Samuels Set to Acquire 400-Unit Boston Development Site
Development of a 28-story apartment tower in the Fenway is back in play thanks to the neighborhood’s most active residential developer.
Development of a 28-story apartment tower in the Fenway is back in play thanks to the neighborhood’s most active residential developer.
British developer Scape entered the Boston market with dreams of “solving” Boston’s housing crisis with 2,000 units of student housing. Now they’re dust in the wind.
A lender scheduled a foreclosure auction in August for a Fenway property that received approval in January for a 28-story apartment tower.
City officials hoped developers would build more units per acre and pass along the savings to residents. It hasn’t turned out that way, and it’s an open question whether the pilot that permitted around 2,000 units in three years will come back.
Developer Scape said it’s next project in the Fenway will include 400 apartments in a 285,000-square-foot building at 2 Charlesgate West.
As the Fenway, Chinatown and South End continue to face gentrification and housing displacement pressures, contributions from four private developers could deliver more than 700 new income-restricted housing units in coming years.
Developer Scape’s revised plans for the Fenway neighborhood call for three residential towers containing 1,357 units, including a 220-unit affordable housing tower at 2 Charlesgate West.