News Corp. may team up with local developer on South Boston waterfront
Local developer Stephen R. Karp said today that he has been approached by News Corp. about a possible deal to buy some of the roughly 23 acres of South Boston waterfront it recently purchased from Los Angeles Dodgers owner Frank H. McCourt Jr.
With New York developer Related Cos. LP as a partner, Karp said he'd be interested in exploring a bid.
Earlier this month, consultants for News Corp. said the media company is willing to sell half or more of the prized location as a way to attract a development partner.
Today the land is mostly parking lots, but Karp said it would be ideal for a mixed-use project that includes a big retail component; a shopping area anchored by a department store like Nordstom is vital to draw people to the area, Karp said.
If many retailers open stores in the area, their presence could help jump-start the long-stalled vision for transforming the South Boston waterfront into a lively part of the city.
"Retail is the catalyst," said Karp, who has a long track record in developing successful shopping malls such as CambridgeSide Galleria.
News Corp. and Related could not be reached immediately for comment.
(By Chris Reidy, Globe staff)
