Riverwoods at North East

Riverwoods at North East is a 76-unit family affordable to be built apartment community consisting of four, two & three-story, buildings and community center located in North East, Maryland. The project includes 16 one-bedroom, 40 two-bedroom, and 20 three-bedroom units.  Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $2,159,000 at a fixed interest rate with a 40-year term. Equity of approximately $11,800,000 will be provided through the sale of low-income housing tax credits.