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Thursday, November 2, 2006

Franklin to sell 34 acres


The Franklin Town Council last night voted 6-3 to sell a 34-acre parcel between Pond Street and Interstate 495 to Woburn developer Maggiore Cos. for $4.7 million.

The town-owned property was the site of a former sewer bed, which council members saw as an opportunity for economic development.

In August, town officials decided to seek proposals from developers, and got three interested who all bid about $4 million. Maggiore will build condominiums, a restaurant, and hotel and office space on the site.

Town Administrator Jeffrey Nutting said they will also work out an agreement in the development contract that will ensure public access through the property to 400 acres of open federally-owned land nearby. The potential loss of access had concerned open space advocates.

-- Alison O'Leary Murray

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