year's Eve deadline.
The deal will include the major undertaking of demolishing the long-vacant power plant that will require environmental remediation. It also will include a major investment into Everett Public Schools and a waterfront park that will be open to the public.
A statement from the Kraft Group reads in part:
"These agreements demonstrate the power of public‑private partnership to deliver transformational outcomes. We look forward to continued collaboration with Everett, Boston, and the community as the project advances through local and state review and as we take the many next steps necessary to bring this vision to life.”
Even with the deal, it is expected to take years for the stadium to open.