Heritage Forest is a 3-story 144-unit affordable apartment community to be built in Newport News, VA. Using HUD’s Section 221(d)(4) New Construction program for insured advances, AGM obtained a mortgage of $9,933,500 with a 40-year term. Additional funding was provided through the sale of Low Income Housing Tax Credits. The project includes 18 one-bedroom, 96 two-bedroom, and 30 three-bedroom units.
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