Greens at English Consul

Greens at English Consul is a 90-unit senior apartment building to be built in Lansdowne, Maryland. Using HUD’s Section 231 New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $5,368,000 at a fixed interest rate with a 40-year term. The loan will be funded pursuant to HUD’s program for insured advances using  short-term tax-exempt bonds with taxable GNMAs, the sale of 4% Low Income Housing Tax Credits, a PILOT, a Rental Housing Works loan, a Partnership Rental Housing loan, a HOME loan, a FHLB loan, and an Empower Maryland loan. The project includes 72 one-bedroom units and 18 two-bedroom units.