The Benjamin on Franklin: 364 Units Advance Worcester’s Downtown Growth

A New Residential Anchor Near Union Station

The Benjamin on Franklin brings new housing and modern amenities to a key site in downtown Worcester. The Michaels Organization and GoVenture Capital are developing the community at 274 Franklin Street with Maugel DeStefano Architects and H+O. The five-story building will include 364 apartments supported by more than 80,000 square feet of amenity space.

A 3.23-acre site spanning Franklin, Arctic, and Hygeia Streets places residents steps from Union Station, offering access to commuter rail service toward Boston and convenient links to downtown and the Canal District.

Housing Designed Around Transit

Renovation work at Union Station increased activity in surrounding blocks and helped shape demand for homes near transit. The Benjamin on Franklin advances this pattern by delivering housing beside a major regional transportation hub. Direct rail access and walkability reinforce the project’s long-term appeal and support continued growth in Worcester’s downtown core.

Homes and Amenities Supporting Daily Living

The new multi-family development includes 364 apartments, with 36 designated for households earning 60 percent of the area median income. Remaining homes serve the workforce and market-rate renters.

Amenities include a co-working space, fitness center, game room, rooftop deck, outdoor gathering areas, and bicycle storage. Electric vehicle charging stations are also part of the program.

A Capital Strategy Built for Stability

Project cost is about $120 million. The Michaels Organization secured a $53 million construction loan to advance the build-out. Safehold Inc. provided a ground lease structure, and Worcester approved a 15-year tax increment financing agreement valued at approximately $11.3 million. These components form a stable financial foundation for the development.

Structural Planning Supports Urban Delivery

H+O worked with Maugel DeStefano to develop a structural layout aligned with residential planning and amenity needs. Early coordination organized courtyard framing, interior community spaces, and ground-level circulation so design progression remained clear and efficient.

Proximity to Union Station and adjacent utilities required careful alignment with existing infrastructure. Addressing site constraints early reduced potential conflicts during construction and supported predictable delivery.

A Development Aligned With Worcester’s Momentum

Downtown Worcester continues to evolve through transit investment and activity in the Canal District. The Benjamin on Franklin adds new housing in a central, walkable location connected to transportation, employers, and community amenities, contributing to sustained residential growth in the district.

At H+O Structural Engineering, we bring structure, clarity, and cost alignment to large multifamily projects from early design through construction. Our process strengthens budget control, supports schedule reliability, and maintains design intent. For a structural strategy built around performance and predictable delivery, contact H+O to discuss your next project.