Swap a boost to Franklin Heritage


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The Franklin Development Corp. is trading this property on Madison Street with the owner for a house it owns on Main Street. Franklin Heritage will take the property on Madison Street, the former Madison Hotel, along with a $50,000 grant and turn the property into a resource library, meeting space and storage. Scott Roberson / Daily Journal


The Franklin Development Corp. is trading this property on Madison Street with the owner for a house it owns on Main Street. Franklin Heritage will take the property on Madison Street, the former Madison Hotel, along with a $50,000 grant and turn the property into a resource library, meeting space and storage. Scott Roberson / Daily Journal


A Franklin historic preservation group wants to turn a former downtown hotel into a new meeting space after receiving the building and a $50,000 grant from a city-formed organization.

Franklin Heritage Inc. is planning to restore the property at 48 E. Madison St., which was the Madison Hotel for about 35 years starting in the 1940s. The group, which has renovated other properties in the city, plans to use the building for a resource library, meeting space and storage.

The Franklin Development Corp., a nonprofit organization created and funded by the city, traded a property it owned at 650 N. Main St. to rental property owner Walter Roach for the Madison Street house. The organization then gave the former hotel to Franklin Heritage.

Franklin Heritage also is getting a $50,000 grant from the organization for renovations. The Franklin Development Corp. also is giving Roach a $50,000 low-interest loan for work on the Main Street home.

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