Saturday
May262018

The Vinings at Christiana

The Vinings at Christiana is an existing 220-unit mixed-income multifamily apartment community located in Newark, Delaware.  The project is located on 15.38 acres of land and consists of ten, two and three-story garden apartment buildings and a separate clubhouse building which includes a fitness center and community room.  The units at The Vinings at Christiana consist of market rate rentals as well as units restricted to tenants earning at or below 60% of area median income (AMI).  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $14,000,000 with a 35-year term at a fixed interest rate.

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