At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas. If you have a gay real estate story that you’d like to share with us, contact us at [email protected]. Today, in our ongoing series about local real estate markets, we’ll take a look at home sales and trends in Alaska.
Chris Stephens at the Anchorage Daily News looks at how commercial real estate is helping to drive Anchorage’s economy:
Next time you’re driving around town, take a moment to notice all the commercial buildings. Commercial real estate is a huge piece of the local economy. By commercial real estate, I mean all the office, warehouse, retail and multifamily buildings, from five-plexes on up. According to the Municipality of Anchorage, there are more than 10,000 commercial properties in Anchorage, with a total assessed value of about $9.5 billion. These buildings generate about $148 million in property tax revenue to the city. That’s about one-third of our total tax base; of that tax revenue, about half goes to the School District.