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The Boston Globe

North

Malden

Lease agreement opens way for baseball stadium

The Malden Redevelopment Authority , National Grid, and developer Alex Bok have reached agreement on the terms of a 40-year lease to build a $50 million minor league baseball stadium on the site of a former gas distribution facility on Commercial Street.

A letter of intent outlining key terms of the lease, such as rent payment to the authority, must be approved by the state attorney general’s office before a final lease is signed. “We’re cautiously optimistic the attorney general will approve the proposal,” said Stephen Wishoski, executive director of the authority.

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