Red Sox owners, partners plan major redevelopment around Fenway Park

Five-acre project would include offices, apartments, retail stores, and possibly a hotel

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The owners of the Red Sox are moving into the real estate development business, partnering with a prominent developer in an ambitious, long-term venture that would transform the neighborhood just outside the walls of Fenway Park.

The five-acre project would feature office space, apartment buildings, retail stores, and possibly a hotel, along with public art and green space. It would be built on four sites along Jersey, Lansdowne, and Van Ness streets, as well as Brookline Avenue.

The parcels are owned by Fenway Sports Group Real Estate — a subsidiary of the Red Sox’s parent company, Fenway Sports Group — and the D’Angelo family, owners of the sports apparel company ’47 Brand.