Construction is set to begin on a new downtown Anchorage housing project called: "Downtown Edge at The Rail" -- located on the corner of West 2nd Avenue and Christensen Drive near the Port of Alaska.

"It's the first large residential addition to Anchorage in over 20 years," development partner Bob Petersen said. "Just starting a project like this in this economy is quite a challenge. We've figured out a way to do that."

"Downtown Edge" will consist of up to 35 quality townhouse style condos in a modern industrial design. The area will be built in three phases, the first will contain 19 units and should be available in early 2019. Due to the natural North facing slope of the property, all homes will have spectacular views overlooking the railroad, inlet waters and Mount Susitna along with ships coming and going.

"There is so many developments downtown that are sort of cookie cutter and vanilla and this really breaks the mold," said Jon Wagner, listing agent. "All of this is going to be gone, it's going to be a modern styled development, some beautiful high-end townhomes that will bring in both the views across the inlet to Mount Susitna, as well as the proximity to downtown, should be a neat community."

Currently on the property is a warehouse-type structure that will be demolished during a program on Wednesday.

"There are still something being worked out," Wagner said. "The building just down below, our understanding it's going to get a pretty dramatic facelift and become sort of a mixed-used brewery down there."

The development is situated on over 11 acres of Alaska Railroad land and conceptually will include luxury townhomes, apartment suites, retail/restaurant space, an outdoor performance venue and park connected to the Tony Knowles Coastal Trail.

"We have a saying of eat well, have fun and be fit," Petersen said. "People can enjoy anything they'd like here. It's only a 10-minute walk away." 

Visitors and residents will be only steps away from Ship Creek fishing, festivals, markets, local restaurants and stores.

An all-local-team based in Anchorage and made up of private developers, engineers, architects, builders, local government and the Alaska Railroad have partnered to bring this innovative project to the Anchorage market. The project is being financed by First National Bank Alaska.

For information about reserving a Downtown Edge townhome, click here. You can also contact Jon Wagner at 907-360-4884 or

Copyright 2018 KTVA. All rights reserved.