Franklin extends Madison PUD vesting rights to March 2029

The Franklin Board of Mayor and Aldermen unanimously approved a resolution on Feb. 10 to extend the vesting rights for the Madison PUD subdivision by 36 months, moving the vesting expiration to March 10, 2029.

City planning staff explained the extension would allow the applicant and developer time to secure necessary permits and begin site preparation. The plan previously approved by the board would demolish one existing building and construct three new buildings, increasing the overall unit count on the site to 254, staff said. A site plan was approved in December 2023, but staff noted no building permits have been secured.

Staff advised that if vesting were to lapse and the developer submitted a new plan, that plan would be required to comply with current development standards. That could include frontage requirements, internal drive configurations and changes to parking layouts; staff said such changes could affect achievable density. During discussion, board members asked about buffers, landscaping and the approved emergency-access-only connection to Brink Place. The applicant, John Grady Wheldon, said market conditions and financing challenges delayed construction since the property purchase in 2021.

The board voted to approve the vesting extension by voice vote. Staff recommended and the planning commission had recommended approval, contingent on continued resolution of stormwater and compliance with current BMP manual requirements when permits are requested.