Provided by City of Manassas
Today, representatives from the City of Manassas and Buchanan Partners, a full service real estate development firm operating in the Washington, D.C. metro area, came together to break ground on The Landing at Cannon Branch. The two entities have formed a public-private partnership to develop the city’s only waterfront property, commonly known as Gateway property and located just off of Prince William Parkway, in a way that will spur community engagement and economic growth.
“Over the past two decades the City of Manassas has patiently marketed the property at Gateway seeking the best project and development partner to realize our vision of a special place where residents and businesses can benefit from, and contribute to, our great community,” said Mayor of Manassas, Hal Parrish. “City Council has found that opportunity and we are excited to be here today, celebrating the groundbreaking with Buchanan Partners on The Landing at Cannon Branch, a premier mixed use development in Northern Virginia.”
The Landing at Cannon Branch property—40 acres located on Gateway Drive, between Prince William Parkway/Route 234 Bypass and the Manassas DMV—is to be transformed into a space for retail, offices, restaurants, hotels, and over 270 new homes. The project will be developed in phases, with the initial phases already underway.
Last week, the city sold the first nine acres of residential property to Buchanan Partners for $6 million. These proceeds will be reinvested in the community and over the next six months, Buchanan Partners will prepare the site and install the utilities that will make residential and commercial construction possible. Additionally, Buchanan Partners is aggressively pursuing Heritage Brewing to bring them on as an anchor tenant for their new brewery and restaurant, and the City currently has a parcel under contract to a hotel developer.
“We are proud to partner with the City of Manassas on this project and look forward to working collectively to create a space where members of the community can come to live, work, and play,” said Brian Benninghoff of Buchanan Partners. “This type of mix-land use development is what people are looking for and will make a real economic impact on the city and region.”
The Landing at Cannon Branch project is expected to generate more than $250 million in new investment, nearly $20 million in land sale proceeds for the City of Manassas, and $3 million in real estate taxes down the line. In addition, the new development is expected to generate jobs and tie into local businesses at the Manassas Regional Airport and Innovation Park.