Monticello Station

Monticello Station

Monticello Station is a 121-unit mixed use community located in Norfolk, Virginia.  The project includes 43 one-bedrooms, 63 two-bedrooms, 13 three-bedrooms and 2 four-bedrooms. This four-story elevator building includes such amenities as two open courtyards with gas grills, fire pit, and a pool. The project was built in 2010 using the HUD Section 221(d)(4) program.  Using the HUD Interest Rate Reduction program for currently insured properties, AGM reduced the interest rate with a new mortgage of $33,543,968 and increased cash flow.