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Franklin considering a discount price for property

Posted by Martin Finucane March 7, 2007 05:09 PM


Town Council is expected to consider lowering the price of the 34-acre Pond Street parcel it has tried to sell for development several times.

Last month, a $4 million deal with Woburn-based Maggiore Cos. fell through when the developer said his plan for condominiums, a hotel, and offices was not feasible because the land had been filled in with stumps and waste soil by the town over several decades.

The property also contained more wetland than previously thought, company principal Paul Maggiore said. Franklin returned the developer's $485,000 deposit.

The Town Council meeting is set for 7 p.m. in town hall, 355 E. Central Street.

-- Alison O'Leary Murray

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