Education

Alaska Pacific University to develop, lease 65 acres of land

Alaska Pacific University is hoping to develop and lease 65 acres of land on its Midtown Anchorage campus in order to keep tuition costs down and fund scholarships, APU said Friday.

Known as "Endowment Lands," the area surrounding the core campus was designated roughly 20 years ago as property to be used for generating income, according to a press release.

"The future has always been for us in developing these (lands)," APU president Don Bantz said Friday.

APU, a private institution, gets about 20 percent of its annual budget from leasing its land and buildings, Bantz told Alaska Dispatch News in 2013.

"As a small, private university, APU does not receive funds of any kind from the State of Alaska to help finance its programs or operations ... Consequently, tuition, donations, and land sales have been the primary financial basis from which the University has historically operated with the result that APU has never realized a truly robust financial position," the release states.

APU has forged an agreement with development company U-Land, which has exclusive development rights to the property. U-Land must also "work with any parties interested in developing facilities and infrastructure at APU," the release states.

U-Land was founded by Mark Pfeffer, who developed, among other facilities, the Dena'ina Civic and Convention Center, Anchorage City Hall and the new Anchorage legislative office building.

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APU owns 242 acres of land, Pfeffer said. Of those, around 65 acres would be developed, where there is currently "a combination of roads and trails and open space," Pfeffer said.

Instead of selling the land, as APU has done in the past, the university will lease the developed property. The income will be used to keep tuition affordable and to maintain existing scholarships, Bantz said.

The leased land will run along University Lake Drive, Bantz said. APU has been expanding the road to clear the way for the development.

APU is hoping that the professional services offered in the new buildings will be relevant to programs offered at APU, such as health services administration and marine biology. "We'll have the developer present options to us and we'll pick the best ones," Bantz said.

The buildings will have consistent design in order to maintain a campus look, Bantz said, an aspect that was "very important to the board."

The nearby Northern Access Project, which will connect Elmore Road and Bragaw Street, has generated controversy, as Anchorage residents fear it will diminish green space and increase traffic. When asked whether he feared a similar response from the community, Bantz said that "We always worry about what the community thinks."

"We're trying to do our best to develop on the periphery … we all love the trails and ski trails," Bantz said.

Laurel Andrews

Laurel Andrews was a reporter for the Anchorage Daily News, Alaska Dispatch News and Alaska Dispatch. She left the ADN in October 2018.

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