Developer interested in Polaris Building

Posted: Friday, December 19, 2008

FAIRBANKS - An Anchorage developer says he wants to try resurrecting an 11-story building in Fairbanks that has been empty for nearly a decade.

Marc Marlow says he would look for tax breaks through state and federal programs to restore the Polaris Building, a former hotel on First Avenue in Fairbanks.

Marlow envisions turning the building's first floor into commercial space, with apartments on upper floors.

He wrote to Mayor Terry Strle asking for a waiver on fees for permits and plan reviews, plus the use of a block of a city street during construction.

Local governments extended property tax breaks to Marlow in 2005 and 2006 when he first proposed redevelopment plans for the building, now owned by a California investor.

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