South Alex®

South Alex® is a 400-unit new construction market rate multifamily project located in Alexandria, Virginia.  Located on 6.7 acres of land, the project will consist of one, four-story U-shaped building with a partial fifth floor and attached parking garage.  It will contain approximately 42,000 square feet of ground floor retail space including an anchor grocery store.  South Alex® will encompass high quality finishes and an amenity package including a lounge and clubroom with coffee bar, heated saltwater pool, fitness center, bike storage, fire pit, grill station, and outdoor dining area.  Utilizing HUD’s Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $98,931,100 at a fixed interest rate with a 40-year term.