Key Bank Plaza Renovation
It's hard to believe that the Key Bank Plaza was built a half-century ago. But indeed, the midrise building opened in 1972, then as the home to Alaska Mutual Savings Bank. Having been built during one of the more unfortunate periods of architecture, it isn't really surprising to see this building get a facade makeover. The building was damaged by the 2018 earthquake, and with the departure of Key Bank and the flagship Starbucks store, the owners apparently decided now was the time to give the building a facelift. I should note that Peach Investments owns the building -- the same company that owns other properties on the same block, including the First National Building and the 4th Avenue Theater. If I recall correctly, they also own 188 WNL in midtown. The new facade will without a doubt make this the boldest piece of mid-rise architecture in the city. Right now, I would say the most unique-looking building in Anchorage is the ASRC building in midtown. But unlike the ASRC building, the new facade for the former Key Bank Plaza has more grace and aesthetic appeal without trying too hard. According to the architects, the facade is meant to evoke the form of glaciers -- a design inspiration you would have thought would be tried by other developers by now. Fun fact: as a teen in the early 2000s, I thought at the time that the Key Bank Plaza would be a good candidate for a complete facade makeover. My idea for a design was nothing like what we're seeing now though.
Condominiums on the Park Strip
I'm really happy with the way these two condominium blocks turned out. Each replacing single-family homes, both buildings house four units each, and they continue the trend of residential densification along Delaney Park on the 10th Avenue side. I dream of one day seeing both sides of the park strip lined with two to five story buildings with the park serving as a common space for recreation and relaxation. Each weekday morning would witness "the great crossing" in which South Addition residents would walk en masse across the park to their jobs in downtown (this already happens to a small extent). There is just so much potential for 9th Avenue and 10th Avenue. Delaney Park, originally a firebreak and then a runway, is such an incredible asset for downtown Anchorage. Unfortunately, the 9th Avenue side of the park from L Street onwards hasn't seen new construction in decades. With there being a strong call for housing in downtown, 9th Avenue seems like a logical place for low to mid-rise residential buildings. Back to the two condominium blocks under review here, I'm really glad that there is no garage or driveway in the front. Residents here walk down the stairs and onto a path linking to the sidewalk. In the late 2000s, another set of condominiums further east on 10th Avenue were built as snout housing, with the garage taking up prominent space in the front. It's not a pretty site...
Bootleggers Landing
Here is another residential development that has come into being since my time off. Bootleggers Landing is among the latest residential properties to sprout up in the Bootleggers Cove neighborhood just west of downtown. The property contains eight units in total with each unit being three stories tall. A garage fitting one car is also included with each unit. Considering that there is no garage visible from the street, it's safe to conclude that parking is in the rear -- another win for this development. Instead of a garage greeting passersby, the Scandinavian-inspired building features mini lawns with a sidewalk reaching up to each door; these are basically a modern take on rowhomes. I should note though that there is one garage entrance in the front, which is how vehicles access the back area. What I found personally interesting as I drove up to see this development for myself was the shapeshifting form it takes as I drove towards it going west on 8th Avenue. Coming from the east, the building appears as a large black windowless mass -- a very striking and unusual site for any neighborhood. This is due to the fact that the units and their windows are slanted westward so as to get the most out of the view of Cook Inlet to the west. But the result is you get a building that is akin to Darth Vader when approaching from the east. I suspect some will see this as a design flaw that does not take the neighborhood into consideration, but I find the building to be a great addition to the neighborhood nonetheless. Its architecture is beautiful and looks to have been designed using superb materials. And of course, more density is always welcome. Previously, the site was a grassy empty lot that housed a small cottage that had been on the site for many decades.
Downtown Edge North
Another new housing development in downtown that I checked out sits not in Bootleggers Cove, but on the northern bluff of downtown overlooking Ship Creek. Downtown Edge North saw construction commence in 2018, when a warehouse occupying a small portion of the unoccupied land was demolished. The project, which is located on Christensen Drive, was made possible with cooperation from the Alaska Railroad, which is leasing out the land on a 95-year term. The development is to contain 22 condominium units, according to The Peterson Group. I'm not sure whether the project was downsized as an earlier news report in 2018 stated the project was to contain 35 units. When I drove by the site late last year, it appeared that roughly half the units had been completed, with the rest of the site remaining vacant. I'm hopeful the project will be fully realized. Unlike housing in Bootleggers Cove, residents at Downtown Edge North will have more immediate access to downtown Anchorage businesses, giving it a huge advantage over other condominiums in the area. The housing project also sits right next to the starting point of the coastal trail that goes out to Kincaid Park.
Coastal Place
Heading back to Bootleggers Cove, Coastal Place is a condominium completed in 2021 and located near the top of the bluff. In the photo above, you can see the Peterson Tower looming close behind. With the best views of the inlet coming from the top of the bluff, it is not surprising to see a development like Coastal Place come into being at this location. Prior to construction, a small cottage sat on the property for a number of decades. As of January 2022, half of the six units have been sold. Not surprisingly, the two units on the top floor were the first to go off the market as they each contain a 2,000 square foot private deck on the roof.
Susitna Flats
Among my more favorite projects to rise out of downtown Anchorage recently is the Susitna Flats apartments. Located at the west end of 9th Avenue facing Delaney Park, the building contains eighteen units -- twelve one bedroom and six two-bedroom units, with parking underground. Though rent starts at more than $2,000 per month, I'm just glad to see new apartments go up downtown. For so long, downtown Anchorage has had a drought when it comes to apartment construction. Not including Elizabeth Place, another new apartment building mentioned earlier in this blog, I believe the last time new apartments came into the market in downtown was around 2009 with the opening of the McKinley Tower Apartments -- yet that was merely a restoration of an apartment building that fell into disuse decades earlier. When I saw construction start on Susitna Flats three years ago, I had assumed this was just another condominium, especially given its location next to Bootleggers Cove.
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| The wall of facades running along the Delaney Park strip. |
Besides being apartments and not condominiums, I'm also glad to see this building extend the wall of building facades that face the Delaney Park strip on the 9th Avenue side. From L Street westward, there is a bit of a consistent wall of three-story building facades that face the park. Yes, there are major gaps between some of the buildings, but for Anchorage standards, this is the closest we'll get to the Central Park feel. The addition of Susitna Flats gives this stretch of 9th Avenue a nice bookend, though if there is one thing I would wish for, it would be for the Susitna Flats to be at least one floor higher.
Qanchi Place
Finally, I want to return back to the heart of downtown Anchorage where we find this recently converted apartment building. Located on 8th Avenue, this four-story building was originally built in 1961, and until becoming apartments was home to Duke's 8th Avenue Hotel. Cook Inlet Housing Authority had since acquired the property and converted it into a 28-unit apartment building with one and two-bedroom units. Rent starts at $750 with the website stating that income restrictions may apply. With Qanchi Place now complete, downtown Anchorage is now home to two new apartment buildings in the central business district. It's quite a feat, considering that the heart of downtown has not had new housing of this sort and at this scale in decades. This was made possible thanks to Cook Inlet Housing Authority, which besides Qanchi Place was also behind Elizabeth Place.
