The Department of Economic Development is tasked with successfully overseeing redevelopment of targeted properties to their highest and best use. Here you’ll find summaries of recent projects. Additionally, the Department of Community Services provides quarterly reports on development activity and pending land use cases, which you can find HERE.
The Landing at Cannon Branch
Buchanan Partners is the City’s master development partner for The Landing at Cannon Branch (formerly Manassas Gateway). The City-owned 40-acre, mixed-use development will include 274 luxury townhomes, 250,000 square feet of Class-A office space, retail space along a large water feature and a Tru by Hilton hotel. The anticipated capital investment is $250 million, and the City expects to realize an estimated $30 million in land sales and $3.5 million in annual local tax revenues. Since 2016, the developer has paid the City $8.8 million in land purchase proceeds and interest and invested $9.1 million in site improvements.
Buchanan Partners’ plans for a 20,000-square-foot office-over-retail project has been approved and construction is underway. The estimated $6 million construction cost includes new site improvements and infrastructure to establish interior roadways, pedestrian improvements, public spaces and landscaping to create the sense of place for the overall project. Buchanan has also begun design of the first 80,000-square-foot Class-A office building at The Landing to comply with the development agreement. Once designed and permitted, the building will enable the developer and the City to more easily and quickly attract new office tenants by speeding the time to market for new construction.
For additional information on The Landing, please visit: https://thelandingatcb.com/
Tru by Hilton
Holladay Properties began construction on a $15 million hotel at The Landing in summer of 2019. The 98-room Tru by Hilton will correct a deficiency in the local lodging market by providing new product in the upper mid-scale hotel classification scale. The City anticipates receiving $350,000 annually in new property and lodging taxes at stabilization.
Stanley Martin Homes
Stanley Martin Custom Homes, a subsidiary of Daiwa House Group, is a premier homebuilder and the residential developer chosen for The Landing. Since 2016, the company has purchased 134 lots from the developer and has sold 96 units with an additional 44 under contract to be sold. Home prices range between $330,000 and $440,000, well in excess of the City’s published median home price of $307,000. All site construction is complete.
Micron Technology Inc.
Micron announced the largest capital investment in modern Virginia history in 2018. The $3 billion capital investment will include roughly $700 million for the construction of two new clean rooms and associated physical plants as well as $2.3 billion in new equipment at the company’s semiconductor manufacturing plant in Manassas. Micron will create at least 1,110 new high-wage jobs and will increase exports from Virginia by more than $1 billion annually. Micron is the City’s largest employer, tax payer and utility customer and the state’s largest exporter. The company currently employs 1,500 and contributes to Manassas having the fourth highest weekly wage in Virginia for professional and technical services. Construction on Phase I began in 2018 and will be completed in 2020, resulting in new tax revenues of $2 million annually on real estate and machinery. The expansion solidifies the company’s future in Manassas and will make the City a worldwide center of excellence for memory and storage solutions primarily focused on the automotive, industrial and networking markets.
“For almost two decades Micron and Manassas have been partners in the manufacturing of semiconductors and community development, as the City was with IBM before them. The significant benefits that the company brings Manassas by virtue of their employment and investment help us make advances in public education, infrastructure development and in maintaining a stable tax rate for all of our citizens,” said Mayor Harry J. Parrish II.