Anchorage Proposes Land Swap to Boost Housing Development
The Municipality of Anchorage is initiating a land swap to facilitate increased housing development within the city. Development officials are proposing to trade an unused 10-acre parcel in Midtown, known as Tozier Track, for a 1.6-acre state-owned plot downtown, referred to as Block 102. The Anchorage Community Development Authority (ACDA) is spearheading this effort, with its director, Mike Robbins, presenting the ordinance to the Anchorage Assembly. The Tozier Track, formerly a mushing venue, is largely vacant, while Block 102 is currently a parking lot. Both parcels are appraised at similar values, with Tozier at $4.13 million and Block 102 at $5.24 million. The proposed housing units are intended for the 'missing middle' of the real estate market, targeting individuals earning 80% to 120% of the area median income, offering apartments, townhomes, and houses. The ordinance specifies that at least 70% of the land on either site must be developed for residential dwellings, with a minimum density of eight...