Oops - the state is kicking in an additional $35 million, not the city. Here are the numbers from the Telegram
The first phase of the project include 450,000 square feet of development and more than $208.5 million in development based on construction costs. They include.
• $86 million for the ballpark.
• $32.5 million for infrastructure improvements to be funded by the state.
• $40 million for the construction of a 150-room hotel and a second boutique hotel that will consist of about 100-110 rooms overlooking the ballpark.
• $40 million for the construction of 225 market-rate apartments.
• $10 million for the development of 65,000 square feet of retail/restaurant space.
Second-phase development includes plans for 200,000 square feet of additional residential/office or mixed-use development, totaling 650,000 square feet for the entire project.
Mr. Augustus emphasized that the project, including construction of the ballpark, will be “self-supporting” and will not cost Worcester taxpayers any additional money.
He said the project has been structured in such a way that new taxes and other revenue sources it generates will be used to to pay for the ballpark.
“This project will pay for itself,” Mr. Augustus said. “No (municipal budget) revenues will have to be diverted to support this project. That was a fundamental principle to this project. The development costs and revenue streams identified are interconnected and codependent.”
http://www.telegram.com/news/20180817/pawtucket-red-sox-moving-to-worcester-kelley-square-to-get-makeover