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February 11, 2022

Developer proposing 415-unit high rise on Franklin Street

Photo | Worcester Planning Board The proposed high-rise at 274 Franklin St. in Worcester would be built on the former site of Pepe's Italian Restaurant.

Worcester-based developer GoVenture Capital Group, LLC plans to construct a 415-unit high-rise at a former industrial site off Worcester’s Franklin Street, according to an application submitted to the city's planning board.

The proposed development would be located along 10 lots on Franklin, Arctic, and Hygeia Streets, which would be consolidated into one.

Several abandoned industrial buildings are to be demolished to make way for a 309-unit, U-shaped complex. The properties at 33 and 45 Arctic St. would be renovated into residential dwellings including 106 units. 

In total, across the development, there would be 86 two-bedroom, 236 one-bedroom, and 93 studio units. The plans also include a drive-in multi-level parking garage with 360 parking spaces and 108 surface parking spaces.

The four-acre site is located near the intersection of Grafton Street, under an I-290 overpass. It includes 274 Franklin St., the former site of Pepe’s Italian Restaurant, which completed a move to Shrewsbury Street in November. Most of the parcels are owned by entities registered to Nan Yang of Framingham, who bought them in 2014.

Yang gained planning board approval for the development of a 600-unit complex in 2015, but never completed the plans.

GoVenture Capital Group, the firm proposing the project, is also working on a 105-unit residential complex on Brooks St. known as Brooks Street Commons. That project consists of market-rate apartments.

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