Bladensburg Commons

Bladensburg Commons is a 100 unit affordable new construction community located in Bladensburg, Maryland. Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $4,920,000 at a fixed interest rate with a 40-year term. Equity of approximately $14,548,000 was provided through the sale of 9% low income housing tax credits. Additional sources include $1,625,000 in Rental Housing Production funds from the State of Maryland and $3,000,000 in HOME funds from Prince George’s County.