The street has beared Yawkey's name since 1976, when the team owner and industrialist passed away.
The vote was spurred by a petition from The Red Sox, along with business owners on Yawkey Way filed in February.
A Boston city commission voted unanimously on Thursday to change the name of Yawkey Way, fulfilling the request of the Red Sox owners who pushed to rename the street in front of Fenway Park.
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Yawkey Way is the street Fenway Park is on.
Yawkey's supporters opposed the change, saying the foundation named for him has provided millions of dollars in charitable contributions that have benefited all city residents.
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The Red Sox filed a petition with the commission in February and said that restoring the Jersey Street name is meant to reinforce that Fenway Park is "inclusive and welcoming to all". The Red Sox were the last Major League Baseball franchise to field a black player, when infielder Pumpsie Green was called up in 1959, 12 years after Jackie Robinson played for the Dodgers.
"The Red Sox Foundation and other organizations the Sox created such as Home Base have accomplished a lot over the last 15 years, but I am still haunted by what went on here a long time before we arrived".
Say goodbye to Yawkey Way.
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Massachusetts Rep. Russell Holmes, who spoke in favor of the petition at the hearing and was the only person to testify Thursday, said he believes the City's decision to rename Yawkey Way was a courageous demonstration of progress in a time of critical change on behalf of the Red Sox and Mayor Martin Walsh.