MANASSAS TO PURCHASE HOTEL IN HISTORIC DOWNTOWN

At a special meeting on February 1st the Manassas Economic Development Authority voted to buy the Olde Towne Inn in Historic Downtown for $5.75 million. The Inn was originally constructed in the 1960’s and has been continuously operated as a motel. It is located in the geographic center of the Downtown and sits on an entire city block. The building and property are identified in the City’s Comprehensive Plan as a key development site and have long been discussed as an ideal property for redevelopment. “I’m excited the EDA is able to help our City Council in acquiring this property” said EDA Chairman Gary L. Jones, II. “One of our key functions as an Authority is to support the City through real estate acquisition and disposition. I can’t think of a bigger impact we could have on the continued revitalization of Downtown than this,” he added.

Discussions with the owners of the property about buying the Olde Towne Inn have been taking place for years. Many of those who have expressed interest in buying it were private investors and developers. “Recently our discussions have been about having the owners themselves build a new hotel or facilitating a sale to a third party for that same purpose” said Patrick Small, who is the City’s Economic Development Director. “After a lot of discussion, modeling, and planning the owners decided that they preferred to have the City acquire the property because they felt that the best use of the site would result from a more public process.”

Mayor Michelle Davis-Younger states that “I want to thank the owners for working so closely with us, their confidence in the City’s leadership is uplifting. They recognized that Downtown is the Historic Heart of Manassas and guiding its revitalization and development has long been a priority for City Council. That will always be true and today, in the year of our 150th Anniversary, I’m excited we can start writing a whole new chapter in that history. I’m grateful to have been entrusted with the honor of being Mayor these past two years and cultivating the relationships that were needed to make this a reality for our entire City”.

The EDA has 60 days to conduct due diligence on the site and the right to assign the contract to the City Council which could then complete the purchase. No decisions regarding the continued temporary operation of the property in its current condition or the future use of the site have been made. Mayor Davis-Younger says “I am eager to work with Council and our residents over the next few years to determine the future of this property.”

About the City of Manassas Department of Economic Development

The City of Manassas fosters economic development through collaborative partnerships, sustainable fiscal management and supportive City services. The Department of Economic Development (DED) is directly responsible for business attraction, retention, expansion and tourism initiatives in the City. As a resourceful and collaborative organization, we work in partnership with our key stakeholders to ensure that we have what businesses need; including a highly educated and technical workforce with access to major universities and first-class training providers. We take an active leadership role in all that we do, serving as a community builder, collaborator and agent of economic growth. For help with your business needs please visit: https://choosemanassas.org/ or call 703.257.8882