Guilford Gardens is a 269 unit apartment community to be built in Columbia Maryland. Using HUD’s Section 221 New Construction program for insurance advances, AGM obtained an insured mortgage of $25,900,000 with a 40-year term. The project involves the relocation of Section 8 residents to new buildings and demolition of the existing buildings. The community will consist of one elevator building with 45 units restricted to elderly families with one member age 62 or older. The remaining units will be walk-up garden style for families. The community will also contain a freestanding clubhouse with community space, computer lab and exercise facility. Outside amenities will include pool, volleyball court, putting green and walking path.
