Overview
- Outgoing Mayor Carlo DeMaria signed a memorandum with Wynn Resorts hours before Robert Van Campen’s swearing-in, setting a framework for new development near Encore Boston Harbor.
- The agreement clears up to two non-gaming hotels on 4.6 acres across Broadway from the casino, with the concepts lacking a designated developer or brand.
- Wynn committed up to $25 million toward a full-service commuter rail station adjacent to the site if the hotel projects advance, a sum that reports note may not cover full construction costs.
- The memorandum outlines additional infrastructure contributions tied to the hotel build-out, including funding for a pedestrian bridge over Broadway and related improvements totaling about $30 million.
- City estimates project up to 800 new rooms and as much as $10 million a year in tax revenue, while the incoming mayor has not yet weighed in and nearby plans for a Revolution stadium continue under separate agreements.