AHFC: Gastineau Apartments beyond saving
“The Juneau Assembly had hoped to seize the Gastineau Apartments by eminent domain, and have Alaska Housing finance a project by a private developer to rehab the property and turn it into affordable housing.
Mark Romick with AHFC says the state-owned corporation is not likely to get involved, after the architect’s report indicated the building is not worth saving.
“From the perspective of Alaska Housing — which you know is a governmental organization that has to comply with rules for redevelopment or development of property that the private sector doesn’t have to — it wasn’t something that we could undertake without a substantial contribution of equity from someplace,” Romick said.
He said the estimated cost to demolish the Gastineau Apartments ranges from $900,000 to gut it — leaving just the exterior concrete walls in place — to more than $1.2 million to completely raze the structure. And he says those are conservative estimates.”
Kelly, Casey. KTOO 26 February 2015.