GENERAL

  • We anticipate groundbreaking in August 2024 and construction completion in August 2026.

  • The Middle Eight will offer an array of sizes ranging from 420 sf studios to 2400 sf 3-bedroom penthouses. We currently anticipate offering 22 penthouses with each unit including large walk-out terraces at the top of each building.

 
 

CONSTRUCTION RELATED

  • Construction will take approximately two years. Hardaway Construction, a Middle Tennessee Company with 99 years of building experience in this area, has been selected as the general contractor.

  • Blasting is common in Middle Tennessee, and if required, we expect little, if any, impact on neighboring properties. If needed, blasting is expected to last approximately 45 days. Extensive precautions, pre-inspections of neighboring properties, and insurance will be provided to insure against any unforeseen damages.

    See the link for an explanation of construction and blasting operations.

 
 

STORMWATER & FLOODING

  • The Middle Eight will be held to the highest engineering standards for stormwater management. The property currently sheet flows directly onto neighboring properties along the southern border (Old Liberty Pike). Our proposed stormwater design goes above and beyond by reducing stormwater flows an average of 25% in comparison to the existing conditions. In other words, after the development is completed, the stormwater management will be better than the current conditions.

    See link to how stormwater management will be handled.

 
 

DESIGN, DENSITY & PARKING

  • As you will see, we are proposing the east residential building to be a 4 story building with a recessed 5th story. The building will be within 10% of the height of its neighbor Jamison Station, +/- 57 feet. The west residential building, which is +/- 36 feet high at Liberty Pike, is a two-story building with a recessed third story. Because of the natural fall of the land, each building becomes larger at the back, where the parking garage becomes exposed above ground (a similar condition can be seen at Jamison Station). To deal with this condition, we have proposed shallow liner units to hide the parking garage, which would otherwise be exposed on the south side. This beautiful design element hides an ugly part of the building and helps create an authentic neighborhood street. The alternatives are an exposed parking garage or a large blank wall to conceal the parking garage.

    See link to the 5/4/23 PD application to The City of Franklin for numerous drawings demonstrating the sizes, slope of the land, exposed basement/garage, and heights.

  • No. The taller of the two multifamily buildings, the east residential building, is proposed to be within 10% of Jamison Station’s height. Jamison Station is approximately 54.5 feet, and the adjacent building at The Middle Eight is expected to be +/- 57 feet. The west building is a two-story building with a recessed third story and is +/- 36 feet high at Liberty Pike.

    See link to the 5/4/23 PD application to The City of Franklin for numerous drawings demonstrating the sizes, slope of the land, exposed basement/garage, and heights.

  • The water tower is approximately 110 feet high. The west residential building, closest to the water tower, is only about 36 feet high. The east residential building closer to Jamison Station will be about 57 feet high.

  • No. Harpeth Square is a wonderful comparison; it offers 150 units on approximately 2.5 acres (excluding the hotel), with less than 10% open space, and has been a beautiful addition to our city.

    The Middle Eight proposes 275 units on 7.2 acres; this much lower density allows for almost 50% open space. This open space consists of plazas, courtyards, a greenhouse, and two landscaped parks; virtually all of this space will be available to the public. The design encourages an open-door feel that welcomes all Franklin residents and creates a walkable community in the emerging Factory District rather than a gated residential experience.

  • The Middle Eight is committed to providing ample parking for its residents and will strictly enforce parking compliance, by lease, within the gated parking garage. It would be a significant detriment to the Project’s success not to have ample parking. Therefore, we sourced an extensive study to determine parking demand at this location and within comparable properties in Franklin. To overbuild private parking, which would remain empty and not available to the public, would be wasteful of resources and not in keeping with Franklin’s vision for sustainable and exceptional design.

    See link to summary parking demand analysis.

    See link to summary parking enforcement procedures.

 
 

MARKET DEMAND & VIABILITY

  • Franklin has become one of the most expensive housing markets in the southeastern United States. Growth has outpaced projections twice in the last decade. As the housing deficit grows, the costs to rent or buy a home will continue to rise. More supply of all housing types is necessary to keep up with growth. The Middle Eight will offer diverse housing options, from small studios and one/two-bedroom apartments to large three-bedroom homes.

    See link to The Concord Group’s summary housing assessment.

  • Yes. We aim to provide studios starting at 420 square feet, a series of smaller 1-bedrooms at 525 square feet, and a select offering of 2-bedrooms beginning at 750 square feet. These supplement the larger units typical in the market and allow people to choose quality and location over size. Based on today’s market values, we expect that studios and smaller units at The Middle Eight will be attainable for those with household incomes starting at $52,000.

  • The Truland team’s main goal has been to steward this land well and use it to invite those who have previously been unable to live in walkable downtown Franklin. We have created a delicate balance of density within the project that will, first of all, be attractive to a capital investor so that it can actually be built. Secondly, be sensitive to those in our community that can only afford to live small in this expensive area. And lastly, to appeal to the higher-end residents and the standards of our beautiful city. In other words, the project must be exceptionally designed. We are proud to have found a way for the proposed Middle Eight to achieve all these objectives. If this delicate balance is changed, perhaps by removing a floor in the east residential building to reduce the density, the only objective that will be affected will be our ability to welcome those among us who can only afford something small. The exceptional design will not change, the ability to meet the need of the uber-wealthy will not change, and the interest from a capital partner will not change, but the small units designed for the younger generation or perhaps for the older who are willing to live small will have to be removed.

