The city has approved funding assistance for the $9.2-million private development, which has been renamed Saybrook Apartments. The project at 47th Avenue and 44th Street will provide housing and supportive social services for 61 families.
Saybrook Apartments LP, a development group, is purchasing the 4.1-acre South Point Inn for an undisclosed amount. The project will be built through public and private financing and provide affordable housing for 55 years. It is expected to attract private investors into the area, while easing the area's housing shortage, according to county officials.
Officials say that Saybrook Apartment residents will have case-management services and supervision on the grounds 24 hours a day, seven days a week. Rents will be paid by federal housing subsidization vouchers, while tenants seek jobs.
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