The San Antonio Housing Trust Foundation closed a multimillion dollar deal for the downtown Robert E. Lee apartment building on Tuesday.

The 72-unit apartment building came on the market last year, when downtown developer Weston Urban offered to buy the property on the intersection of Travis and Flores streets for $4.35 million.

The Housing Trust was given an opportunity to bid on the building and agreed to purchase the building in June for $3.27 million, plus assuming an unpaid $1.7 million city loan.

The Bexar County Appraisal District listed the property’s assessed value at $2.8 million — around $1.6 million for the land and $1.2 million for the building.

The building’s units are set aside for affordable housing due to a 1995 agreement with the city. That means apartments are fo

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