The plan stemmed from a need to expand the Town Hall. When town officials realized how much it would cost to fix up the historic structure and expand it, they started to explore the possibility of putting in office and retail space and adding 66 housing units as well, creating a mixed use campus. The plan was to use revenue bonds to finance the project and officials here wanted the project itself to generate revenue. The project was also the first development here to use the mixed use zoning bylaw, which allows for housing on second floors and above in this area of the city.
But town officials decided not to present the plan at the Town Meeting. "With the economy cooling and the state government late in the budget, it is hard to know what will be," Kathy Bartolini, director of planning and economic development for Framingham, tells GlobeSt.com. Bartolini adds that the market is also changing here for commercial and apartment space. "We felt that we weren't sure if the numbers we had used were achievable for rents, especially for retail and commercial space," she notes. The financing structure of the project would have required a Proposition 2 ½ override by the town, which, says Bartolini, would be difficult to ask of the residents in the current economic climate.
"We can't take on additional activities if we can't meet the basic needs of the population," she says. "Housing for downtown will have to wait. The project is on hold until we know what will happen.
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