County Preserves 288 Affordable Housing Units Along the Purple Line Corridor

PRESS RELEASE

For Immediate Release: November 20, 2025

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

 

County Preserves 288 Affordable Housing Units Along the Purple Line Corridor

Department of Housing and Community Development Uses Right of First Refusal Program to Keep Housing Affordable   

Largo, MD --- The Prince George’s County Department of Housing and Community Development (DHCD) exercised its Right of First Refusal (ROFR) on Plaza Towers Apartments, a 288-unit multi-family apartment building, located at 6700 Belcrest Road, Hyattsville, Maryland to keep the units in this complex affordable. According to County Resolution CR-51-2015, the County can exercise its Right of First Refusal (ROFR) where the owner of a multi-family rental facility of 20 or more units intends to sell the building.  DHCD has the authority to purchase the property or assign its rights to purchase the property to a third-party, in an effort to stabilize, preserve, and expand housing opportunities for low- and moderate-income households and to increase the availability of quality affordable rental housing in designated areas of the County. Property Owners and prospective buyers may request that DHCD approve an exception to the County’s ROFR in accordance with Section 13-1114 of the Code. 

“We believe this is a bold step and the right step to expand affordable housing opportunities in Prince George’s County,” said County Executive Aisha N. Braveboy. “Our strategic use of the Right of First Refusal at Plaza Towers Apartments is a clear demonstration of our unwavering commitment to equitable and inclusive economic growth. The ROFR is a tool that allows us to preserve and protect existing affordable housing while ensuring that residents have access to high-quality, safe, and stable homes like Plaza Towers - particularly in thriving, transit-oriented communities like the Purple Line Corridor like Plaza Towers which is within a mile of a Metro Rail station and future Purple Line stations.”

“This acquisition is a major win for Prince George’s County residents,” said Jonathan R. Butler, Director for Department of Housing and Community Development for Prince George’s County. “Our agency fully leveraged the Right of First Refusal Exception tool and worked closely with mission-driven partners, thereby safeguarding housing affordability and neighborhood stability for decades to come.”

Prince George’s County granted an exception to Horning, the developer of Plaza Towers, and invested a $3 million ROFR Preservation Fund Loan and a 30-year term County tax deferral in the form of a Payment in Lieu of Taxes (PILOT).  Horning will designate 100% of the 288 units as affordable and stabilize rent growth for at least 30 years.  Planned improvements at Plaza Towers will total approximately $2.82 million (approximately $9,800 per unit) phased in over several years.  The scope of the work will be determined based on the final Capital Needs Assessment, and is anticipated to include HVAC, plumbing, and structural improvements as well as accessibility improvements to the parking lot and walkways.

This ROFR agreement furthers the mission of DHCD to preserve or create affordable homes, prevent displacement, advance racial and housing equity, and open greater opportunity for individuals, families, and communities.

Since 2021, the ROFR program has preserved 2,565 units of affordable housing, particularly in high growth and transit-oriented areas.

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