A rendering shows an exterior view of Founder’s Pointe Apartments planned at 1255 Upper Shelbyville Road, Franklin. The 192-unit complex will be laid out across six buildings on a 19-acre site. Artist's rendering by Cooler Design
A Carmel-based company plans to break ground this month on a new market-rate apartment community on Upper Shelbyville Road.
Lauth Communities, a wholly-owned subsidiary of Carmel-based Lauth Group, Inc, is building 192 units on a 19-acre site at 1255 Upper Shelbyville Road, Franklin. The units will be spread over six garden-style buildings containing one to three apartments ranging from 741 to 1,247 square feet, according to information provided by the company.
The development includes amenities more elaborate than those seen in other parts of the city. There will be a clubhouse with a resort-style pool, sundeck and fitness center. There will also be an on-site dog park and picnic area with grills, according to the company.
Apartments will come with state-of-the-art resident technology packages, in-unit laundry, granite countertops and stainless-steel appliances. Units will be sold for market rate, which will be determined based on the market rate when the first building is ready to lease, according to the company.
The groundbreaking ceremony will be held July 26 and the project is scheduled for completion in 2023. Leasing information will be made available when the leasing office and first residential building nears completion, according to the company.
Lauth worked closely with city of Franklin officials while planning the development. Franklin’s growing economy makes it a logical choice for a project like this, company officials said.
“The city of Franklin’s significant regional job growth and new construction activity in the logistics sector is driving demand for high quality housing,” Dan Mallon, executive vice president of Lauth Communities, said in a statement. “We are excited to see this project break ground and look forward to being a part of the Franklin community.”
In addition to this new project, Lauth Communities recently acquired and took over management of City View Farm Apartments, 1037 W. Jefferson St., further growing their presence in the city.
Mayor Steve Barnett said the project will help meet the housing needs of Franklin’s growing population, particularly young professionals who desire high-end apartment living. The development’s location near Needham and Webb elementary schools, the city’s trail system and Interstate 65 will further increase desirability of the community, he said.
“Lauth is a good firm that has a good reputation. They will be a good addition to our community,” Barnett said. There is definitely a need (for apartments). There are a lot of young professionals who want to live in Franklin who would like to rent from a place like Lauth.”
This is just one new rental option that people wishing to live in Franklin will have next year.
Franklin developer MultiPro, LLC is building a 167-unit maintenance-free living rental home community on King Street next to Franklin Fire Station No. 22.
The development is being built in two phases, with the first 98 units under construction now. Each unit will have three bedrooms, two bathrooms and two-car garages built to accommodate trucks and SUVs. Select units in the complex will have a sunroom.
The units will include luxury finishes, stainless steel appliances, granite countertops, plank flooring, vaulted ceilings, spacious walk-in closets and in-home laundry, said Chris Dowty of MultiPro.
Rents are market rate and will range from $1,800 to $2,100 per month, with the higher rent applying to the units with sunrooms, Dowty said.
