Adams Crossing II

Adams Crossing II is a 72-unit affordable multi-family new construction community located in Waldorf, Maryland. The first phase of the project (Adams Crossing I) consisted of 192 affordable units. Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD insured mortgage of $11,964,800 at a fixed interest rate with a 40-year term. Maryland’s Department of Housing and Community Development (DHCD) issued tax-exempt bonds in the amount of $8,250,000. Equity of approximately $4,292,000 was provided through the sale of 4% low-income housing tax credits (LIHTC).