In March, construction began on Franklin Ridge, a 60-apartment development aimed at allowing local seniors (age 62 and older) to downsize from larger homes and remain in town affordably, while freeing up housing for younger families seeking to call Franklin home.
Over the past 11 years, the project has overcome a series of “curve balls,” including the COVID pandemic, financing challenges, inflation, and rising costs triggered by tariffs, said Franklin Town Administrator Jamie Hellen. Partnering with a local affordable housing developer, JNJUHL and Associates, the town hopes that the apartments will be finished by late 2027.
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Located on 6.5 acres near shops and town amenities, the three-story complex will have 54 one-bedroom rental apartments, and six two-bedroom units. The development will include community spaces and an on-site social services coordinator, and will be 100% electric-powered and feature solar panels.
The apartments will be available to income-eligible residents — at 60% or below of the area median income. The rents will be calculated based on the renters’ income and the federal limits, developer Jon Juhl said. There will also be a 70% preference for local residents, the highest percentage allowed under state law.
The project received significant town buy-in over the past decade. The Franklin Municipal Affordable Housing Trust provided the land for the project, which also received $500,000 in seed money from the town and another $360,000 in Community Preservation Act funds. The project also received state and federal funding, including an $850,000 grant from the U.S. Department of Housing and Urban Development, and funding through the MassWorks Infrastructure Program.