snapshot-of-franklin-development-2017

An image of new and approved developments from 2017 in the city of Franklin from a new report.

By BROOKE WANSER

At a Franklin planning meeting last Thursday, the city revealed statistics and data pertaining to the latest development in 2017.

Closing sidewalk gaps, stabilizing the Harpeth River, and the approval of funds for a new park in southeast Franklin are a few highlights from the report.

The estimated population and number of residential building permits issued was revealed in the “at-a-glance” section of the report:

  • Estimated population: 77,364, an increase from 74,440 at the end of 2016.
  • Population growth rate: 3.9 percent, a 2,924 population increase over last year’s.
  • Acres rezoned: 319 acres, which were zoned for residential, office, and mixed-use developments.
  • Residences to be constructed: 8,879, of which 861 were approved in 2017, compared with 1,028 dwellings approved in 2016.
  • Residential building permits issued: 1,595, of which 565 were for single family homes, 920 for apartments, and 110 for townhomes.
  • Non-residential square feet approved by site plan: 1.33 million square feet for office, retail, and commercial space.
  • Non-residential square feet in building permits issued: 1.34 million square feet for office, retail,  and commercial space.
  • Acres annexed: 32.74 acres

Properties rezoned in 2017 include the Harpeth Square mixed-use project and the Shadow Green, Apex Village and Water’s Edge communities.

Just over 8,000 units in 47 neighborhoods are still under construction, the report details.

Of the approved 1.3 million square feet of non-residential space, 55 percent will be used for office space, while a planned 15 percent is slated to be used as retail space.

The largest planned office space approved in 2017 is the Ovation East Office Building for Mars Petcare, at 232,772 square feet, followed by 1011 Reams Fleming Boulevard, the new home of Ramsey Solutions, at 219,587 square feet.

In a snapshot of the existing housing in Franklin, the overwhelming majority of homes, 58 percent, are single-family. Apartments make up 20 percent of the housing and townhomes and condos make up 11 percent.

For housing units approved in 2017, though, apartments led the way with 3,717 units, or 42 percent of the market, followed by townhomes and condos at 26 percent, and single family homes at 18 percent. Nine percent, or 839 units have been approved for the Westhaven community alone.

As the Franklin population continues to steadily increase, the projection for 2020 is 85,000. By 2030, the report estimates there will be 106,000 housing units and by 2040, there will be 128,600.

Click here to read the full report.