a parking lot for 10 acres

and the city is the one asking for it.

Anchorage wants to hand the state almost 10 acres south of Tudor Road, the old sled dog racing grounds, mostly empty now except for two falling-down buildings.

In exchange the city takes a downtown block on Ninth Avenue between D and E streets. Right now that block is a parking lot.

The acreage looks lopsided until you look at the appraisals. The Tudor Road land came in at four point one three million dollars. The downtown block came in at five point two four million.

So the smaller piece is worth more. Downtown dirt is expensive because you can stack housing on it.

The deal comes with strings. At least 70 percent of that block has to be built as housing, at a minimum of eight homes per acre, aimed at households earning 80 to 120 percent of the area's middle income.

That's teachers, nurses, trades, the people who keep getting priced between subsidized housing and a downtown condo.

The Assembly is expected to vote later this month. If it passes, the trade could go through in October.

The city's development director put it plainly. This is the beginning of the process, not the end.