Economics
City Betting on Red Sox Boon Sees Stadium Plan Stall on Lockdown
- Worcester planned hotels, apartments, shops around new stadium
- Debt was sold for project, but developer stopping for a year
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The ambitious downtown project promises to herald Worcester, Massachusetts’s transformation from a once-dilapidated mill town and give it a piece of the Boston Red Sox, the beloved baseball team from 50 miles away.
There’s set to be a 10,000-seat stadium for the team’s Triple-A minor league affiliate, two hotels, more than three hundred apartments, and space for offices, restaurants and shops. The money it’s forecast to generate, as well as lease payments from the team, would be plentiful enough to repay more than $100 million bonds the city agreed to back to finance it.