The Oceania Times

Top Menu

  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Main Menu

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

logo

The Oceania Times

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • Asian shares fall as investors brace for inflation report

  • A-Mark Precious Metals (NASDAQ:AMRK) vs. Maison Luxe (OTCMKTS:MASN) Head-To-Head Comparison

  • Stock Market LIVE: Indices flat; Nifty below 17,500; IT, Media drag

  • The big change coming to Australian inflation after Reserve Bank governor Philip Lowe laughed at

  • South Korean won, Philippines peso lead losses among subdued Asian currencies

Investment
Home›Investment›New investment will transform downtown Anchorage

New investment will transform downtown Anchorage

By Megan
May 27, 2022
17
0
Share:

Downtown Anchorage and its surrounding neighborhoods, photographed on Saturday, May 14, 2022. (Emily Mesner / ADN)

The first groups of tourists have arrived downtown in Anchorage. Soon, downtown will also boast flower baskets, bands at lunch time and reindeer hot dog stands, too. All of these things are a welcome sight after a long winter and another socializing season stymied by the pandemic.

Along with flowers, orange cones and cranes are popping up as the construction season begins.

For people like us who are lucky enough to be downtown on a daily basis, we have already been able to witness the dramatic change at 601 W 5th Avenue, otherwise known to locals as the “Old Key Bank Building.”

Shimmery glass panels and the use of angles are transforming the building that was stripped down to its frame after the 2018 earthquake, into a dazzling structure that will, no doubt, provide stunning views and modern office space when complete.

This much-needed, massive undertaking is only a piece of the bigger vision for the block, called “Block 41,” encompassing several other buildings including the old 4th Avenue Theater. The proposed project, covering most of the block, will also bring new retail, residential, hotel and parking to the heart of downtown. This is an exciting project and is the biggest private investment in downtown in decades.

Over recent years, hundreds of thousands of dollars have been spent to conduct risk assessment for things like lead, asbestos and seismic issues in the former theater and other nearby buildings that have proven too great to overcome. It is sad to lose these buildings in their current form, but we are encouraged to see the developers making great effort to preserve the historical nature of the 4th Avenue Theater and other buildings by rebuilding the façade with new, modern materials, reconstruction of the marquee sign into a new, safe, more tech advanced iconic sign and careful handling of the interior murals will be removed, stored and reinstalled in the new building.

The current owners have called in national experts to document, protect and preserve the art inside the old 4th Avenue building and consulted with professionals on rebuilding the façade and marquee we know and love in order to keep the character of the area intact. We applaud this effort.

Along with the Block 41, other investments are gaining momentum too.

Have you been by 7th Avenue and K Street lately? Check out the new downtown location of Fire Island Bakery, That Feeling Co. and La Bodega. Together, these small businesses repurposed a former clinic to form the “K Street Market” and have been doing business since earlier this winter.

We all await the new 4th Avenue “Whisky & Ramen” scheduled to open in June and so much more.

Earlier this year, the Anchorage Community Development Authority (ACDA) announced an agreement with 6th Avenue Center, LLC to build a 156-room boutique hotel, combined with 32 apartments, on the current transit center site. The project is estimated to bring $60 million to $65 million dollars of investment into Anchorage, create as many as 160 jobs during the construction phase, and generate millions of dollars in new lodging and property tax revenues.

In addition, the development authority recently announced a private-public partnership at the corner of 8th Avenue and K Street downtown with Debenham Properties, who will build the first market-rate, multi-use housing in west downtown in 40 years. The project will include 44 units consisting of studios and one-bedroom apartments. The project, also referred to as “Block 96,″ is estimated to be a $11.6 million investment.

New, modern, townhomes called Downtown Edge North, have been built and sold by the Petersen Group in an area overlooking the Alaska Railroad, Cook Inlet and Mt. Susitna. This new development provides housing downtown for people interested in walking to shops, restaurants and entertainment and easy access to our urban Moose Loop paved trail system.

As leaders of organizations that work to promote Anchorage, we do what it takes to encourage investment, welcome visitors and activate every part of our city right now especially downtown. We are all excited to enjoy the businesses that made it through the pandemic, try out the new places, and to witness the transformation long needed in the heart of downtown.

This summer, we hope everyone brings their houseguests and families downtown for shopping, dining, events and some of the many activities planned. If you get slowed down by a construction worker or have to walk the long way around a block – smile, wave and be encouraged. We are making progress.

This commentary was jointly authored by the Roadmap to a Vital Safe Anchorage (RVSA) leadership team: Bruce Bustamante, Anchorage Chamber of Commerce; Michael Fredericks, interim executive director, Anchorage Downtown Partnership, Ltd.; Debbie Rinckey, Chugiak Eagle River Chamber of Commerce; Julie Saupe, Visit Anchorage; Silvia Villamides, Alaska Hospitality Retailers; and Bill Popp, Anchorage Economic Development Corporation.

The views expressed here are the writer’s and are not necessarily endorsed by the Anchorage Daily News, which welcomes a broad range of viewpoints. To submit a piece for consideration, email commentary(at)adn.com. Send submissions shorter than 200 words to letters@adn.com or click here to submit via any web browser. Read our full guidelines for letters and commentaries here.

