Downtown development brings 100% market rate apartments
Anchorage Community Development (ACDA) announces a historic private public partnership with Debenham Properties to construct Block 96 Flats a new downtown housing community. The development brings the first 100% market rate apartment community to the Park Strip North district of downtown Anchorage in over 40 years.
“Debenham Properties is excited to partner with ACDA to bring downtown living to Anchorage,” said Shaun Debenham owner of Debenham Properties.
Located at the corner of 8th Avenue and K Street, Block 96 Flats will host 44 units of studio and one bedroom units with rental prices ranging from $1,100 to $1,500 per month. The total cost of the project will be $6.2 million with ACDA investing $1.8 million for the construction of structured parking. The development will create sixty construction jobs and two full time positions when it is completed.
“Having a vibrant population living downtown means restaurants stay open later, small businesses have more foot traffic and the streets stay alive after five” according to Andrew Halcro Executive Director of ACDA. “Beyond the immediate benefits of Block 96 Flats, we believe ACDA has finally solved the economic equation for getting more new housing built downtown,” he added.
The development will include vaulted ceilings, in floor radiant heat, in unit washer/dryer, gourmet kitchens, heated garage parking, secure coded entry, roof-top patio and conveniently located one block from the park strip. Construction is scheduled to begin in May 2021 with completion expected in 2022.
The property is owned by ACDA and was the former home to the K Street Eats food truck pod.
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.
Debenham Properties, LLC is a comprehensive real estate consulting company dealing in both commercial and residential properties, headquartered in Anchorage, Alaska! Debenham Properties prides itself on integrity, innovation and its history of commitment to excellence, providing building owners, clients, and tenants with professional management services. The Debenham Companies have been doing business in Alaska since 1964. Since then, Debenham has acquired or developed office buildings, retail centers, warehouse facilities, multifamily residential properties, raw land, and has provided equity financing in the States of Alaska, Utah, Nevada, and Hawaii.