The developer would have the option of either razing the existing properties and replacing them with a mix of new shelter and commercial development or renovating and improving all six multifamily buildings. The structures house 238 family tenants in an estimated 600 units.
The developer would allocate at least 40% of the units to public housing tenants. The remainder would be rented at current market rates. One property especially, the 100-unit Lake Monroe Terrace apartments, is in rickety condition and has long needed repairs. But convincing the tenants of such a plan will be a difficult assignment, the Housing Authority official concedes. Many of the tenants have lived in the projects for decades and fear they would be paying higher rents and be less protected by HUD in a newer, privately-operated facility. The Sanford Housing Authority lost an appeal to HUD earlier this year when it requested money to fix up or replace some of the aging structures with new residential and commercial facilities.
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