Five private companies announced creation of for-profit redevelopment company, Franklin Town Corp., in 1971 with Philip Johnson consulting on design; 1981 sculptor Athena Tacha's design for Franklin Town Park wins competition sponsored by RDA; 1991 Tacha awarded contact and Connectionscompleted 1992; Park built by Franklin Town Corp. through RDA "percent for art" requirement and maintained out of fund supported by Franklin Town Corp., Logan Square East Corporation and private. development.

In 2013, Franklintown Park was renamed Matthias Baldwin Park.