Anchorage, AK – June 13, 2018
On June 12, 2018, the Anchorage Assembly approved Anchorage Community Development Authority’s (ACDA) $14 million purchase of the 716 W 4th Avenue property in downtown Anchorage. The 60,000+ square foot building also includes a parking lot and underground parking structure that ACDA has been managing since 2009.
“ACDA has a strong commitment to downtown Anchorage and this purchase will eliminate a 2+ year vacant building in the heart of the city,” said Andrew Halcro, Executive Director of ACDA. “The ACDA Board of Directors supported the purchase because it’s good for ACDA, good for the community and good for public safety,”
The Anchorage Assembly also approved ACDA’s mission update to meet the requirements of future bonding as well as the financing terms for the property purchase. It is expected that ACDA will close in early August 2018.
ACDA’s Board of Directors recently approved a letter of intent to lease the building to the Anchorage Police Department.
For more information about ACDA’s past and future development projects, visit www.acda.net.
Anchorage Community Development Authority
Founded in 1984, the Anchorage Community Development Authority (ACDA) is a public corporate authority for the Municipality of Anchorage. ACDA’s mission is to facilitate development and public parking for a vibrant community.