Tuesday
May282019

Cherrydale Place 

Cherrydale Place is an existing 186-unit affordable multifamily community located in Baltimore, Maryland.  Located on 17.67 acres of land, the project consists of 18 three-story garden style buildings.  The community has studio, one-bedroom, two-bedroom, and three-bedroom units restricted to households earning at or below 50% of area median income (AMI).  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $4,876,300 with a 35-year term at a fixed interest rate.

 

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