An arm of the San Antonio Housing Trust is seeking to buy property where a nonprofit developer has been unable to achieve its goal of building affordable apartments near a transportation hub — where tenants can catch a bus to get to work and buy groceries. In the five years since Alamo Community Group bought 1.5 acres across from VIA Metropolitan Transit’s Centro Plaza, it has struggled to assemble financing for its proposed Cattleman Square Lofts.
West Side nonprofits seek to form community land trusts for preserving affordability The housing trust has a $10 million lending facility from Frost Bank that it can tap to buy property, along with the organization’s own funds, “so I ain’t looking for anything on the River Walk,” Alanis said. It is targeting sites near employment hubs and kindergarten services and along major transportation corridors so residents can more easily commute to work and find child care, he said.
Housing Trust director Pete Alanis has led troubled nonprofit in new direction The interim leader of Alamo Community Group was not immediately available for an interview. Land banking is another vehicle for the housing trust, which started in 1988 with $10 million from the city to produce and preserve affordable housing.
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