FAQ's

Where is it?

The new 131 Building will be only a half block from the round-about on Main Street. We'll be tearing down a non-contributing property that was built in the 60's.

What does it cost?

Each finished suite will cost approximately $500 per square foot of usable space. In other words, if you have 1,000 feet it will cost you $500,000 completely finished.

Is that high for the area?

Great question. First, office space is very limited in downtown Franklin. Also, the market has already established several small-space condo offices in the $600 per sq. ft. range. Plus, the corner house across the street of the new development was sold in one day for $500 per sq. ft. and still needs extensive remodeling.

What makes it worth so much?

What’s that old real estate adage? Location, location, location. This location is expensive and the quality of the construction is like the Brownstones.

Plus, many business owners realize the productivity gain from allowing employees to work in the environment of Downtown Franklin versus a cold, corporate environment. People already working down here love walking to breakfast, lunch or dinner, riding bikes in the countless acres of city parks, and the general low-stress atmosphere. And, more greenspace developments are already underway.

What building amenities can I expect for this kind of price?

The project is being built in the tradition and expectation of the Brownstone Development just two blocks away. The first 5 buyers will be able to custom design their space with our architect to insure that they get exactly the office design that works best for their company.

General amenities:

  • 10ft. ceilings
  • Wood burning Fireplace in many larger suites
  • Hardwood floors for the whole building
  • Private bathrooms and showers with tile for larger suites
  • Historically accurate 8ft tall doors made of solid hardwood
  • Technology ready for phone/Internet/cable
  • Private balconies
  • Climate control specific to each suite
  • Private back terrace for outside meetings or just your personal enjoyment
  • Exercise room with treadmills, elliptical machines and a flat-screen TV

What about parking?

For each thousand square feet of space you purchase in the building, you will get to purchase one parking space in the underground parking garage for $19,000. Additional employee parking can be leased for $75 per space per month in a lot directly across the street and even more parking is available for free near the building on the street. The parking lot under the building will be accessed from the easement/driveway of Bridge Street in the back of the existing building. A garage door will keep the spaces private and safe from intruders.

When will it be ready for occupancy?

We started tearing down the existing building in April 2008 and the new structure will be able to deliver the office suites in May/June of 09.

What if I wanted to lease some space, can that be done?

Technically yes, but the price point will be much higher than buying. Let us know if you are interested in learning more about leasing versus buying.

Are there any residential units?

Yes. There will be a couple of residential units available if they are not taken for office suites. One unit will be about 2200 square feet and the other around 1100 square feet.

The 2200 square foot unit will have stair access to a third floor space which can be used as two bedrooms, or as an upstairs office / study. The front doors will be on the 2nd floor of the building accessible by stairs or elevator. They will look out onto 3rd Avenue North.

Can my company have its own signage?

Yes. Everyone office suite in the building will get a permanent placement on the building sign. It will be designed much like the Pope Moran House on Third Avenue South, one block away.

What are the common area fees?

Every owner will sign a set of covenants that will spell out what they can and can't do and how to go about operating an Association. The Association controlled by the condo owners will determine that monthly cost assessment.

Expenses will be allocated based on your ownership interest. If you own 20% of the space, you'll pay 20% of the ongoing costs of the electricity, water, security, insurance, etc. We estimate that the common area fees will add up to $ 7 per square foot.