A downtown Franklin building that long housed a printing shop will be renovated into a martini bar and apartments with help from a city-funded agency.
Indianapolis-based Indreno Development Group has purchased 97 E. Monroe St. and plans to remodel the building into a martini bar, retail space and four upstairs, high-end condominiums. The building formerly housed Padgett’s Signs and Design, which has moved.
The Alexander building originally housed a carriage shop and later an automobile dealership. About 70 percent of the $1.1 million project cost is being funded by the Franklin Development Corp., a not-for-profit agency that was created and funded by the city. The organization is giving the developer a $275,000 grant and $500,000 loan. Board members approved the funding for the project unanimously in October as one of four development proposals that totaled $1.3 million.