Image courtesy of Embarc

A foreclosure auction is scheduled for portions of a prominent Allston site where developers have approvals for 75 apartments.

J.J. Manning Auctioneers scheduled the auction for a 0.38-acre site on Braintree and Franklin streets, part of City Realty Group’s Allston Square project that was originally approved in 2019 by the Boston Planning & Development Agency.

The two properties will be sold in the entirety, according to an auction notice. They include 4-8 Franklin St., a 0.7-acre parcel occupied by a warehouse which is approved for a conversion into nine apartments, and 20 Braintree St., a 0.31-acre parcel that’s approved for 66 apartments in a new 7-story, 73,820-square-foot building.

Centreville Bank provided $6.8 million in financing for the two properties in 2023, according to a Suffolk County mortgage.

The properties are part of the 402,040-square-foot Allston Square development site, where Allston-based City Realty Group has approval for 344 total housing units. The project cost was estimated at $127 million in 2023.

But construction has been delayed by rising project costs and interest rates. In 2023, City Realty switched from for-sale condominiums to rental units for three of the parcels, citing changing economic conditions.

And in December, developers received approval to reduce on-site parking by 109 parking spaces to a total of 38.

J.J. Manning Auctioneers describes the properties as a “prime development site” because of their proximity to the MBTA’s Boston Landing station, the Green Line and major bus lines.

The auction is scheduled for 11 a.m. on Oct. 7.