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May262018

One Cardinal Way 

One Cardinal Way is a 297-unit new construction market rate multifamily project located in St. Louis, Missouri.  Located on 1.03 acres of land, the project will consist of one, 29-story residential apartment building and include approximately 10,000 square feet of retail space.  One Cardinal Way will encompass high quality finishes and an amenity package including on-site leasing, outdoor pool, party deck with views of Busch Stadium, and amenity integration with the St. Louis Cardinals Baseball brand.  Utilizing HUD's Section 220 New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $85,000,000 at a fixed interest rate with a 40-year term.  Additional sources included a $35,000,000 subsidy from the City of St. Louis.

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