Major Union Avenue Project Appears Ready to Move Forward
“62 Bedrooms, 46 Apartments, $13.05 Million Mortgage: Major Union Avenue Project Appears Ready to Move Forward
A significant new housing development in downtown Framingham appears poised to begin construction after a $13,050,000 construction mortgage was recorded on June 1, 2026, for the properties at 173 and 179 Union Avenue. The mortgage was granted by 173 Union Ave LLC to Salem Five Cents Savings Bank, and specifically references a construction loan tied to the redevelopment project.
Plans previously approved for the site show a five-story mixed-use residential building containing 46 apartments with a total of 62 bedrooms on floors two through five. The project includes a mix of one- and two-bedroom units, ground-floor amenities, a coworking space, bicycle storage, and structured parking. Site plans show approximately 49 parking spaces, including accessible spaces, with the building occupying a prominent location near the intersection of Union Avenue, Beach Street, and Henry Street.
The newly recorded mortgage is one of the strongest indicators yet that the long-planned project is entering the construction phase. The mortgage documents specifically reference a construction loan agreement and the future improvements to be built on the property. While no formal groundbreaking announcement has been made, developers typically secure financing immediately before major site work begins. With financing now in place, residents may soon see activity at one of downtown Framingham's most visible redevelopment sites.
Project at a glance:

173–179 Union Avenue

Five-story residential building

46 apartments

62 bedrooms

Approximately 49 parking spaces

$13,050,000 construction mortgage

Financing provided by Salem Five Cents Savings Bank
After several years of planning and approvals, the paperwork now suggests the project is moving from the drawing board toward reality.”
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