Camellia Commons is a 176-unit new construction market rate multifamily project located in Enterprise, Alabama. Located on 10.0 acres of land along Boll Weevil Circle, the project will consist of eight, three-story garden style apartment buildings and an additional freestanding clubhouse with surface parking. The clubhouse will feature a fitness center, resort style pool, outdoor kitchen with a fireplace, a picnic area, dog park, and playground. Utilizing HUD’s Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $18,336,400 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
