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Committee approves conveyance ordinances to move Franklin Yards redevelopment forward; developer plans 67 apartments and ground-level retail
Summary
The committee approved two ordinances authorizing conveyances needed to assemble title for the Franklin Yards North and South projects; the developer team said the combined projects represent about $19.5 million in investment, 67 apartments (including rehabilitation of historic structures) and roughly 2,000 sq ft of retail facing a city park.
Committee members approved emergency ordinances authorizing acquisition and reconveyance of properties to create a chain of title for the Franklin Yards North and South redevelopment projects so developers can proceed with project financing and construction steps.
City officials described the Franklin Yards project as a two-part initiative that will rehabilitate historic buildings and add new construction on a long-vacant parking lot on Franklin Boulevard. The city presentation said the developer team plans approximately $19.5 million in combined…
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