Developer seeks to add 340 units next to Bancroft Lofts in Framingham

Image Courtesy of the City of Framingham Planned development at 63 & 75 Fountain St. in Framingham

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By Timothy Doyle

Needham developer Washington Square Ventures plans to tear down one building in Framingham and convert another as part of a 340-apartment development next to its Bancroft Lofts complex.

The lots at 63 and 75 Fountain St. in Framingham are set to be developed into two buildings consisting of a combined 340 apartments.

"Justin Krebs, Matt Faris and Justin Shaw of Washington Street Ventures are part of the current development team and were also the primary members of the development team for the Bancroft Lofts development," said Brian Grossman of Worcester law firm Bowditch & Dewey who represents the development team via email. "They have focused on ensuring that the Project complements the prior development and integrates seamlessly with it."

In the first phase, the existing structure at 75 Fountain will be demolished and replaced with a five-story residential building consisting of 280 units and a two-level parking garage, according to documents submitted to the City of Framingham, by Grossman on behalf of the developer.

The existing commercial building at 63 Fountain will be converted into 60 loft-style apartments as part of a phase two.

The properties were purchased by affiliates of Washington Square Ventures in November for $14.5 million. Washington Square Ventures has built residential and mixed-use projects in Brighton, Jamaica Plain, and Winchester.

The project will have its first public hearing before the City of Framingham Planning Board on thursday.