Retail, rental homes planned
FRANKLIN. The Markstone Group is moving forward with plans for an upscale community at the site of a former zinc mine.
Franklin /
| 03 Apr 2025 | 06:12
An aerial view showing plans for an upscale retail and residential rental community at the site of a former zinc mine in Franklin. (Photos provided)
A rendering of a proposed retail and residential project on Main Street in Franklin.
The Markstone Group is moving forward with plans for an upscale retail and residential rental community at the site of a former zinc mine in Franklin.
The multi-phase project was made possible by the Borough Council’s approval of a redevelopment plan for the downtown area.
Franklin has suffered economically since the mine closed operations in the 1950s. The mine formerly was owned by the New Jersey Zinc Co.
“This is a milestone effort for the Markstone Group,” said Jacob Freund, chief operating officer at the real estate development firm.
“For nearly many years, multiple developers have tried unsuccessfully to come up with a development plan that worked at this site, and we believe we have finally succeeded. It is our hope to rejuvenate this beautiful community and to revitalize its historic Main Street.”
As part of the project, the Markstone Group will undertake a comprehensive environmental remediation at the property to address historic contamination left by the defunct mining operation.
The firm plans to develop a clean and safe community with copious open space. All work will be performed in compliance with state Department of Environmental Protection (DEP) requirements.
The project would have retail spaces on Main Street and about 400 one-, two- and three-bedroom homes.
Also planned are a fitness center, open and community meeting space, and a café.
The Markstone Group hopes to break ground in 2026.
Plans will be presented to the borough and the land-use approval process will be led by Thomas Prol, a member of the law firm of Sills Cummis & Gross.
Prol, a Franklin native who attended Franklin Elementary School and Wallkill Valley Regional High School, grew up near the zinc mine site.
The Markstone Group also has tapped Stonefield, a full-service land development consulting firm, to provide site, civil and traffic engineering services. The engineering team will be led by Michaela Maguire, who will guide the shaping of the land, parking lot, building envelope and overall design of the site and the roads.
The Markstone Group is seeking to attract small businesses and new families to the area.