Waverley View is a 240-unit affordable multi-family new construction community located in Frederick, Maryland. Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD insured mortgage of $35,500,000 at a fixed interest rate with a 40-year term. Maryland’s Department of Housing and Community Development (DHCD) issued tax-exempt bonds in the amount of $24,000,000. Equity of approximately $13,075,000 was provided through the sale of 4% low-income housing tax credits (LIHTC).
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