
ANCHORAGE, Alaska — The long-awaited Block 41 redevelopment in downtown Anchorage is inching closer to actual construction, promising to reshape the area where the iconic Fourth Avenue Theater once stood.

When finished, Block 41 is planned to deliver a new multi-use building with a mix of retail spaces, parking, and possibly a hotel — part of a larger goal to breathe new life into a historic corner of downtown Anchorage. The project will also incorporate a recreated facade of the original Fourth Avenue Theater to honor the building’s cultural legacy.
Despite that vision, progress on the site has been slow since the theater’s demolition in 2022, leaving many residents and visitors puzzled by the lingering empty lot in the heart of the city.
“My first thought was, what in the world were they doing? How long has it been there? And why is it still there?” said Kevin Miller, a tourist visiting Anchorage with his wife, Nancy.
Standing nearby, Nancy Miller echoed the sentiment. “We've just started walking downtown, and there are cute shops, and we're headed to the water. And it's just an eyesore, especially if you live here and see it every day.”
Local business owners, however, are trying to stay optimistic that the wait will pay off. Jana Hayenga, who owns Cabin Fever, a shop across the street from the site, says she’s heard that plans are advancing behind the scenes.

“We just have to be patient and know that it's going to happen and it's in the process,” Hayenga said. “So once it's all completed, I think everyone will be happy that we've had this kind of progress in our downtown.”
Hayenga believes that once construction ramps up, the new project could inject new life into an area that’s seen periods of stagnation, bringing with it more foot traffic and new business opportunities for local shops and restaurants.
“All kinds of offerings of restaurants and more stores and living spaces and office spaces and parking — I mean, that's a huge advantage for all of us downtown who are business owners,” she said.
The development is seen as part of broader efforts to revive downtown Anchorage and attract more visitors and residents to its core. City leaders have long stressed that revitalizing the old Fourth Avenue Theater block could serve as a catalyst for additional investments and new projects nearby.
The Block 41 project team has indicated that plans are still on track and that the next visible stages of construction could begin once final designs and permits are in place. Once complete, supporters hope it will help re-establish Fourth Avenue as an iconic corridor blending historic charm with modern amenities.
Originally reported by Ian Stewart in Your Alaska Link.
The smartest construction companies in the industry already get their news from us.
If you want to be on the winning team, you need to know what they know.
Our library of marketing materials is tailored to help construction firms like yours. Use it to benchmark your performance, identify opportunities, stay up-to-date on trends, and make strategic business decisions.
Join Our Community