OPINION: Development project will bring new energy to downtown Anchorage

It’s not hard to understand why so many tourists start their bucket list trips to Alaska in Anchorage. Rain, snow, or shine, Anchorage offers breathtaking natural beauty, year-round adventures, museums and more. The tourists come to get a taste of what we already know — we are lucky to call Anchorage home.

We also know that a strong, thriving city must have a strong, thriving downtown. And while there are many wonderful and historic spots throughout downtown Anchorage, there is also so much untapped potential.

While the two of us may seem like unlikely partners to some, we share an interest in economic development. And perhaps more personally, we share a passion to make our community a place where our kids should want to live and build their future.

That is why we are working together with like-minded Alaska investors to bring the largest retail/hospitality redevelopment initiative to downtown in 25 years. Phase 1 of our efforts is already underway and includes a full renovation of the Aviator Hotel, which will result in a high-end hotel with 252 rooms and suites, a retail store and coffee shop, a brewery, and a bar and restaurant that will ultimately have a year-round outdoor deck with views of Denali. We are partnering with a major hotel franchise who will be announced once construction is complete. This is a brand that could go anywhere in the world, and they have chosen downtown Anchorage because they agree that this will be an exciting destination for tourists and Alaskans alike.

We expect to operate the property as a limited-service boutique hotel with 75 rooms this fall while we finish construction. We are working to complete all 252 rooms and commercial spaces so they are open and operational by the summer of 2024.

Phase 2 of redevelopment will take place just across C Street from the hotel, at the property commonly referred to as the “Post Office Mall.” We are converting the property into a one-of-a-kind, mixed-use destination. The top floor will feature loft-style condos with outdoor decks and either downtown or mountain views. More housing is a key component to a vibrant downtown.

Below the residences, the second floor will be an open-concept market, bringing together permanent businesses and restaurants as well as pop-ups and rotating vendors. Whether you want to grab fresh fish for dinner, meet friends for a drink or pick up a unique gift, you will be able to find it here. There will also be a 90-seat theater where you can catch the latest film festival or host a special event.

On the first floor, we will bring a long-awaited destination grocery store to downtown Anchorage. We know that a proper grocery store is a missing asset in the development of a more robust downtown housing market and we are excited to fill this gap. This will be a unique and enjoyable shopping experience with high-quality products, great value, and an unbeatable location. We have partnered with ACDA and the municipality to lease the parking lot directly behind the building so customers can enjoy free parking while visiting any of the retail shops at the property.

If you drive down 4th Avenue, you can see these projects are already underway. We have started demolition at the Post Office Mall and are mid-construction at the hotel. These developments are already bringing excitement to downtown Anchorage.

It’s easy to get caught up in negative news these days, and it can be a challenge to get good news covered, even though there is a lot to be optimistic about. We are excited to bring new energy to downtown Anchorage, but folks shouldn’t wait to come eat, shop and enjoy downtown. Whether it’s visiting your favorite restaurant or shop, attending a concert or checking out the Summer Solstice Festival, we hope you will come support and enjoy downtown Anchorage.

Mark Begich is a businessman and former U.S. senator from Alaska; he also formerly served as mayor of Anchorage. Sheldon Fisher is a businessman and former Alaska Department of Revenue commissioner. Begich and Fisher are partners in the redevelopment project that is the subject of this commentary.

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