Boston — Cabot, Cabot, and Forbes and Peak Campus, in conjunction with investment partner Blue Vista Capital Management LLC, have announced plans to develop a 12-acre site in Boston’s Brighton neighborhood.
The project will include the redevelopment of the St. Gabriel Monastery — located on the site — and the construction of 600 to 700 apartment units to serve Boston-area graduate students.
“The growth in the graduate student population in Boston over the last few decades has been significant," says Jay Doherty, CEO of Cabot, Cabot, and Forbes. "Yet, to date, no new product has been built, forcing students to squeeze into Boston’s existing housing stock. By partnering with Peak, one of the nation's largest student housing developers and managers, as well as Blue Vista Capital Management LLC, a leader in student housing investment, we can combine our collective advantages to cater to this need. We believe this project will help serve the growing market demand and aligns well with Mayor Walsh’s housing goals for the city.”
“This project combines the experience of a very capable Boston-based developer and a national student housing development and management platform to serve a large unmet demand for Boston graduate student apartments,” says Jeff Githens, president of development at Peak Campus.