The Presidio is a 250-unit new construction market rate multifamily project located in Charlottesville, Virginia. Located on 20.42 acres, The Presidio will consist of a combination of three-story garden style and four-story elevator serviced buildings and a freestanding clubhouse. Residents will have access to amenities including a lounge, cyber café, fitness center, yoga studio, swimming pool, outdoor grilling station, and fire pit area. Utilizing HUD’s Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $55,257,400 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.
