A long-planned apartment project a short walk from the Capitol Heights Metro took a big step this month, and the paperwork behind it says a lot about what it costs to build right now.
Prince George's County Council resolution CR-089-2026 would approve up to $20 million in multifamily housing revenue bonds from the Housing Authority of Prince George's County, plus support for state Low-Income Housing Tax Credits, for 210 On the Park at 210 Maryland Park Drive. The council's Planning, Housing and Economic Development Committee voted 4-0 in favor on Oct. 1, according to the county's legislative record, and the resolution went to the full council on Oct. 13.
A transcript-based summary of that Oct. 13 meeting video, posted by the site Open Publica, says the council adopted the resolution 8-0. As of Oct. 18, the county's own legislative page had not yet posted the final action.
What's planned
The resolution describes new construction of 158 mixed-use, mixed-income rental apartments on a 3.78-acre parcel, in a mix of one- and two-bedroom units. The owner is 210 MPD Partners LLC. The county's documents list Smith & Henzy Affordable Group and Community First Development Corp. as developers.
According to the county's fiscal and policy note, 121 apartments will be restricted to households at or below 60% of area median income, and another seven are planned for young people aging out of foster care earning no more than 40% of AMI. That's 128 restricted units, with rents held down for at least 50 years.
Some numbers in the file don't match, so here's how to read them. The council's agenda summary describes "158 multifamily rental units and 14 townhomes" and says roughly 75% of the apartments will be affordable. The resolution itself, the fiscal note and the committee report describe only the 158 apartments and never mention townhomes. One project information sheet lists 144 units at 60% of AMI and 30 market-rate units, which adds up to 174. We're going with the 158 apartments and 128 restricted units that appear in the resolution and fiscal note.
The commercial space is described two ways, too: 9,200 square feet of ground-floor community and retail space in the summary, and about 8,000 square feet of first-floor retail with seven live/work units for small businesses such as artists in the project description.
Apartments will have stainless steel appliances, vinyl plank tile and in-unit washers and dryers. Plans include a 3,500-square-foot community room with a kitchen, a fitness center and a Wi-Fi lounge, with energy-efficient appliances, fixtures, HVAC, windows, insulation and roof. The summary also cites corporate investment from Amazon.
A $17 million cost jump
The most telling part of the file is the budget. Total cost is now estimated at $76,970,061. The original version of the project was expected to cost about $60.2 million, according to the fiscal note.
The fiscal note lists "repeated increases in interest rates which constrained loan proceeds; substantial increases in construction materials and labor; and updated stormwater and floodplain regulatory requirements, which expanded infrastructure needs." According to the note, the project also shifted in late 2025 from a workforce housing deal to a 4% tax credit structure, partly because tax credit equity pricing fell over the past 12 to 18 months.
The resolution calls for about $28.7 million in federal tax credits. The housing authority's bonds would fund construction draws monthly and later serve as permanent financing through a tax-exempt Freddie Mac loan. A $3 million county Housing Investment Trust Fund grant approved in 2023 remains committed, and the original plan included a 50-year county payment-in-lieu-of-taxes agreement valued at about $19.4 million.
Council Member Krystal Oriadha, whose District 7 includes the site, said at the committee meeting that she was enthusiastic about projects like this one, particularly near Metro stations, in an area that has historically not seen that kind of growth.
No general contractor or construction start date appears in the county's documents.
Why it matters for Contractors
A $77 million, 158-unit mixed-use building is a full-scale job for site, utility, concrete, framing or structural, roofing, MEP, drywall and finish contractors, plus a ground-floor retail and live/work fit-out. The budget history is a warning worth reading closely: the county itself pinned a $17 million cost increase on interest rates, materials and labor, and new stormwater and floodplain rules. Site and civil contractors should expect the stormwater and floodplain scope to be a meaningful piece of this job. Once the bonds and tax credits close, Smith & Henzy and Community First will be picking a builder, so this is the time to get in touch.