Jacobs Entertainment’s deal to swap a $20 million housing development for the aging Sarrazin Arms Apartments on Third Street will provide the Reno Housing Authority with 65 new affordable housing units. The deal is crucial to Jacob’s master plan for J Resort, formerly the Sands Regency Casino Hotel, which Jacobs purchased in 2017. “Everyone benefits,” Jacobs added. “I have to create value on that property, otherwise I am out $20 million, but that’s why I get up and go to work