Addison Row is a 321-unit new construction Class A market rate multifamily project located in Capitol Heights, Maryland. Located on 10.63 acres of land, the community is approximately one mile from both the Cheverly and Deanwood Metro stations along the WMATA Metro Orange Line. The project will consist of two, four-story elevator-serviced buildings with 518 surface parking spaces. The community will include high-end unit finishes, a clubroom, fitness room, kitchenette, outdoor splash park, dog washing station, and business office. Utilizing HUD’s Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $67,407,100 at a fixed interest rate with a 40-year term.
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FHA Proposals on New MIP Premiums and Eliminating Green MIP
Late yesterday, HUD announced important proposed changes in mortgage insurance premiums (MIP) for FHA-insured multifamily loans. In a notice to be published in the Federal
