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Council briefed on negotiated term sheet for 333 Alaskan Road (Laskin Road Gateway) redevelopment
Summary
City staff presented a recommended term sheet for sale of the 0.3-acre 333 Alaskan Road parcel to a private developer proposing a 5–6 story, 215‑unit multifamily project with private parking; council was briefed on price, due diligence, recapture rights and scheduled public hearing and vote dates.
City economic‑development staff presented council with a negotiated term sheet for the sale and redevelopment of 333 Alaskan Road (corner of Arctic Avenue and Laskin Road), a 0.3‑acre city‑owned parcel in the oceanfront Laskin Road gateway.
Emily Archer said the site was purchased by the city in 2011 for $1.4 million, appraised in 2023 at $1.68 million, and that after an RFP the selected respondent is Phoebe Laskin Road LLC…
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