Franklin Place, designed by Charles Bulfinch and built in Boston, Massachusetts, in 1793–95, included a row of sixteen three-story brick townhouses that extended in a 480-foot curve, a small garden, and four double houses. Constructed early in Bulfinch's career, Franklin Place came after he had seen the possibilities of modern architecture in Europe and had determined to reshape his native city. It was the first important urban housing scheme undertaken in the United States, and the city's first row-house complex. However, years of decline and the push of industry into the area forced its demolition in 1858.
Tontine Crescent
The name "Tontine" derives from a financial scheme originated by Neapolitan banker Lorenzo de Tonti, which he introduced in France in the 17th century. Money for the enterprise was to be raised by selling shares of stock to the members of the public, who would later share in the profits from the sale of the homes. It is essentially an annuity, the shares passing on the death of each beneficiary to the surviving partner until all are held by a single shareholder, or being divided among surviving stockholders at the end of a stated period. Although this method of financing was in rather wide use in Europe at the time, the Massachusetts General Court refused articles of incorporation and the project ultimately rested on Bulfinch's meager business talent. On July 6, 1793, the Columbian Centinel carried the following notice:
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