The group has officially bought the Robert E. Lee Apartments.
SAN ANTONIO — A historic low-income apartment complex in downtown San Antonio will stay affordable, thanks to the San Antonio Housing Trust.
The group has officially bought the Robert E. Lee Apartments.
An online search shows that since the 1990s, this complex has been an affordable housing option for people in this community
There are 72 units, and residents must make below 60% of the average income of San Antonio and New Braunfels to live there.
The building went up for sale on February 15. Weston Urban, which owns the Soap Factory Apartments and is behind the Missions Baseball team, as well as the new Missions Baseball stadium downtown, also put an offer in.
If you’re curious how a nonprofit bought the $4.35 million building, residents and non-profits had the first right to the building if they made a market offer.
The San Antonio Housing Trust is a non-profit created by the City of San Antonio that uses public and private dollars for affordable housing. They finalized the deal in June, and it officially closed Monday.
In a statement the executive director of the nonprofit said their next step is to renovate the property.