The 301-unit Lofts at Creekview apartment project on the East Side is more than $9 million over budget and won't be completed until November 2025, a suit says.
Already $9 million over budget, the debut of the first affordable housing project owned by the San Antonio Housing Trust has been pushed back nearly two years by construction delays and environmental remediation requirements, according to a pending federal lawsuit. The complaint details an ongoing feud between the owner of the bonds financing the project and two of the Kansas -based developer’s principals. The 301-unit Lofts at Creekview development, which is being built on 12 acres at 3815 E.
The San Antonio Housing Trust, which is not a party to the lawsuit, does not carry any financial risk and has not lost any money due to the delays, he added. Completion guaranty More than two years ago, Alanis touted the Lofts at Creekview as an “important public private partnership” in part because it “fundamentally changes how we work with private capital” by “keeping the financial upside within the community.
S.A Housing Trust Preston Hollow Community Capital Corp. Cohen-Esrey Development Group LLC Express-News Pete Alanis Alanis Cohen-Esrey Henry Bemporad R. Lee Harris Robert E. Esrey Brooks Lofts Preston Hollow East Side Creekview E. Commerce St. San Antonio South Side Pearsall Park Kansas U.S. Dallas Interstate 35 Creekview Guaranteed Maximum Price
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