New Affordable Housing Project in Capitol Heights Begins Construction

PRESS RELEASE

For Immediate Release: December 20, 2024

For more information, contact: Alexis Revis Yeoman
Public Information Officer
Department of Housing and Community Development
(301) 456-4369
aryeoman@co.pg.md.us

 

New Affordable Housing Project in Capitol Heights Begins Construction

 

Largo, MD --- The Prince George’s County Department of Housing and Community Development (DHCD) is pleased to announce the beginning of construction for The Cassidy, a new multi-family affordable housing complex. This transformative project will provide critical housing opportunities to families earning at or below 60% of the area median income (AMI), helping to address the growing need for affordable housing within the County.

The Cassidy will be a 175-unit apartment community, located on a 13.1-acre site at 1200 Karen Boulevard in Capitol Heights. It will consist of three, 4-story apartment buildings and a one-story community building, with a mix of one-, two- and three-bedroom units. Seven units will be reserved for participants in the Prince George’s County Fostering Youth Independence Initiative and 3 units reserved for families/individuals who are homeless or at risk of homelessness.

DHCD contributed $1 million, $50,000 in HOME-ARP funds and $3.5 million in Housing Investment Trust Funds. The Housing Authority of Prince George’s County (HAPGC) issued $41.4 million in Multifamily Housing tax-exempt bonds. The County Council also approved a Payment in Lieu of Taxes (PILOT). 

"We are excited to celebrate this milestone and our commitment to creating equitable housing opportunities in Prince George's County," said Jessica Anderson-Preston, Executive Director of the Housing Authority of Prince George's County. "The issuance of $41.4 million in Multifamily Housing Revenue Bonds for The Cassidy demonstrates our ongoing dedication to supporting projects that make a tangible difference in the lives of our residents. This development will not only provide much-needed affordable housing but will also contribute to the economic and social growth of Capitol Heights and beyond."

The Cassidy will feature modern amenities and community spaces, ensuring families have access to the comfort, stability, and dignity they deserve. With leasing reserved for households at or below 60% of AMI, this project is a cornerstone in addressing housing affordability challenges while promoting inclusive development within Prince George's County. The affordability restrictions will remain in place for 40 years.  

“The Cassidy represents a significant investment in the future of Prince George's County, offering high-quality, safe, and affordable homes to working families,” said Aspasia Xypolia, Director of the Department of Housing and Community Development. “Strategically located in Capitol Heights, this development aligns with the County’s mission to expand access to affordable housing while fostering vibrant, sustainable communities for current and future residents.”

DHCD and HAPGC extend its gratitude to the project partners, developers, and financial institutions that have made this milestone possible. This collaborative effort underscores the County’s on-going commitment to improving housing accessibility and quality of life for its residents.

The Cassidy is projected to be completed by April 2027.

 Photo Caption: A rendering of The Cassidy

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