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Staff ask for reverter-clause extension so Raspberry Townhomes can secure financing
Summary
Municipal staff told the committee they support extending the reverter clause in AO 2026-45 to allow the Raspberry Townhomes project more time to meet development milestones and obtain financing; staff and members debated the five-year default and proposed clearer metrics for determining progress.
Anchorage planning and real-estate staff on April 29 said they support a multi-year extension of a reverter clause in AO 2026-45 so the Raspberry Townhomes project can obtain financing and begin construction this year.
Bob Dole, director of Community and Economic Development, said the buyer paid $150,000 for the parcel and has invested about $1,000,000 to prepare the site, including moving peat that made building infeasible.…
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