Ribbon cutting for new, affordable housing community in Newtown

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SARASOTA - On Wednesday, Sarasota city officials cut the ribbon on the grand opening of a new, affordable housing community in Newtown.

The King Stone Townhomes on Martin Luther King Junior Way replaced the former Mediterranean Complex; a community that the Sarasota Housing Authority says had become a nuisance for the its neighbors and the city.

The new complex has 28 green, energy efficient apartments for low-income families.

After planning the project for the last year and a half, Housing Authority officials say the development is something the entire city can be proud of.

“That's our vision, to take areas of blight and transform them…transform the neighborhood, transform the lives, but also to preserve it as affordable housing,” says Bill Russell, Sarasota Housing Authority.

King Stone was funded using 2.5 million dollars of a Federal Neighborhood Stabilization Grant.

Mayor Atwell and Vice Mayor Shaw were on hand for the event.

ABC 7 News will have more on this grand opening starting tonight at 5pm.