Municipality of Anchorage and ACDA advance redevelopment of key downtown building

​The Municipality of Anchorage and the Anchorage Community Development Authority are moving forward with an effort to redevelop the former Nordstrom property, a highly visible site in the heart of downtown.

The building has long been a downtown landmark, reflecting an earlier era of retail-driven growth. Today, this vacant property represents a critical opportunity to reinvest in Anchorage's urban core.

On the agenda for introduction at Tuesday evening's Anchorage Assembly meeting is a proposed transfer of the property from the Municipality to ACDA. Once approved, the transfer of ownership will enable ACDA to lead redevelopment efforts.

"Since taking office, I've been focused on revitalizing downtown," said Mayor Suzanne LaFrance. "This is an important step toward advancing a project to reimagine an iconic building and encouraging further economic development."

ACDA and Mayor LaFrance envision the project as an iconic development that would anchor downtown, support surrounding businesses, and contribute to a more active and welcoming streetscape. The building's proximity to the Anchorage Museum, the Fifth Avenue Mall and other downtown attractions adds to its potential.

"This site represents a rare opportunity to redefine a key gateway into downtown Anchorage," said Mike Robbins, ACDA Executive Director.

The proposed transfer is the first step in a longer planning and development process that ACDA will lead.

The redevelopment effort aligns with adopted planning documents, including the D Street Area-Wide Plan, which calls for reinvestment in underutilized properties, improved connectivity, and the creation of vibrant, mixed-use destinations that strengthen downtown Anchorage.

Additional details regarding the redevelopment and next steps will be released as the project moves forward.

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About the Anchorage Community Development Authority

The Anchorage Community Development Authority is a public development authority dedicated to serving as a catalyst for economic development, revitalization, and community investment throughout Anchorage. ACDA works in partnership with the Municipality of Anchorage and community stakeholders to advance projects that strengthen the local economy to build our city's future.

Media contact:
Melinda Gant
External & Community Affairs Director
Anchorage Community Development Authority
(907) 301-5591
[email protected]

​Emily Goodykoontz
Press Secretary
Anchorage Mayor's Office
(907) 205-6683
[email protected]

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