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Council approves deed execution for Murray Franklin development site
Summary
The council approved Ordinance 25-14 authorizing execution of a deed for a city-owned parcel at Murray Avenue and Franklin Street to allow the Murray Franklin/Presswood development — a roughly $45 million, ~80-unit project that has secured state tax credits — to close on the property.
Anderson City Council — The Anderson City Council approved Ordinance 25-14 on second reading, authorizing the city to execute a deed for property at the corner of Murray Avenue and Franklin Street to enable the Murray Franklin development to close.
Mr. McKeown presented the item to council, saying the Murray Franklin project (identified in the transcript as a Presswood development) is "dollars 45,000,000" and about 80 apartment units. He said the developer had been under contract since December 2022, secured state tax credits, and had at one point requested an extension to the closing period; the developer has since notified the city that it is ready to close. Consultant Sarah Nieman was identified in the transcript as leading the process for the developer.
"So this before you allows us to execute the, the deed and to close on the property," Mr. McKeown said. The council briefly discussed the project, and after a motion and second the ordinance passed on a voice vote recorded as 'aye.' The transcript does not include a roll-call tally.
The item covers the authorization needed to transfer the city-owned parcel to the developer under the terms of the existing contract; council members noted the development has been under discussion for months and thanked staff. The transcript indicates the council moved forward with closing authorization; the record shows the council adjourned immediately after completing its agenda.
