Glenmont Metrocenter Apartments is a 254-unit new construction market rate multifamily project located in the Glenmont area of Silver Spring, Maryland. Located on 3.4 acres of land adjacent to the Washington D.C. Metro Glenmont station, the project will consist of one, four-story elevator-serviced building with structured parking and two courtyard areas. The community will include high-end unit finishes, a swimming pool, barbeque area, business center, fitness facility, movie room, and bicycle lockers. Utilizing HUD’s Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $57,488,000 at a fixed interest rate with a 40-year term.
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February Pulse Check: Despite the Headlines, with FHA You Can Fix Your Rate & Forget It
The change in Administration brought with it a flood of news about agency closings, furloughs, buyouts, and the like. It’s been tough to keep up.
