Proposed tax breaks for new housing in Downtown Anchorage headed for Assembly

Downtown Anchorage
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ANCHORAGE (KTUU) - According to recent census data, less than 100 year-round residents live in the stretch of Downtown Anchorage between A and L Streets, an area with some of the highest property values in the city.

Mayor Ethan Berkowitz is looking to change that with a new ordinance to provide a 12-year, 100 percent tax break for new housing developments in the downtown area.

A public hearing will take place Tuesday night at 6 p.m. in the Anchorage Assembly Chambers.

The Anchorage Economic Development Corp. will be there in support of the proposal. AEDC President Bill Popp says his organization's latest housing survey found that 58 percent of Anchorage residents would live in the Downtown/South Addition areas if given the opportunity.

"It's become a constraint on the ability to attract workforce and retain workforce," said Popp. "At night when everybody goes home from work, downtown becomes a bit of a ghost town. Especially late at night, that leads to the ability to commit bad behaviors in downtown. It's because of the lack of resident population."

You can find the full details of ordinance 2019-12 here.

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