Stretching from C Street to the inlet, from just south of 15th to fourth avenue, downtown housing has something for everyone, from log cabins to luxury urban high rise condos in the Petersen Towers and everything in between. So far this year, there’s plenty to choose from with 13 single family homes for sale, ranging from $370,000 to $2.9 million. There are also 27 condos ranging from $127,500 to $1.4 million. But, perhaps the most interesting component of downtown housing is the redevelopment of R2 lots, whether in the Bootlegger’s Cove area, South Addition or the Park Strip. I’ve lived in the downtown area, in various locations for over 30 years, including an east facing Petersen Tower condo and always wishing I could have afforded one with the west facing ocean sunset view to Bootlegger’s Cove in a four-plex with a peek-a-boo view of the inlet. Frankly, I always thought I would be at the forefront of re-development when I moved to H Street 20 years ago but it has taken that long for the R2 tear downs to begin, whether across the street with two luxury duplex condos under $600,000 or new developments along the park strip with roof top decks, coming soon.
Properties become more expensive as you move from C Street to the cove. Fairview and Government Hill are downtown but they are considered a different market segment. Nevertheless, there are plenty of choices from C street west to Bootlegger’s cove. Just think of it like those buttery scones available at Fire Island, a fres
h flavor for every taste. There have been some hits and misses along the way in redevelopment from the narrow outer space designs in the cove and on E Street to the stalled luxury flats with spectacular inlet views in the cove. However, some properties that have been for sale for as long as I can remember now have sale pending signs on them. Older buildings are being remodeled with a mixture of craftsman style and flat roof contemporary. Bootlegger’s Cove is slowly being freshened up with new paint, new exteriors and a handful of new townhouse style units coming soon. Plus, Park Strip Lofts and townhouse style condos with daylight basements, in my neighborhood on H Street and G, with views of the mountains, developed and built by Hultquist Homes who appears to be staking out a claim for developing downtown living.
There’s a cost, however, for that walk to Simon’s or the Performing Arts Center to take in the latest live opera or concert. Average square footage price for new construction is more expensive downtown than anywhere else in the bowl, softened only if there is there is a daylight basement. The average duplex condo site is worth about $150,000 per side, making most new attached housing in the $600,000 plus range. Plus, alleys need to get paved, water sewer/connects need to be upgraded and sometimes connected from the street because forty years ago AWWU didn’t require the installation of pig tails to the lot lines. Then, for the oldest, tear down properties there’s the probability of a buried fuel tank. The cost of tearing down an old log cabin can run anywhere from $15,000 to $30,000. But, whether you’re a retired lawyer, a downsizer from the hillside or a young millennial, everyone seems to want that raspberry ginger scone. I, however, prefer that buckwheat cinnamon roll, the best in Anchorage. And so is downtown living, where there’s a residence for every lifestyle.
For what’s coming soon in downtown Anchorage, call or text me at 907-229-2703 or visit me this Sunday at open house, 15th and H Street, from 1 to 4 pm.