DEPARTMENT: Center City Development and Operations Department (CCDO)
DEPARTMENT HEAD: John Jacks
COUNCIL DISTRICTS IMPACTED: 2
SUBJECT:
Sale and disposition of the San Antonio Affordable Housing, Inc. properties located at 2900 block of Martin Luther King Drive. Staff Recommends approval. (Scott Price Ph.D. Real Estate Manager OUR SA and SAAH (210) 207-6357 scott.price@sanantonio.gov)
SUMMARY:
This Resolution authorizes the sale and disposition of San Antonio Affordable Housing, Inc. (SAAH) properties at 2902, 2906, 2910, and 2914 Martin Luther King to Ken Lowe and Prestige Homes.
BACKGROUND INFORMATION:
The approximate 0.73 acres represents a portion of a larger 1.817 acre property which was purchased by SAAH in December 2012 at the request of Council District 2 for $128,000. The four lot property is legally described as Tract II: Lots 7, 8, 9, and 10, Block 2, NCB 9552 in the City of San Antonio, Bexar County, Texas. All four of the properties are zoned R4. They are located in District 2, Arena District Plan Area and the Inner City TIRZ. The properties are located near the starting point of the annual Martin Luther King Parade.
Following the original acquisition by SAAH, the entire property was to be given to Merced Homes, a non-profit housing organization, for the development of a multifamily (seniors) housing project. Merced did not receive the Federal project grant and was unable to follow through with further efforts to develop the property.
SAAH has maintained the property since acquisition and solicited bids and proposals for the development of the property. Bids for the property were received in late 2015 and early 2016 by two for-profit residential developers and one for-profit commercial developer. Five non-profit developers were directly contacted for proposals, but none were received.
During a Special SAAH Board meeting on June 28, 2016, the Board voted to accept the contract from Ken Lowe and Prestige Homes for the development ...
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