The historic Robert E. Lee Apartments, located at 111 W. Travis St., are now on the market for $4.35 million as part of a housing tax credit right of first refusal sale by Connecticut-based JHM Financial Group. The 72-unit building, which was completed in 1923, is currently 85% occupied.
Weston Urban has placed a bid of $2.65 million and will also take on existing loans totaling $1.7 million if their offer is accepted under contract terms.The property underwent a needs assessment in November 2024 that revealed necessary repairs to HVAC systems, windows, neon signs, roofing and basement water seepage among other areas.The estimated cost for complete renovations to all common areas and apartments comes out to around $4.3 million according to engineering firm J.Morales Inc.
If acquired by Weston Urban,the Robert E.Lee building would become part of their existing portfolio which includes the new apartment tower at300 Main Street,Wes ton Centre,the Milam Building,and land being prepared for a new minor league ballpark.This prominent developer’s interest in this century-old San Antonio landmark speaks volumes about its potential value as an addition to their already impressive collection.
