A developer plans to overhaul a major block in downtown Anchorage. The project includes the demolition of the 4th Avenue Theatre.
Developer plans construction of $200M project in downtown Anchorage, including tearing down 4th Avenue TheatreDraft renderings of several projects slated to be built in Downtown Anchorage’s Block 41 project.
Developer Peach Holdings LLC is expected to spend roughly $200 million to overhaul the city block between 4th and 5th avenues and F and G streets. The developer already owns most of the properties on the block, including the 4th Avenue Theatre. It anticipates initial construction will start this summer on what it’s calling its “Block 41” project.
Bronson was flanked by displays of renderings of what the buildings could look like, showcasing modern, window-heavy high-rises. However, officials say the final design is still up in the air. “May 31 is going to be the 75th anniversary of the grand opening of 4th Avenue Theatre,” Neal said. “And instead of celebrating 75 years, we’re going to be celebrating as a funeral for the building. And it’s just really sad.”City officials say the theater has a host of internal structural problems, including failing boiler and electrical systems and an open elevator shaft. Bronson said demolition was the only feasible option for the property.
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