City of Manassas Park Selects Clark Realty to Develop Its New Downtown
MANASSAS PARK, Va. — The City of Manassas Park announced that Clark Realty Capital, L.L.C., an affiliate of the Clark Construction Group, has been selected to create a mixed-use community on City property adjacent to the Manassas Park Virginia Railway Express (VRE) Station. Named Park Center, the project will provide much-needed retail, commercial, and residential opportunities in one progressive community adjacent to the existing city hall. By selecting Clark Realty Capital, the City brings in a company with expertise in delivering exceptional mixed-use projects.
"Partnering with Clark, one of the best development companies in the nation, ensures that Park Center will be a first-class project that will make a significant positive impact for the City and those who travel through our City," said Mayor Francis C. Jones. "This project will certainly take the City of Manassas Park to the next level."
The Park Center plan features up to 100,000 square feet of retail space, including two restaurants, in-line shops on the first floor of the mixed-use buildings, and a shopping center. The plan also calls for 414 residential units above the in-line retail, creating a commuter-friendly urban environment adjacent to the Manassas Park VRE Station. Mixed-use and transit-oriented communities like Park Center are on the forefront of an innovative national real-estate trend to combat urban sprawl.
"Park Center will be a ground-breaking project, and we are honored to be selected to lead the redevelopment of this property adjacent to the rail station and create an active live/work environment," said Jay Sotos, Clark Realty Capital's managing director for the project. "We envision a mix of uses that will establish a unique identity for Park Center as the new downtown for Manassas Park.
After a highly selective request-for-proposal process, the City of Manassas Park and Clark Realty Capital, L.L.C. of Bethesda, Md., signed an Agreement of Purchase and Sale for the land associated with Park Center. This project encompasses more than 28 acres of property near the City's current City Hall with proximity to two major traffic corridors: Route 28 (Centreville Road) and the VRE Station.
Clark Realty Capital is an award-winning, privately held real estate company actively investing in, developing, and financing major real estate projects across the nation. Clark Realty Capital's developments include mixed-use properties; high-rise and luxury garden-style apartment communities; military family housing; and multi-phase land development. In the past seven years alone, Clark Realty Capital has developed projects worth more than $6 billion.
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About Clark Realty
Clark Realty is a fully integrated national real estate and construction company offering a broad base of services including development, capital markets, construction, investment management, property management, and real estate strategies. Founded in 1906, the Clark organization has become one of the country's premier developers of multifamily housing and the largest privately held general contractor in the nation. The Clark companies are headquartered in Bethesda, Md., with regional offices strategically located throughout the United States.