Polaris project still muddled
Published Friday, October 16, 2009
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FAIRBANKS — A developer has confirmed he wants to redevelop an empty downtown hotel, although the proposal continues to draw doubt from public officials.
Marc Marlow, a developer previously active in the Anchorage senior housing market, said last week his initial plans for the former Polaris Hotel remain largely unchanged since he bought the vacant building this spring. He originally said he hoped to redevelop the Polaris — an 11-story concrete building now decaying from years of vacancy — this year but said last week he is no longer working with an Alaska Native corporation originally viewed as a potential partner.
Yet Marlow said he wants to start what would be an estimated $19 million rehab project next summer.
“I have every expectation of being done before the marketing season of 2011 and lots of reasons to be encouraged,” he said.
The city and borough governments have labeled the building “deteriorated” to help potential investors receive tax breaks, but Marlow said he expects to approach City Hall again for more help.
Chad Roberts, a councilman and commercial real estate agent, said he’s unlikey to support extending more aid for the Polaris, which has sat empty for almost a decade. Roberts and other members of a committee this spring reviewed Marlow’s plans for the Polaris and expressed doubts it could work.
Marlow said this spring he’d seek a waiver of fees and tax-related interest charges for the building.
“That really was going above and beyond what we thought was appropriate,” Roberts said of the request.
The hotel opened in 1952 as an apartment building and changed hands a few times. It became a hotel before closing early this decade. Much of the interior suffers from cosmetic damage, and it has fallen to one-tenth of its originally assessed property value. Part of the interior wall system has disintegrated with time, and low concrete ceilings complicate the prospect of redevelopment.
Steve Shuttleworth, the city’s building official, said he thinks the building can be renovated only after the plumbing, mechanical and electrical systems are gutted and replaced.
The city of Fairbanks one year ago sought a state grant to tear the building down. Marlow, who three years ago had tried unsuccessfully to buy the Polaris, responded by telling City Hall he was again interested in buying. But the City Council has again told the state, in a letter approved last month, that it might again need help one day with demolition costs.
City Mayor Terry Strle said public workers often find themselves responding to reports of vandalism or trespassing at the Polaris.
“It’s something that’s just there. And what to do about it is a question,” Strle said.
Marlow said last spring he would approach federal and state historic preservation offices for tax credit financing to refurbish the building into apartments and office space. Earlier this decade, he restored the then-vacant McKay Building in Anchorage. Municipal leaders there had labeled the 14-floor McKay building “deteriorated” to help Marlow receive tax breaks.
Contact staff writer Christopher Eshleman at 459-7582.
Community Discussion
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SNAFU - Situation Normal . . . .
SO lets sit on our hands for another year with it closed and unable to do anything but be an eye sore. You look around at what kind of economy is out there and this guy is actually working to address two major problems from that building. Lack of tax revenue and a vacant eyesore, and the negotion seems to be about what the council sees as an appropriate return? How many things have started out in the public funded sections and turned private? So we cant subsidize this by reduced tax and interest just to get it over with? Ten years is long enough dont you think? Move on, get the job done and quit talking about it.
Oh, and affordable housing for elders, pfft, who needs that? If we wait they will die.
Ask Anchorage what they think about this guy and his development plans.
No, no, no! No, we must build new facilities outside of downtown! Building or rennovating something downtown might attract people and businesses, which would bolster the whole revitalization movement!
No, better we just tear the thing down. The lot might make a good parking lot for people to go and visit... well, whatever there is downtown. Better yet, let's leave it standing just as it is! I know if I were a tourist I'd be so thrilled to see condemned buildings when I get off the bus!
12 million sounds pretty low. I'm not in construction, it just sounds low. But, also it would be wonderful if this project is completed and done right.
No more! The City went the extra mile when it declared the building “deteriorated” to help speed the refurbishment process. Yes, Mr. Marlow bought the building and that has been it. From that point forward nothing has been done and it still sits as a derelict. Mr. Marlow - either put up or shut up!
No more for sure,especially with the tourism declines last summer and projections for a grim summer to come. But--how about transforming the building into a wrap around service center/training center for the homeless-at least some of the floors--have housing, the Breadline, AA, training programs for GED, etc all in one convenient accessible place--this would be way cheaper to the community than using FMH and FCC all the time.
