FRAMINGHAM – The Framingham Planning Board unanimously voted to approve 75 more apartments for downtown Framingham Thursday night, January 25.
VTT Management Chief Executive Officer Vaios Theodorakos was requesting approval to demolish the Crouch Building to build a 6-story mixed use apartment complex at the corner of Union Avenue and Prospect Street.
The project would be adjacent to the Wilsonia Building at 46 Union Avenue, which has Panza Shoes on the first floor and apartments above the commercial businesses.
The Planning Board approved the new apartment complex, which would have about 4,000 square feet of commercial space on the first floor and 75 residential units on floors two through six. The project has 49 1-bedroom and 26 2-bedroom units.
Theodorakos also sought a waiver on parking as the new project allocates only 40 parking spaces. The Planning Board granted the waiver unanimously 4-0. Theodorakos said tenants could park their vehicles at other properties he owns in downtown Framingham.
Earlier this week, the Bancroft Building, which used to be the home to Fountain Street artists, has been sold for $3.75 million. The new owner 59 Fountain Framingham Owner LLC is proposing 250 apartments.
And in May 2017, Framingham Town Meeting approved an $8.7 million tax incentive for two developers for 467 apartments for downtown.
The four projects – in total – will add more than 1,000 new apartments in the 01702 zip code, most centered in downtown Framingham.