Do the Red Sox help our real estate market?


DSC00804U.S. News

recently looked into this phenomena
and found that such flourishing and successful relationships
between sports and suburbs are few and far between. In a survey of
2,000 people across America, only 17.8 percent of respondents rated
professional sports of significant importance to them in their
hometown. And yet, Bostons Fenway neighborhood
has home values that are 66.3 percent higher than the metro
average.

A local leasing manager who
interviewed for the piece, attributes this above-average
proliferation to the unique energy the stadium brings to its
surrounding neighborhood.

It adds an element of excitement
because theres more foot traffic–a lot more people. During that
time of year theres a lot more action going on…The people that go
to live there expect that, he said.

Fenway Park opened in 1912–104
years ago–and remains the greatest, most culturally rich stadium
of all time. It blessed the Red Sox with a 7-6 win over the Yankees
for its very first game, and has seen incredible magic happen
within its stands ever since.

In the last few years the
Fenway-Kenmore
neighborhood
has seen an incredible revitalization in the form
of both booming commercial and residential development. In
2015,

The New York Times

took notice of these changes and
wrote up an in-depth report on the area, citing developments such
as
City Target, Fenway
Triangle Trilogy
, and the
upcoming renovation of
Landmark Center to come this year.

Jonathan Greely, director of
development and review for the Boston Redevelopment Authority, has
been closely involved with the latest renovations to the
neighborhood. He believes it is truly an 18 hours a day, 365 days a
year place…and if someone says theyre going to the Fenway, it
doesnt mean theyre going to the Red Sox necessarily.

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