The company's regeneration arm (formerly Keepmoat Regeneration) will deliver 24 apartments for the over 55s on The Boulevard, along with communal space.
Elsewhere, the former Braeburn House care home on Moor Lane in Eastfield will be demolished to clear space for 29 new 'affordable' apartments for older people.
Construction work is to begin next month, with both developments scheduled to be complete by summer 2019.
Nathan Brough, Regional Director at ENGIE, said: "With an ageing population, it is vital that we work with our partners to provide a variety of housing options for our older residents.
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"By providing good quality affordable homes that offer additional support facilities, individuals have the opportunity to choose the right type of housing that caters for their current and future needs to ensure they enjoy living as independently as possible."
Karen Howard, Development Manager at Yorkshire Coast Homes, added: "These developments will form part of the wider regeneration of the Eastfield estate and offer an excellent example of a partnership development, involving North Yorkshire County Council, Scarborough Borough Council, Yorkshire Coast Homes and ENGIE, with funding from Homes England."
Cllr Bill Chatt said: "The schemes to deliver quality, affordable housing for older residents will be welcome additions to the existing Eastfield community and the new community being created at Middle Deepdale. Both schemes are positioned alongside housing for young families and couples, which will help to create a true sense of multi-generational living."
Image: Artist's impression of the Braeburn House development.
(LM/LM)