Source link

Previous Article

Q1 2022 Operating and Financial Results

Next Article

Wall St. Week Ahead: Stock rally fanned ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Megan

Related articles More from author

  • Investment

    Studies show investment in public health can prevent foodborne illness outbreaks

    June 12, 2022
    By Megan
  • Investment

    CapitaLand Investment acquires 22-storey office tower in Melbourne’s CBD

    June 7, 2022
    By Megan
  • Investment

    Crypto Power Usage Is Helping To Spur Renewable Energy Investments

    June 5, 2022
    By Megan
  • Investment

    Big Tobacco’s Investment in Juul Is Going Up in Vapor

    June 22, 2022
    By Megan
  • Investment

    Saratoga Investment (NYSE:SAR) Rating Lowered to Sell at StockNews.com

    June 30, 2022
    By Megan
  • Investment

    Investment Opportunities Abound, Nuveen Panelists Say

    June 23, 2022
    By Megan

Leave a reply Cancel reply

You may interested

  • Stock Shares

    Johnson & Johnson (NYSE:JNJ) Shares Sold by Aevitas Wealth Management Inc.

  • Currencies

    Time to think about UK currency risk?

  • Brokers

    Top insurance brokers, No. 4: Arthur J. Gallagher & Co.

  • LATEST REVIEWS

  • TOP REVIEWS

Timeline

  • August 10, 2022

    Asian shares fall as investors brace for inflation report

  • August 10, 2022

    A-Mark Precious Metals (NASDAQ:AMRK) vs. Maison Luxe (OTCMKTS:MASN) Head-To-Head Comparison

  • August 10, 2022

    Stock Market LIVE: Indices flat; Nifty below 17,500; IT, Media drag

  • August 10, 2022

    The big change coming to Australian inflation after Reserve Bank governor Philip Lowe laughed at

  • August 10, 2022

    South Korean won, Philippines peso lead losses among subdued Asian currencies

Best Reviews

Latest News

Stock Shares

Asian shares fall as investors brace for inflation report

People walk past a screen displaying the Hang Seng stock index outside Hong Kong Exchanges, in Hong Kong, China July 19, 2022. REUTERS/Lam Yik Register now for FREE unlimited access ...
  • A-Mark Precious Metals (NASDAQ:AMRK) vs. Maison Luxe (OTCMKTS:MASN) Head-To-Head Comparison

    By Megan
    August 10, 2022
  • Stock Market LIVE: Indices flat; Nifty below 17,500; IT, Media drag

    By Megan
    August 10, 2022
  • The big change coming to Australian inflation after Reserve Bank governor Philip Lowe laughed at

    By Megan
    August 10, 2022
  • South Korean won, Philippines peso lead losses among subdued Asian currencies

    By Megan
    August 10, 2022
  • Recent

  • Popular

  • Comments

  • Asian shares fall as investors brace for inflation report

    By Megan
    August 10, 2022
  • A-Mark Precious Metals (NASDAQ:AMRK) vs. Maison Luxe (OTCMKTS:MASN) Head-To-Head Comparison

    By Megan
    August 10, 2022
  • Stock Market LIVE: Indices flat; Nifty below 17,500; IT, Media drag

    By Megan
    August 10, 2022
  • The big change coming to Australian inflation after Reserve Bank governor Philip Lowe laughed at

    By Megan
    August 10, 2022
  • Asian shares fall as investors brace for inflation report

    By Megan
    August 10, 2022
  • Australian economy survived Covid better than most but recovery could slow, OECD says | Australian ...

    By Megan
    September 14, 2021
  • The Best Online Brokers, According to 5 Financial Experts

    By Megan
    September 14, 2021
  • Is Disaster Looming for Australia’s Economy?

    By Megan
    September 29, 2021

Trending News

  • Stock Shares

    Asian shares fall as investors brace for inflation report

    People walk past a screen displaying the Hang Seng stock index outside Hong Kong Exchanges, in Hong Kong, China July 19, 2022. REUTERS/Lam Yik Register now for FREE unlimited access ...
  • Gold and Precious Metals

    A-Mark Precious Metals (NASDAQ:AMRK) vs. Maison Luxe (OTCMKTS:MASN) Head-To-Head Comparison

    A-Mark Precious Metals (NASDAQ:AMRK – Get Rating) and Maison Luxe (OTCMKTS:MASN – Get Rating) are both small-cap consumer discretionary companies, but which is the superior business? We will compare the ...
  • Stock Shares

    Stock Market LIVE: Indices flat; Nifty below 17,500; IT, Media drag

    Asian markets started on a negative note following a retreat in Wall Street. This was mostly due to the caution ahead of US inflation data that will shape nvestor expectations ...
  • Australian Economy

    The big change coming to Australian inflation after Reserve Bank governor Philip Lowe laughed at

    How Reserve Bank boss getting LAUGHED at on the world stage will radically change Australia’s economy The Australian Bureau of Statistics is trialing a new monthly inflation data series Reserve ...
  • Currencies

    South Korean won, Philippines peso lead losses among subdued Asian currencies

    BENGALURU (Aug 10): Most Asian currencies were subdued on Wednesday, while most stock markets in the region fell, tracking losses on Wall Street, as investors awaited US inflation data later ...
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© Copyright The Oceania Times. All rights reserved.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.