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Report: Apex Property Price Might be Too High for PawSox

Pawtucket Red Sox

The asking price for one of the locations under consideration for a new Pawtucket Red Sox (Class AAA; International League) ballpark is too high, according to a report. 

One of the properties that has been eyed by the PawSox for a new facility is that of an Apex department store in Pawtucket. While it is among the sites that are under consideration for a new ballpark, Andrew Gates–the owner of parcel–is reportedly seeking more than $20 million, according to The Valley Breeze, which reports that that figure might be beyond what the PawSox are willing to spend.

Among the benefits that have been touted are that the parcel offers solid visibility from Interstate 95, and that it could be incorporated into downtown development. In response to reports on the asking price, representatives from the parties involved in the negotiations declined to comment on the specifics of their discussions. More from The Valley Breeze:

PawSox team officials this week declined to comment on their negotiations with Gates and his team, or to say what their next option might be. They have repeatedly stated that they’re committed to Pawtucket as a long-term home for the franchise.

Apex owners weren’t confirming the reported asking price.

“Apex Development Company has had numerous conversations with the Pawtucket Red Sox ownership group about the use of a portion of our property near downtown as a potential location for the team’s new ballpark,” said the company in an emailed statement. “The Apex Companies, founded in Rhode Island in 1924 and as members of the Pawtucket community since the 1930s, are pleased the Pawtucket Red Sox are focused on staying in Pawtucket. As these conversations are ongoing, we cannot comment further at this time.”

The site of the Apex Department Store, with its iconic tiered roof visible to drivers passing on I-95, is valued at $4.3 million in the city’s property tax database. Adjoining properties owned by Gates and his affiliated companies, which would all likely be included in any sort of stadium proposal, total an additional combined value of more than $1 million.

The PawSox are looking for a long-term ballpark solution, as the team currently plays at McCoy Stadium–which originally opened in 1942, and received its last major renovation in 1999. A study from Pendulum released in January raised doubts that a new or renovated facility on the McCoy Stadium site would be a viable investment, with a renovation estimated at $68 million and a new ballpark projected to cost $78 million. The team has reportedly been considering locations other than the Apex site, including the Tidewater site along the Seekonk River.

RELATED STORIES: Pawtucket Mayor Hopes PawSox Make Ballpark Decision this SeasonZoning Could Allow for PawSox Ballpark at Apex SitePawSox Focusing on Pawtucket in Ballpark SearchStudy: McCoy Stadium Site Not Feasible for PawSox; PawSox Considering Apex Site for New BallparkPrevious Study: $65M for McCoy Stadium UpgradesPendulum to Determine McCoy Stadium’s FuturePawSox Still Pondering FutureFour Firms Bidding on McCoy Stadium StudyFeasability Study Set for McCoy Stadium; PawSox to Begin McCoy Stadium Study; Lucchino: All Options for Future Pawsox Ballpark on Table

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