Developer TeamRise paid around $20 million for the now-landmarked Franklin Apartments and two adjacent parcels back in 2014. At an October 25 meeting, the design review board will get a good look at the tower they and architects CallisonRTKL and Studio 19 have created to add at at 2302 Fourth Avenue.
The plan calls for the construction of a 24-story tower that will rise directly next to the three-story Franklin, which is currently empty. Referred to as Fourth & Bell Tower in the packet, the preferred option includes 287 residential units, 8,768 square feet of ground-floor retail space, and 204 below-grade parking spaces.
As for what the Franklin will be used for, that remains to be seen. The packet says that the roof of the 1918 building could become a “large outdoor amenity area” and that it may eventually contain apartments or condos, but nothing is specified.