On Wednesday, December 17, 2003 AAMA-CDC had a ribbon cutting ceremony for their new development project, Concord at Allendale. A partnership with the Trammel Crow Corporation, this initiative will assist 264 families with affordable housing who will reside in attractive properties while lowering their housing costs. Added to AAMA-CDC current portfolio of projects it results in over 4,000 people being served annually by AAMA-CDC initiatives.

Rogelio R. Santos, Board Chair of AAMA-CDC, said, "We have embarked on an aggressive effort to develop effective initiatives with the private development sector, such as our partnership with the Trammel Crow Corporation, with their assistances we will continue our mission of addressing the Hispanic community's unmet needs in housing, economic development and community revitalization."

The CDC was formed in 1988 with the mission of addressing the Hispanic community's unmet needs in housing, economic development and community revitalization. The CDC was charted as an approved State of Texas non-profit corporation, with IRS-approved 501©(3) status. From the beginning the AAMA-CDC has been a stand-alone entity with independent governance and financial responsibility. The AAMA-CDC is not affiliated with AAMA, Inc.