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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There are Encouraging Signs, But No Clear Direction…Yet
Long-term rates have been rising since their recent lows in September. The bond market is reacting to uncertainty – uncertainty about inflation, jobs, tariffs, tax
