Mezzo Apartments is a 282-unit new construction market rate multifamily community located in Virginia Beach, Virginia. The property is 16.12 acres and will consist of 10, three-story walkup apartment buildings and a separate clubhouse. The community will feature a resort style pool, bathhouse, playground, fitness center, community room, and business center. Utilizing HUD’s Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $43,460,800 at a fixed interest rate with a 40-year term.
Blog Articles
FHA Proposals on New MIP Premiums and Eliminating Green MIP
Late yesterday, HUD announced important proposed changes in mortgage insurance premiums (MIP) for FHA-insured multifamily loans. In a notice to be published in the Federal
