Fairbanks looking at proposed development for Polaris Building site

FAIRBANKS, Alaska (KTUU/KTVF) - The City of Fairbanks has received a single proposal for developing the downtown site once occupied by the Polaris Building before its demolition in 2025, and administration officials are reviewing the document and fine-tuning the details before presenting an ordinance to the city council that would move the project forward.

Under the proposal, which was submitted by the development firm Urban Coalition, non-profit organization Fairbanks Neighborhood Housing Services and architectural firm Bettisworth North, the space would become a complex containing 27 affordable housing units of varying size spread across three floors, with the ground floor potentially having a housing firm, a coffee shop and a small retail space.

According to city Mayor Mindy O’Neall, the project also includes developing a space on the east end of the same city block, currently used as a small parking lot, into more housing.

“The administration will start talking about what the nuts and bolts of, of that project look like,” said city Mayor Mindy O’Neall. “Once those have been clarified, funding streams, particular issues such as parking or whether we open up that street, you know, what exactly is, is going to go in there, once those kind of get worked out, then a final, a final ordinance will be presented to the council for approval or denial.”

The mayor was unclear on how long this process is expected to take, but said there is a will to move the project forward, adding that it would be reasonable to expect an ordinance by the end of 2026.

“We want to see that space developed,” she said.

According to O’Neall, at this point the proposal seems to meet the community objectives outlined in the Request for Proposal (RFP) process.

Specifically, she discussed the need for affordable housing in Fairbanks, saying, “I think we can do better.”

Within the proposal itself, the project is being called the Polaris Commons.

See a spelling or grammar error? Report it to web@ktuu.com