CABOT, CABOT, AND FORBES, PEAK CAMPUS AND BLUE VISTA BREAK GROUND IN BOSTON
Sep 26, 2018
Atlanta, Georgia – Cabot, Cabot, and Forbes, Peak Campus, and their investment partner, Blue Vista Capital Management, have broken ground on a 555-unit apartment community on a twelve-acre site in Boston’s Brighton neighborhood after a multi-year entitlement process. The project will target Boston area young professionals, graduate students and employees of the surrounding medical, educational, and research communities with a unique offering that includes best-in-class new construction and redevelopment of the St. Gabriel’s Church and Monastery.
The project will offer efficient studio, one, two, and three-bedroom unit plans with modern finishes and optional furnishings. The St. Gabriel’s Church, which sits in the center of the site, will be repurposed into a nearly 22,000 square feet state-of-the-art amenity space. The Monastery will be repurposed into 27 apartments and a three-acre Olmsted streetscape will be rehabilitated and replanted. With its central location and dynamic views of downtown, the project will be like no other in the Boston market.
“This is an exciting project that seeks to fill an enormous gap in the Boston housing market while also preserving a legacy of buildings and parks that date back to the early 1900s. The project has benefited enormously from the support and encouragement of Mayor Walsh, the neighborhood and many City of Boston Agencies. It has been a terrific experience for us to work in partnership with Peak Campus and Blue Vista Capital Management.” from Jay Doherty, Chief Executive Officer, Cabot, Cabot, and Forbes.
“This project combines the experiences of a very capable Boston-based developer and a national student housing developer and manager to provide an unparalleled offering to the Boston market.” Jeff Githens, President of Development, Peak Campus.
Jason Schwartz, Head of Student Housing at Blue Vista Capital Management, commented, “Blue Vista is thrilled to embark on this project with Cabot, Cabot & Forbes and Peak Campus. The development effort on this project was truly a partnership amongst world class firms that worked in unison to gain the support of the community and Mayor Walsh. In revitalizing a historic building and the surrounding area, we believe that we can create an urban living experience with a breadth of amenity offerings that is truly unique. We look forward to seeing this exceptional project come to life.”
The project will deliver its first residential units and amenities in Fall 2019 with its final phase to deliver in Fall 2020.
Peak Campus, operating through a group of affiliated companies, is an institutional-grade property management and development company based in Atlanta, Georgia, focused exclusively on the student housing industry. The companies' experienced professionals offer an unmatched ability to execute on strategies consistent with the goals and long-term investment strategies of its partners. The Companies have developed over 15,000 beds of purpose-built student housing, and currently manage nearly 48,000 beds, with a combined valuation of more than $3.5 billion for investors nationwide, making them the second largest private operator in the United States. For more information about Peak Campus and its affiliates' full array of real estate solutions, please visit www.PeakCampus.com.