It currently is owned by Berks Area Regional Transportation Authority (BARTA) and hosts a brewpub restaurant operated by Saucony Creek Brewing Company.

Built by the Reading Railroad and dedicated on February 25, 1930, Franklin Street Station later served the SEPTA diesel service extending the Manayunk/Norristown Line to Pottsville.

The plan was to alleviate overcrowded services at the BARTA Transportation Center located about a block away, as well as make an effort to preserve the historic station.

The purpose for the acquisition was to create a multi-use complex in which the rehabilitation/renovation of the existing Franklin Street Station building and site was an integral component of the overall development of a transportation facility in the area.

In 2020, the Pennsylvania Department of Transportation conducted a feasibility study on bringing passenger train service to Reading via Amtrak.