Economic consultants say downtown leasing is picking up as EDA names new bank signatories

Economic consultants Stephanie Reynolds and Quentin Reynolds told the Manassas Park Economic Development Authority on May 6 that leasing activity in the Park 170 downtown complex has accelerated and that a planned movie theater is serving as a key anchor for additional retail and restaurant tenants.

Quentin Reynolds, an economic development consultant with HGIS, said the downtown is drawing multiple weekly site tours and a growing mix of tenants. “We’re anticipating 400,000 people per year” at the planned B&B Theaters, he said, adding that the theater and other anchors are increasing demand for nearby restaurant and retail spaces.

The consultants recounted tenants now open or under build-out in Building A and Building B, including a bank branch, a kebab restaurant, coffee and dessert shops, a nail spa and new restauranteurs taking suites previously planned for other concepts. They said rents in those spaces have risen from about $16 per square foot when leasing began to roughly $25 per square foot now and projected they could reach $35–$40/sf after the theater opens.

Stephanie Reynolds, who identified herself as with HGIS, described the consultant team’s strategy of attracting a mix of eating and nonfood tenants and of protecting the downtown’s variety by avoiding direct competition in menu types. She said some nonfood tenants — for example a home health care group and dental providers — have also shown interest in Building B and that the consultants are negotiating letters of intent for a roughly 6,000-square-foot grocer-style market for part of that space.

Consultants outlined parking and circulation changes tied to the downtown plan. They said the developer is building a 150-space surface parking lot adjacent to Building B and that the downtown will include angled parking that will add about a dozen curbside spaces; the consultants noted a downtown-designated 148-space garage behind the theater building. They also described planned pedestrian safety improvements, including HAWK pedestrian signals at key crosswalks.

The EDA approved a related administrative item earlier in the meeting: finance staff explained the need to update the authority’s bank signers at Atlantic Union Bank and the Chair read a resolution that “appoints Loana Bryant [chairman] and Joshua O'Neil [treasurer] as signatory authority for the disbursement of EDA funds through account number ending in 609.” A motion to approve the resolution was moved and seconded and the board approved it with no nays recorded.

Board members asked about parking impacts for existing downtown businesses and whether sidewalk space used for outdoor dining would be reduced to create angled parking. The consultants acknowledged trade-offs and said the angled parking will narrow some sidewalk areas — at its narrowest the sidewalk could be about five feet wide in places near the bank — while preserving outdoor dining on other stretches.

The consultants also discussed broader grocery-store efforts for the city, noting prior outreach to national and regional grocers and the city-funded market study that supported a smaller-format grocer concept for part of Park 170. They cautioned the board that landlords will weigh experience and long-term lease terms when approving tenants.

The EDA did not take further formal policy action on the consultants’ recommendations at the meeting; staff said they will continue to coordinate parking, signage and permitting work with the city manager and event coordinator as the downtown build-out progresses.

The Authority adjourned following the director’s report and a brief member request about commercial-vehicle parking enforcement.