Residents have been caring for the green space that's inside the loop. Houston Mayor Bill White says it was scheduled to be sold.
"It was not on the parks master planned. We responded quickly and I think appropriately in an opportunity to save this green space."
15 acres of the park are permanently saved, but five acres are being used as collateral for the loan that was taken out to buy the land. Lorraine Cherry is president of the Friends of the West 11th Street Park.
"If we lose that five acres, we lost an historic little league ball field. We lose a wildflower park we've been developing and working on for almost five years and we lose a lot of the ambience of the park."
Cherry says the roughly $3 million needs to be raised by August. Capella Tucker, Houston Public Radio News.