{
  "story": {
    "slug": "27-apartments-where-polaris-stood",
    "headline": "27 apartments where polaris stood",
    "deck": "The City of Fairbanks got one proposal for the old Polaris Building site, a 27-unit affordable housing and retail project.",
    "url": "https://thedailyalaska.com/story/27-apartments-where-polaris-stood",
    "section": "Housing",
    "area": "Fairbanks",
    "published_at": "2026-09-04T20:00:00+00:00",
    "updated_at": "2026-10-02T06:04:31.02998+00:00",
    "body_md": "The City of Fairbanks received a single response to its request for proposals on the old Polaris Building site at 123 Lacey Street. The Urban Coalition, Fairbanks Neighborhood Housing Services and Bettisworth North submitted a joint plan called Polaris Commons, a phased mixed retail and affordable housing project. Phase one calls for a four-story building on the Lacey Street lot with ground floor retail, a cafe, specialty retail and a community room, plus 27 one-, two- and three-bedroom apartments.\n\nProposed rents in the plan range from $807 to $1,896 depending on the tax credit subsidy attached to each unit. Phase one is estimated at $23.8 million, funded through the Alaska Housing Finance Corporation's GOAL program, federal Low-Income Housing Tax Credits, the National Housing Trust Fund, Northrim Bank financing and a proposed $425,000 land loan from the city.\n\nPhase two would sit on the city-owned parking lot on Noble Street between First and Second Avenue, with the Fairbanks Neighborhood Housing Services office on the ground floor and 10 more apartments above. Parking for the project would use the Lavery Transportation Center garage.\n\nThe 11-story, 144-unit Polaris Building stood for 72 years after it was built in 1951. The city demolished it last year using $13 million in state and federal funding. Chief of Staff Mike Sanders said the city's evaluation team flagged the plan's heavy reliance on tax credits and the absence of a construction timeline, and whichever project is chosen must break ground within 12 months. Mayor Mindy O'Neall called the proposal promising but said she was disappointed only one group submitted a bid. The city council will hear the full presentation at its September 8 work session.",
    "sources": [
      {
        "url": "https://www.newsminer.com/news/local_news/polaris-commons-proposal-for-lacey-street-site-calls-for-housing-retail/article_34515dff-4bd6-44f5-817f-ceb7c2c75bc5.html",
        "label": "newsminer.com"
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  "envelope": {
    "story_id": "d75c02d5-7f02-438b-a030-42f267981f27",
    "slug": "27-apartments-where-polaris-stood",
    "summary": "The City of Fairbanks got one proposal, Polaris Commons, for the former Polaris Building site on Lacey Street: 27 apartments plus retail in phase one ($23.8 million) and 10 more units on Noble Street in phase two, with council review September 8.",
    "key_facts": [
      "The Polaris Building stood 72 years before demolition last year, costing $13 million in state and federal money.",
      "Polaris Commons phase one proposes 27 apartments and retail on the Lacey Street lot for $23.8 million.",
      "Phase two would add 10 apartments and an FNHS office on the city's Noble Street lot.",
      "Proposed rents range from $807 to $1,896 depending on subsidy.",
      "Whoever is selected must break ground within 12 months.",
      "The city council work session on the proposal is September 8."
    ],
    "faq": [
      {
        "a": "Polaris Commons, a phased project with 27 apartments and retail on Lacey Street in phase one and 10 more apartments on Noble Street in phase two, from the Urban Coalition, Fairbanks Neighborhood Housing Services and Bettisworth North.",
        "q": "what's being built on the old polaris building lot"
      },
      {
        "a": "Phase one is estimated at $23.8 million, funded through state and federal housing programs, a bank loan and a proposed city land loan of $425,000.",
        "q": "how much will phase one of polaris commons cost"
      },
      {
        "a": "Just one, from the Urban Coalition, Fairbanks Neighborhood Housing Services and Bettisworth North.",
        "q": "how many proposals did fairbanks get for the polaris site"
      },
      {
        "a": "The council reviews the full presentation at its September 8 work session.",
        "q": "when does the city council vote on the polaris project"
      }
    ],
    "claims": [
      {
        "claim": "The City of Fairbanks received only one proposal for the Polaris Building site.",
        "confidence": "sourced",
        "source_url": "https://www.newsminer.com/news/local_news/polaris-commons-proposal-for-lacey-street-site-calls-for-housing-retail/article_34515dff-4bd6-44f5-817f-ceb7c2c75bc5.html",
        "source_label": "newsminer.com"
      },
      {
        "claim": "Phase one of Polaris Commons is estimated at $23.8 million.",
        "confidence": "sourced",
        "source_url": "https://www.newsminer.com/news/local_news/polaris-commons-proposal-for-lacey-street-site-calls-for-housing-retail/article_34515dff-4bd6-44f5-817f-ceb7c2c75bc5.html",
        "source_label": "newsminer.com"
      },
      {
        "claim": "The Polaris Building was demolished last year at a cost of $13 million in state and federal funding.",
        "confidence": "sourced",
        "source_url": "https://www.newsminer.com/news/local_news/polaris-commons-proposal-for-lacey-street-site-calls-for-housing-retail/article_34515dff-4bd6-44f5-817f-ceb7c2c75bc5.html",
        "source_label": "newsminer.com"
      },
      {
        "claim": "Mayor Mindy O'Neall called the proposal promising but was disappointed only one group bid.",
        "confidence": "sourced",
        "source_url": "https://www.newsminer.com/news/local_news/polaris-commons-proposal-for-lacey-street-site-calls-for-housing-retail/article_34515dff-4bd6-44f5-817f-ceb7c2c75bc5.html",
        "source_label": "newsminer.com"
      }
    ],
    "locations": [
      {
        "area": "Fairbanks",
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        "name": "Polaris Building site"
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      {
        "area": "Fairbanks",
        "kind": "road",
        "name": "Lacey Street"
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        "kind": "road",
        "name": "Noble Street"
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        "name": "Lavery Transportation Center"
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    "people": [
      {
        "org": "City of Fairbanks",
        "name": "Mike Sanders",
        "title": "Chief of Staff"
      },
      {
        "org": "City of Fairbanks",
        "name": "Mindy O'Neall",
        "title": "Mayor"
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    "organizations": [
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      {
        "kind": "company",
        "name": "Bettisworth North"
      },
      {
        "kind": "agency",
        "name": "Alaska Housing Finance Corporation"
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      {
        "kind": "company",
        "name": "Northrim Bank"
      }
    ],
    "event_dates": [
      {
        "date": "2026-09-08",
        "label": "Polaris Commons presentation to city council work session"
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    "what_changed": null,
    "keywords": [
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    "disclosure": "Produced with AI assistance, narrated with Slav Lund's voice clone with his consent, and reviewed by a person before publishing.",
    "generated_at": "2026-10-01T05:10:38.372+00:00",
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    "updated_at": "2026-10-02T06:04:31.02998+00:00"
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    "description": "The City of Fairbanks got one proposal, Polaris Commons, for the former Polaris Building site on Lacey Street: 27 apartments plus retail in phase one ($23.8 million) and 10 more units on Noble Street in phase two, with council review September 8.",
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