The Strategic Housing Finance Corporation of Travis County announced Dec. 19 that it will sell affordable housing community Rosemont at Oak Valley Apartments after years of alleged maintenance issues and financial mismanagement, which was worsened by Winter Storm Uri in 2021.
The SHFC decided to sell the property to Foundation Communities, a nonprofit that works to provide affordable housing. Executive Director Walter Moreau said it will likely take until January to receive a contract, and then Foundation Communities will have to undergo inspections before it is officially sold.
The SHFC announced it was ready to sell the property and began soliciting proposals in October. Rosemont is under a 30-year restrictive covenant; however, the property only has 12 years left on that agreement, meaning if the property was sold to a bidder without a mission to maintain affordable housing, it would potentially price out long-term tenants.
“[The SHFC] tried to rush through the sale and give it to their highest bidder without concern of what would happen to the residents that lived there,” said Noelia Mann, a tenant organizer at Building and Strengthening Tenant Action.














