Hartford Village is an 84 unit new construction community limited to tenants 62 years of age or older, located in in Detroit, Michigan. The property features 64 market rate units and 20 affordable units. Utilizing HUD’s Section 231 New Construction program for insurance advances, AGM obtained a HUD insured mortgage of $11,800,700 at a fixed interest rate with a 40 year term. Secondary sources include $1,000,000 in Wayne County Home Funds, $1,493,000 in Detroit City Home funds and $650,000 in Detroit City Neighborhood Stabilization Program funds.
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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
