Kraft Group, Boston/Everett reach agreement for Revs stadium project

The New England Revolution's path towards its own stadium took a major step forward on Wednesday.

The Kraft Group announced it has reached agreements with the cities of Boston and Everett, Mass., significant progress towards the transformation of a "long-neglected industrial site along the Mystic River into a vibrant, publicly accessible waterfront destination" in Everett which has been pegged as the future site of the Revolution.

"These agreements reflect years of collaboration with city leaders and community stakeholders to ensure the project delivers meaningful, lasting benefits for residents while addressing transportation, environmental, and municipal impacts," the Kraft Group statement read. "We are especially grateful for Mayor Carlo DeMaria's leadership and vision. At its core, this is an investment in Everett and its future. In addition, it provides improved access and an enhanced neighborhood experience by removing a physical and visual barrier for the residents of Charlestown and we appreciate Mayor Michelle Wu and her team's partnership."

The agreement will see the Kraft Group pay the city of Boston a community benefits package of almost $48 million over the next 15 years

The Revolution currently practice and play at the New England Patriots' stadium in Foxborough, Mass. Both franchises are owned by Robert Kraft and the Kraft Group.

The new stadium project is set up to erect a 25,000-seat stadium in Everett on a site where an inactive power plant is currently located.

The specifics of the deal with Boston include an immediate $1.5 million community impact payment once the permit is issued plus annual payments of $300,000 for five years as well as 15 annual payments of $333,000 for ongoing transformation infrastructure improvements and at least $5 million in safety and access improvements to roadways, sidewalks, bike paths, intersections and transit facilities.

The city will also be paid $1 off each soccer ticket sold and 1.5% off all concert tickets sold at the venue in perpetuity, estimated at $34 million over the first 15 years.

No timeline for the stadium's completion and opening was shared in the Kraft Group statement, although a City of Everett FAQ indicates a four-year timeline from the start of demolition to stadium completion.

--Field Level Media