SAN ANTONIO - Alamo Area Mutual Housing Association (AAMHA) is working on an investment that could result in more than 450 new affordable-housing units over the next few years for the citizens of San Antonio and Bexar County.
That figure includes AAMHA’s recent purchase of a couple of existing apartment complexes — the 140-unit Cimarron City Apartments in Universal City on the far Northeast Side and the 136-unit Cypress Cove in Northwest San Antonio. The purchase price of Cimarron City and Cypress Cove is roughly $40,000 a door.
AAMHA also has a brand new community in the works. The current plans call for a community of 208 units, and the target area is Northeast San Antonio.
To date, AAMHA has nine properties with a total of 1,256 units.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.