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.
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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.
