ANCHORAGE (KTUU) - There will soon be more condos available for purchase in the downtown Anchorage area. The cost for each unit will be upwards of $450,000 and developers expect them to be available for move-in nearly a year from now.
"We kind of have a slogan for our project. It's eat well, have fun, and be fit, because within 10 minutes of this location, you can walk and do all of those things," said Bob Peterson of Ship Creek Development LLC. "You can go to the nice restaurants and go to the museum in about 10 minutes."
Petersen says changes made by the legislature in recent years allowed the railroad to lease land out for 95-year terms, making the residential development possible.
The "Downtown Edge" project began development Wednesday with the demolition of an older warehouse structure at the corner of West 2nd Avenue and Christensen Drive in Ship Creek. Petersen says there will be 35 units available when construction is completed.
"There's a number of people who would love to move into a project like this and be close to downtown Anchorage where they work or play this site here is where homeless people camped," Petersen said.
According to Downtown Development Project Executive Director James Boring, the importance of housing development has been talked about for many years, and Downtown Edge is the first of its kind in size, shape, and color to happen in the downtown Anchorage area.
"It's really going to bring that live, work, play, strategy to downtown because now we're adding the people that are living downtown," Boring said. "So it just sits great for what plans are for the downtown court."