Occupancy Rates Definitively Improving Downtown. It’s great to see new businesses opening and on the way to opening. On Second Avenue, Ts on Two Street bloomed this summer while 575 Bistro at the Springhill Suites and JL Properties’ headquarters offices next to Big Ray’s took root. On 3rd Avenue, the Lavery Bookstore popped-up as the Alaska Blonde restaurant takes shape in the Northward Building. The PWR Collective opened across from the Children’s Museum.
The Rental Incentive we piloted the last twelve months factored in seven more decisions to locate downtown. There’s new lunch spot TOAST at 1st and Wickersham, Candid Objects at 4th/Cushman, and on 6th Avenue it’s Black Wolf Tattoo Club and new restaurant Caliente. Joining these ground floor retailers are office tenants in Courthouse Square: Heaven Sent Homes, 49th Estate Planning and Wise Solutions LLC. The rental incentive is open through the end of this year.
Lessons learned from roughly $20,000 in “first month’s rent” incentive awards. We knew going into it that only the continuing support of our generous sponsors and supporters makes these incentives possible, but what did we learn? Not everyone uses incentives of this sort, but they do work. The incentives were “redeemed” by landlords and tenants alike. We learned that a $20,000 program is not necessary, but a smaller program offered annually is desirable to make it known that downtown is the first place to look to locate retail, offices and services. We determined that we needed a thing to illustrate for the demand side (tenants) where the supply is (vacancies), so we built a property map. Add your vacant property to this map. Finally, persistent vacancies like the remains of the Alaska Motor Inn, the former Aloha Grill or the Carnahan Building rob downtown’s momentum, and we look forward to change at those properties.
Validate parking in the Lavery Transportation Center. The Parking Garage partners with downtown businesses to offer garage ticket validation, making it easier for customers to shop, dine, and explore. By validating parking, local businesses help cover parking costs for their visitors—encouraging longer stays and repeat visits and keeping our downtown vibrant and welcoming. Learn more or email info@goldenheartparking.org
Join Downtown Implementation Group Meetings. Stay abreast of and contribute to the revitalization initiatives underway through Fairbanks2040. Contact david@downtownfairbanks.com for an initial invitation or click this link for the October 7 zoom meeting.