BOSTON–Scape USA, a London-based global real estate owner, operator and developer that specializes in the private, academic accommodations sector, announced that it has secured its first US site in Boston’s Fenway neighborhood.
“Scape is thrilled to announce we have secured our first site in the U.S., at 1252-1268 Boylston Street in Boston’s Fenway neighborhood, and we look forward to working with all stakeholders, including the local community and the City,” said Scape USA CEO Andrew Flynn. “The location will serve as our U.S. flagship for innovative academic accommodations, which we have successfully pioneered in the U.K., Ireland and Australia, offering residents brilliant, safe and supportive accommodations in academic hubs where graduate and undergraduate students feel inspired and at home.”
Scape USA last month launched its U.S. headquarters in Boston, with plans to roll out its innovative concept locally and then nationwide. Over the past decade, Scape has transformed the private academic accommodations market and has emerged as a best-in-class, vertically-integrated international operator and a globally-recognized brand.
In each of its locations, Scape focuses on the power of ‘placemaking’ and endeavors to deliver an integrated onsite ‘ecosystem’ – this positive-feedback loop benefits all stakeholders, including the surrounding urban neighborhoods; this allows students to thrive and to participate in the neighborhoods in which they live in a positive way. Scape has deployed over $3 billion of capital and its portfolio currently consists of more than 12,500 beds – in operation or in development – in the United Kingdom, Ireland and Australia. Scape USA is targeting 20,000 beds nationwide and is prepared to invest $1 billion in Boston over the next five years.
Scape USA’s entry into Boston comes at a time when the city has identified the need for 69,000 units of housing, 16,000 new undergraduate beds and 3,000 graduate beds by 2030. Scape is solving a student housing problem in Boston where an immense off-campus student population is exerting enormous pressure on the supply-constrained housing market displacing workers and families and driving up rental costs.
Scape USA is headquartered in Boston and was formed in 2017 as the U.S. platform of Scape, a London-based global real estate developer, owner and operator which specializes in the private academic accommodations sector.