Image courtesy of Utile

A lender scheduled a foreclosure auction in August for a Fenway property that received approval in January for a 28-story apartment tower.

British student housing developer Scape acquired the 2 and 6 Charlesgate West and 1161 Boylston St. site in 2019 for $39 million.

The acquisition was financed with a $30 million mortgage from New York-based Mack Real Estate Credit Strategies, according to Suffolk County Registry of Deeds records.

Paul E. Saperstein Co. scheduled a foreclosure auction for noon on Aug. 12.

In 2021, Scape submitted a proposal for a 285,000 residential building on the cluster of parcels between the Massachusetts Turnpike and Back Bay Fens.

The project received final approval from the Boston Zoning Board of Appeals in January for a 400 unit, 299,000 square-foot apartment building. Developers agreed to a $3.2 million community benefits package including a $500,000 payment to the Boston Parks & Recreation department and $300,000 to Fenway Community Development Corp.

In 2022, Scape completed its first local project at 1152 Boylston St. in the Fenway, a 451-unit apartment building known as The Bon.

The 2 Charlesgate development was proposed by Morro, an apartment specialist co-founded by Nigel Taee, chairman and founder of Scape. The nearly half-acre site contains a 56,000 square-foot vacant office building, according to the auction notice.

Scape declined to comment.

Lender Schedules Auction for Fenway Development Site

by Steve Adams time to read: 1 min
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