New Multifamily Community in Worcester is being Developed by The Michaels Organization and GoVenture Capital Group
WORCESTER, MA (August 24, 2023)—Maugel DeStefano Architects, a New England-based award-winning architectural firm recently named 2023 Architectural Firm of the Year by the Boston Real Estate Times, has completed its initial designs for the Franklin Lofts, an amenity-rich multifamily community being developed by the Michaels Organization, in partnership with GoVenture Capital Group.
Located at 274 Franklin Street in downtown Worcester, the community is just a few blocks from Union Station. Current plans call for 364 apartments, including market-rate and affordable dwelling units.
Franklin Lofts is already entitled and has all approvals from the City, according to lead developer Jay Russo, Regional Vice President of Development at The Michaels Organization. Construction is expected to begin once the final financing details are in place.
“We are excited to bring this much-needed housing to this great neighborhood, and we are thrilled with the designs presented to us by Maugel DeStefano Architects,” Russo said.
What sets the residences apart is the exceptional amenities package. Residents will be able to enjoy a cafe, fitness center, yoga room, top floor community room, roof deck, game room/theatre, pet spa, diverse work from home spaces, and a large package room equipped with commercial refrigerators. The expansive outdoor courtyard, spanning nearly three-fourths of an acre, offers a variety of inviting spaces that cater to individuals of all ages, including scenic walking paths, grilling stations, large lawn/multiuse space, a pavilion, game areas, a dog park, and private patios for ground floor units.
"Maugel DeStefano Architects was privileged to be an integral part of the Franklin Lofts project since its inception, collaborating closely with the joint venture team,” said Architect Jeremy Baldwin, Multifamily Studio Lead at Maugel DeStefano Architects. “We are pleased that our role as our client’s advocate throughout the permitting process successfully secured all necessary approvals. As the project progresses, we look forward to providing comprehensive construction phase services, ensuring the seamless execution of GoVenture's and Michaels’ vision."
Once the project breaks ground, construction is expected to take about 22 months.
“Working with Maugel DeStefano Architects has been a great partnership. We share the same passion and enthusiasm for revitalizing areas in our community, and we look forward to continuing our relationship on another landmark project in Worcester,” said Harold Reader, Vice President of GoVenture Capital Group, LLC. “
Maugel DeStefano had previously designed GoVenture Capital Group’s 111-unit multifamily development, The Kiln, located at 222 Brooks Street in the Greendale neighborhood of Worcester.
About Maugel DeStefano Architects
Celebrating 30 years, award-winning Maugel DeStefano Architects shapes exceptional spaces and creates environments for innovation and growth. Named 2023 Architectural Firm of the Year by the Boston Real Estate Times, our designs come to life in millions of square feet of commercial and residential real estate throughout New England for a wide range of clients and industries, including multifamily, healthcare, industrial, science and advanced technology, commercial and custom residential. We value long-term partnerships with clients, many of whom choose Maugel DeStefano Architects time and again to help them realize their vision.
About The Michaels Organization
The Michaels Organization is a national leader in residential real estate offering full-service capabilities in development, property management, construction, and finance. Serving 175,000 residents in more than 500 communities nationwide, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement and neighborhood prosperity and to creating Communities That Lift Lives.