The proposed 100,000-square-foot, 16-story Crystal Plaza development will feature 40 high-end residential units and four levels of private on-site parking. The building's first floor will be comprised of street front retail opportunities. The structure will cost more than $40 million to build.

“This is such an exciting opportunity for us,” said Steve Kirshner architect/project manager for RIM Architects. “Downtown Anchorage desperately needs downtown living. This project can not only fill that void, but really make Downtown a truly vibrant area.”

The property itself, located near the intersection of Ninth Avenue and F Street across from the Park Strip, is owned by longtime Alaskan Eunice Silberer. Silberer spends part of the year in Scottsdale, Ariz., “which is just booming with high-rise downtown residential projects,” Kirshner said.

Inspired by the idea of combining modern downtown living with Alaska's spectacular mountain views and easy access its outdoor recreational activities, Silberer contacted RIM about two years ago with the idea of developing such a project in Anchorage.

Before the project got off the ground, Kirshner said his team had to determine the maximum development the property could accommodate.

“We were really trying to find out what was going to be the most realistic use of the property,” he said.

Once the project started to move forward, Neeser Construction Inc. was hired as construction manager. A group of Anchorage-based realtors, bankers and land developers, who've since deemed themselves Crystal Plaza Development, also jumped on board.

The goal of the project, Kirshner said, is to give the Downtown area “a certain level of vibrancy 24 hours a day.” Retail business will bring in customers during regular business hours, and residential units will be occupied during the evenings and on weekends. “There needs to be a balance,” Kirshner said. “We wanted to make the building vital at all times.”

The residential units will be between 2,200 and 2,500 square feet, and will cost between $1.2 million to $1.9 million, depending on the size of the unit and its location within the building. The tenant will have a choice of two designer-created color schemes.

Hardwood floors, modern appliances, jetted tubs and custom European doors and cabinetry are a few of the amenities the units will offer. The building will also house a spa and fitness center, which will offer a full menu of services to residents and guests.

None of this is set in stone. Kirshner said there's enough flexibility within the design to shift a percentage of the spaces if needed. The building could house two levels of retail space instead of one, for instance, or each residential unit could be split into two 1,200-square-foot spaces.

Developer John McGrew said the development team is currently soliciting interest from parties under a pre-sale arrangement.

“We've just been bombarded with response from people who want these units,” McGrew said. “There's a lot of interest, and much of it is from out of state. High-end mixed-use condos have certainly become popular in Seattle and in markets like Vancouver, Wash. We're very pleased with the reception so far.”

He said the soonest construction would commence is this fall. The development team would like to have 75 percent of the units spoken for before construction begins.

On the Web: www.CrystalPlaza.org