Alex Bok’s attempt to bring an independent Atlantic League ballpark to Malden, Mass., may land a 6.4-acre parcel next to an Orange Line train stop after bidding for the rights ends at noon today.
A National Grid gas operations facility is currently occupying the property. That plant is slated to move, freeing up the 6.4 acres for development.
As mentioned, bidding for the land will end today, according to the Boston Globe. Five potential investors expressed interest in the land, but three dropped out after concluding the challenges in turning around site would be too great. There’s also a complicated ownership arrangement: National Grid would continue to own the land and lease it to a city redevelopment authority, which would in turn sublease the land to a third party. Bok expects to spend $30 million on a new ballpark.
RELATED STORES: New ballpark pitched in Malden; Archives: Sept. 3-9, 2006; Archives: March 5-11, 2006
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