Boston Capital partners with Franklin Housing Authority for apartment community

Boston Capital is investing in the preservation of the Spring Street and Johnson Circle development, a 64-unit apartment community in Franklin, Tenn.

The general partner is the Franklin Housing Authority, headquartered in Franklin. Spring Johnson Apartments represents Boston Capital's first investment with the Franklin Housing Authority.

The property will be renovated with tax credit equity from the low-income housing tax credit (LIHTC) program. Units will be available to families and individuals with incomes at or below 60 percent of area median income.

Originally built in 1963, Spring Street and Johnson Circle includes 64 garden-style apartments and features 24 one- and two-story residential buildings housing one to six units each. Spring Street and Johnson Circle will feature four studios, 24 one-bedroom, 17 two-bedroom, 12 three-bedroom, four four-bedroom and three five-bedroom units. Development amenities include an onsite public housing office and communi