127 Franklin Street measures approximately 2,199 square feet and is situated on a 7,500 square foot lot. Known as The Holmquist House, the structure was built circa 1895 as a four-bedroom residence. Since then, the property was converted to a duplex with two, two-bedroom units. The property is located within the Downtown Precise Plan Area in Redwood City and has a land use designation of Downtown General. This designation allows for a wide range of uses, including residential, office, and commercial. The existing improvements can be utilized in their current configuration, or the site could be redeveloped or converted to another permitted use. Redwood City has been going through a dramatic transformation over the last 13 years, particularly in the downtown area. Since the Downtown Precise Plan was approved in 2011, more than 2,000 residential units and 1.65 million square feet of office and commercial space has been developed in the downtown area. Additionally, 540 residential units and 860,000 square feet of office space are currently under construction, with another 270,000 square feet of office space in the planning stages.