Ribbon cutting held for Clarkson affordable apartments

Rural Opportunities, Inc. President and CEO Stuart Mitchell will cut the ribbon on the Seldon Square Apartments, Phase II, located at 125 Sunset Center Lane in the Town of Clarkson on November 24. This complex, developed by Rochester-based Rural Opportunities Inc., consists of thirty-six, two and three bedroom apartments, for lower income families. This development helps address the need for additional affordable housing in suburban Monroe County which was identified in a 1996 Impediments to Fair Housing study.

Funding for Seldon Square Phase II includes $520,000 in federal funding through Monroe County, $2,892,340 in tax credits through the NYS Division of Housing and Community Renewal, $250,000 from the Federal Home Loan Bank through HSBC and $180,000 from Neighborhood Reinvestment Corporation. HSBC has also provided $2.4 million in construction financing and $550,000 in permanent financing to the development.