Kraft Group, Boston and Everett reach deal for future Revolution stadium

The Kraft Group has reached agreements with Everett and Boston on the proposed Everett Stadium project.

The terms of the project will transform the industrial site along the Mystic River into a publicly accessible facility and will be the future home of the New England Revolution.

According to Boston Mayor Michelle Wu, the $48M agreement will be paid out over the next 15 years.

In a statement, Everett Mayor Carlo DeMaria said, “I have always known that the residents of Everett deserve more than the inequitable burden of smokestacks and contaminated former industrial land that we have been asked to bear for too long. My vision for Everett has been for our city to have a vibrant waterfront with access for our residents, new clean industries that bring our residents construction and long-term job opportunities, improved public transit options, and new revenue sources to support city services.”

The agreement also means significant work will be done to demolish the powerplant, invest in traffic and transportation improvements, and offer community benefits.

According to the Kraft Group, the project will also open the waterfront by creating a new public park, strengthen pedestrian and bicycle connectivity, and enhance access to public transit.