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Commission recommends rezoning and revised development plan for Factory at Franklin, approves hotel, parking garage and surety bond change
Summary
Planning commission recommended approval of Ordinance 2024-51 and Resolution 2024-113 to allow a 120-room hotel and parking garage at the Factory at Franklin PUD and approved a modification to allow surety bonds in lieu of irrevocable letters of credit.
The Franklin Municipal Planning Commission recommended approval of Ordinance 2024-51 to revise entitlements for the Factory at Franklin PUD and approved Resolution 2024-113, a revised development plan adding a 120-room hotel and a multilevel parking garage on the roughly 20-acre site at 230 Franklin Road.
Staff said the rezoning and development plan reduce the previously established residential density, lower nonresidential square footage allowances in some respects and add the hotel use. The site is within the Factory design concept of Envision Franklin; staff said the hotel is supported if it is carefully designed to complement the historic factory buildings and noted the applicant received a preliminary certificate of appropriateness from the Historic Zoning Commission for the scale and location of the hotel.
Greg Gamble, representing Holiday Properties, presented the project design: a hotel stepped back behind the factory facade, a three-level garage providing roughly 250 stalls, reconstruction of an existing stormwater basin into underground detention beneath the new parking, and a new signalized entrance at Daniels Drive to create a four-way intersection. Gamble said pedestrian paseos will preserve access across the site, the garage will be designed to resonate with the factory's industrial character, and initial phasing will prioritize creation of parking (Phase 1a/1b) before hotel construction (Phase 2).
Staff presented and the commission separately considered a modification of standards (MOS) to allow a surety bond in lieu of an irrevocable standby letter of credit for required development sureties. Planning staff explained they researched surety bonds, consulted with insurers and city counsel templates, and believe bonds can provide non-expiring protection and defined parameters for calling funds if work is incomplete. Staff said they will pursue a zoning ordinance amendment to codify the option going forward.
Commissioners voted to recommend approval of the rezoning and development plan to the Board of Mayor and Aldermen and voted in favor of the MOS to allow a surety bond. The roll call for the development plan and MOS recorded ayes from Commissioners Allen, Franks, Lindsey, Mann, McLemore, Orr, Alderman Peterson and Williamson. The motions passed.
Staff said the developer will return with site plans and that the surety option will be brought to the commission and the Board as a potential zoning ordinance amendment.
