Crescent Properties is a 282-unit existing scattered site rental community located in Winder, Barrow County, Georgia. The project consists of six separate communities that have been combined into one mortgage. Under HUD’s Rental Assistance Demonstration (RAD) program, the property converted its existing public housing subsidies into a long-term Section 8 contract. Utilizing HUD’s Section 221d4 program for insurance advances, AGM successfully obtained a HUD-insured mortgage of $9,800,000 for the project’s substantial rehabilitation with a fixed interest rate and a 40-year term.
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When the ball stops rolling…
The way to catch a knuckleball is to wait until it stops rolling and then pick it up. – Bob Uecker In baseball, the knuckleball
