Bancroft Building Sold For $3.75 Million; 250+ Apartments Planned

FRAMINGHAM – The Bancroft Building, which used to be the home to Fountain Street artists, has been sold for $3.75 million.

The sale to 59 Fountain Framingham Owner LLC closed on January 22.

Bancroft Building, a mill building on a Framingham site slated for 258 units of housing, has sold for $3.75 million.

The new owners have proposed 258 residential apartments on the site.

The 3 acre site is assessed at $2.7 million.

The 250+ apartments would be the fourth proposed set of apartments in the downtown area.

Town Meeting in May 2017 approved an $8.7 million tax incentive for two developers for 467 apartments for downtown.

And recently, the Planning Board recently approved 210 apartments for the vacant Mt. Wayte plaza.

The Bancroft Building was built in 1905.

Tenants in the building were told to vacate by January 31, per a notice on the front door.

Framingham Source Editor Susan Petroni

Susan Petroni Framingham Source Editor Email: editor@FraminghamSource.com Phone: 508-315-7176

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