Fountains at Tidwell 
Sunday, April 14, 2019 at 5:19PM
Philip Perkins in 2019 Closings, Multi-family, Texas

Fountains at Tidwell is an existing 188-unit mixed-income multifamily community located in Houston, Texas.  Located on 17 acres of land, the project consists of 47 one and two-story garden style buildings, detached garages, swimming pool, and a community/leasing building.  Of the 188 units, 11 are restricted to households earning at or below 30% of area median income (AMI), 61 units are restricted to 50% AMI, 69 are restricted at 60% of AMI, and the remaining 47 units are market rate.  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $10,600,000 with a 35-year term at a fixed interest rate.

 

Article originally appeared on AGM Financial Services: Financing Communities with FHA (http://www.agmfinancial.com/).
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