The Dogs Bar could move in there.
I saw the headline, "Polaris project still muddled," and assumed this had something to do with snowmachines and the lack of snow.
Which reminds me, did anyone else see the hard copy this morning? The "Man on the Street" feature asked people when they thought the first snow would fall. One respondent listed his occupation as "sea monkey breeder and groomer."
That was the first thing I read this morning, and gave me a good laugh. Glad to know there's still a few real Alaskans here in Fairbanks.
Mackie1 has a great idea there. Dogs on the top floor, rooms to rent below by the hour or the night, a new skybridge direct to the courthouse and lawyers could sit behind windows at street level kind of like some folks do in Amsterdam. What happens at the Polaris could stay at the Polaris. :)
Perhaps it could be used as mayor's private office
Why not turn the place into offices for lawyers with a nice bar/restaurant on the top floor. It's just across the street from the courthouse. Most law offices are still located near the old courthouse. I think code requirements for office space are less stringent than places where people sleep.
I don't see what the city has to lose, if a developer wants to do something with this building let him try! Make him pay a large deposit that he only gets back as he works towards finishing the building. Give him deadlines and make him follow through to get his "deposit" back.
Is it that hard to use your brains??
Nearly anything that is done is better than what is being done now.
If something does get done then it is one less empty building that the city has to constantly monitor.
Lackloey, what makes you think that all the law offices in town can just break their leases or sell their current buildings if they own them and move en masse into the Polaris? I don't think the building codes for commercial buildings would allow 7'6" ceilings and one elevator. To make it a commercial property or anything else would require a complete gut job to the shell. Even then you might be in the position of popping every other floor (effectively halving the rentable square footage) to get the space to run all the utilities. It's a skanky old building with significant issues that someone either needs to commit to a major rennovation or drop it and build something from scratch.
Polaris building is falling apart and is unsafe. It is time to destroy it and put up something new and SAFE. It will cost more at the outset but save more in the long run.
Out with the old, in with the new. It is time.
Take out every other floor (after the first floor offices) and sell them as expensive "lofts" for residential and business for the lawyers next door. Put TWO restaurants on the top floor. One, a quick bite to eat with breakfast, lunch and dinner menu. The other a NICE business lunch and evening-out dinner restaurant and lounge. I would also encourage a sky-walk to the parking garage. This may help fill the garage and gain it permanent rental of spaces- you know...income.
Aren't there any other developers or investors in Fairbanks? The city could offer the first 10 years be tax free to encourage the project- I mean the city hasn't been earning anything on a derelict building for this long- what's a few more years, if there will be a big pay-off in the end. The city is soooooo short-sighted.
Let's hear what Marlow needs and talk about it. Quit speculating and stop being negative. The longer we bicker among ourselves, the longer it sits and continues deteriorating. I like Sherry29's concept. It's worth more discussion when the time is right.
I miss the Fairbanks I grew up in. I live in mini Anchorage now even though I never moved. It makes me sad. :(
Is there anything or anyone the City Administration/officials don't doubt? What a marvelous incentive all that negativity is for someone who is trying to do something positive and help the City recover from so many years of hard times and that kind of idiotic thinking. Hard to believe the city would be so doubtful and negative about the influx of tax money the restoration could bring - especially when they are desperatly trying so hard to extort some easy money from the Borough with their annexation petition.
Tami, that's not a bad idea but I'm not sure it will pencil out to do that as a renovation as opposed to a tear down and new build. At the end of the day you have essentially a 60 year old 6 story building. I don't see this as a big influx of tax revenue. I suspect whoever builds there will extort significant tax incentives from the city and the Borough.
Here's a thought. What if the State of Alaska bought it, leveled it, and built an Attwood Building there to house all the state offices that currently are renting around town? Many of those tenants have business at the courthouse (PD, DA, AG, OPA, probation and parole, etc.) The commercial landlords might not like it but we could get a nice new building and save the money the state is paying on tens of thousands of square feet of rented space. Downside is the city would lose tax revenue.
It suuuuuuurrre would be a shame if someone took it upon themselves to burn that place to the ground some night.
Yes indeedy, that suuuuuuurrre would be a shame...
I wonder what the Visions Fairbanks plan has in mind for that spot?
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