Alexander Bok, Malden Redevelopment Authority and National Gas have worked out terms of a 40-year lease for a 6.4-acre site in downtown Malden, which will be the site of a new independent Atlantic League ballpark.
The site was formerly a former gas distribution facility owned and operated by National Gas.
The authority will technically lease the land and then sublease it to Bok’s company, Boston Baseball Field of Dreams LLC. The lease also gives National Gas first crack at naming rights for the ballpark.
Other government agencies must sign off on the deal, but no opposition is expected.
It’s up for debate whether the 6,372-seat ballpark will open in 2014 or 2015. As part of the deal National Gas will clean up the brownfield site, and Bok still needs to come to an agreement for other land parcels that will comprise the ballpark site. Given that we’re near the end of 2012 and we don’t have a finalized lease, much less any cleanup, it’s hard to see that a 2014 opening is possible.
RELATED STORES: Lease issues delay Malden ballpark planning; Parcels eyed for new Malden ballpark; Malden ballpark plan on path for preliminary approval; New ballpark pitched in Malden; Archives: Sept. 3-9, 2006; Archives: March 5-11, 2006
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