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The San Antonio Housing Trust Foundation announced on Wednesday that it will purchase the Robert E. Lee Apartments tower, a low-income 72-unit apartment building in downtown San Antonio.
The future of the building has been in question as for-profit developers proposed market rate housing, a significant change from the working-class housing within the city’s core.
Housing Trust leaders hoped to take ownership on July 1.
District 1 Councilwoman Sukh Kaur, who sits on the housing trust board, celebrated the news and said in a statement that she was proud to advocate for the purchase.
In February, it was targeted for purchase by major real estate developer Weston Urban, which offered $4.35 million for it.
Major real estate developer Weston Urban has put in a $4.35 million bid for the building, but the city’s housing trust and local tenants say they are likely to submit competing bids.
Tenants in the building formed a union and said they didn’t want to leave their homes.
Weston Urban owns much of the land surrounding Robert E. Lee, including the Frost Tower in the block southwest of the apartment building, Legacy Park in the block south of it, the new 300 Main apartment tower the block east of it, the commercial building at 425 Soledad St. in the block northeast of it, and the Soap Factory Apartments two blocks west of it.
