The Franklin School condominium development has been awarded a prestigious Prism Award for 2007. The historic 100 year old Franklin School on Central Ave. underwent an adaptive re-use conversion into 20 luxury condominiums now called The Residences at Franklin School. The Prism Award is given annually as a tribute to New England's most elite housing industry professionals for excellence in building design, sales and marketing and other real estate development categories. At their black tie gala at the Park Plaza Hotel, the Builders Assn. of Greater Boston awarded The Residences at Franklin School this year's Prism Award as the Best Condominium Conversion. Franklin was developed by The Equity Company, Inc., based in Malden. Rick Williams, president of Equity, described the Prism Award as the Academy Award for real estate development in N.E. "We were honored by this recognition by our professional peers. They understand the difficult and complex task of creating the magnificent property that Franklin has become. The Franklin development was a team effort lead by Equity and included Abacus Architects and Metric Construction. The Prism Award is the third major award that this collaborative team has received."