    This project has the fantastic opportunity to offer a diverse form of housing in walkable downtown Franklin, but as with all opportunities, it does not have to be taken. And that decision is ultimately with our leaders. We humbly offer a way to achieve these objectives in this unique area of Franklin, the emerging Factory District.

  • No. We aim to provide lower monthly rent across a select set of smaller units by providing efficiently designed spaces where someone can sacrifice space in trade for lower monthly costs. For example, few studio apartments exist in Williamson County, and the ones that do are approximately 200 square feet larger than we are proposing. Current market rents translate into savings of roughly $600 per month. Of equal importance, the quality of the units will not differ according to size. The smaller units will have the same finishes and attention to detail as the large units.

  • For even the most affluent, home ownership in Franklin is becoming unattainable. Demand for rental housing, known as lifestyle renters by choice, is growing nationally at all income levels. In Franklin, most of the growth is at household incomes above $100,000 and $150,000. This demand is also pushing less affluent people out of Franklin. We want to deliver smaller units to provide options for displaced people earning less than $100,000 annually. The average list price for housing in Franklin has climbed to $950,000 (Marcus & Millichap), requiring +/-$200,000 down payments, which demands incomes of more than $200,000 per year. Monthly housing costs are approximately $2,000 per month, higher than The Middle Eight’s average-size luxury apartment.

  • Yes. The project team comprises a premier group of local and national consultants who are experts in their respective fields. The project strives to provide exceptional design, which will become the top-of-the-market in Franklin multifamily housing. The project is fully funded (privately) through construction start. It will raise debt and equity capital for construction. Money is available because of the strong growth and demand in the market.

 
 

CITY OF FRANKLIN STANDARD PROCESS

  • Truland Development first met with the City of Franklin in May 2021 to understand the regulations and get guidance on navigating the process. We received initial feedback that helped guide our plan, along with the guidance of Envision Franklin (last amended in 2017). Once the guidance was understood, we built an entire project team to adequately apply for Development Plan/Rezoning and Historic Zoning Commission approvals. Since then, the project has been following the required and typical development process outlined by the City of Franklin.

    City Submittal website to review Public Records documents of Development Plan Submittal. (Upon entering one needs to create an account.)

  • The City of Franklin requires property owners of record within 500’ to be notified by mail before required neighborhood meetings. This project was required to have two neighborhood meetings, one for the Envision Franklin Amendment (1/31/2023) and another for the PD/rezoning application (4/5/23). The Planning Department provides the list of property owners to the developer. We have heard some people believe they did not receive notification. We asked the City to review the list and confirm it is all-inclusive. To alleviate any possibility of exclusion, a second meeting for the PD/rezoning is scheduled, although not required, on May 22nd as an informational meeting. This will be an opportunity for neighbors to listen to the experts on the project. Please contact us if you would like to receive the Zoom link to this additional informational meeting. info@trulandgroup.com

  • Toby and Amanda Mckeehan have lived in the historic Alpheus Truett House on Franklin Road for nearly 30 years and have had the pleasure of raising their five children here. Franklin is their home, and they are deeply invested in its people. As stewards of this beautiful piece of property, they have diligently protected it from a multitude of developers over the years. The combination of the exciting revitalization of The Factory, and the recognition in Envision Franklin of the property being appropriate for multi-family housing, led them to think about how they could use the property to help serve the needs of Franklin while holding on to the beauty in their own backyard, and the character of the district around them. To that end, they decided to create their own development company, Truland (trulandgroup.com), in partnership with a longtime friend and multifamily Developer, Charles Rulick, a former Franklin resident who understands the unique nature of the community. Together with a host of local and national partners, they have created a thoughtful plan for the best possible use of the seven acres behind their home. The Middle Eight will be a community that they hope will attract a diverse group of residents.

 
 

COMMUNITY BENEFITS:

THREE BIG TAKEAWAYS ABOUT THE MIDDLE EIGHT

 

 

ONE

The Middle Eight aims to meet the goals of Envision Franklin by providing a collection of exceptionally designed homes in a diverse range of sizes to meet the market opportunity.

The Middle Eight’s average size studio, 1-bedroom and 2-bedroom units are 14% smaller than the market average. This allows a person to trade size for a premier location without sacrificing quality.

(The Concord Group).

 

Only 1% of the existing housing stock in Williamson County is studio apartments. The Middle Eight will offer 11% of its units as studios

(The Concord Group).


 
 
 

 

TWO

The Middle Eight will cause less than a 6% increase in vehicle trips on surrounding roads.  Our contributions to pedestrian infrastructure will also further enhance the walkability of the greater neighborhood.

(KCI Technologies).

 

 

THREE

The Middle Eight will provide significant positive economic impact.

INCLUDING:

$16 M in estimated public improvements (Hardaway Construction)  and municipal fees (City of Franklin & Fulmer Lucas Engineering), and  +/- $1,150,000 in annual property tax. (Marvin Poer/Ryan).

 
 

Please feel free to contact us with additional questions.