EconomyAnchorage · July 5, 2026
the port that feeds us
The Don Young Port of Alaska has started building a new $977 million cargo terminal, with construction set to rattle Anchorage neighborhoods through September.
Daily Alaska staff · July 5, 2026 · Anchorage
The Don Young Port of Alaska has begun construction on a new cargo terminal in Anchorage, replacing an aging facility that has deteriorated over the years. Crews will start driving steel pilings into Cook Inlet next week, marking the first major phase of a larger port rebuild.
Anchorage residents near Government Hill, downtown and areas close to Turnagain Arm will hear and feel the construction work, which runs Monday through Saturday from 7 a.m. to 10 p.m. through September.
The new terminal, which replaces Cargo Terminal One, is expected to cost about $977 million and be completed in 2029. A second terminal will follow after that.
The full port modernization is estimated at $2.75 billion, funded largely through bonds that will be repaid by surcharges on goods moving through the port.
The Port of Alaska handles the vast majority of the food, fuel and everyday goods that arrive in the region, making the rebuild significant for consumers across Southcentral Alaska. The project comes as larger cargo ships increasingly require upgraded docks that the aging terminals cannot accommodate.
In this story
Questions people ask
Where is the new cargo terminal being built
At the Don Young Port of Alaska in Anchorage, with piling work happening in Cook Inlet.
How much will the new terminal cost and when done
About $977 million, with completion expected in 2029. This'll rattle neighborhoods near Government Hill, downtown and Turnagain Arm through the construction season.
How much does the full port modernization cost
About $2.75 billion total. Bonds fund most of it, and shipping companies repay through surcharges on goods moving through the port, so it gets built into what you pay for imported goods.
When does construction noise happen
Started the week of June 30, 2026, Monday through Saturday from 7 a.m. to 10 p.m. through September.
Evidence
Sources
Claims and where they come from
- The Don Young Port of Alaska started construction on a new cargo terminal. · alaskasnewssource.com
- The new terminal is expected to cost about $977 million and be completed in 2029. · alaskasnewssource.com
- The full port modernization is estimated at $2.75 billion. · alaskasnewssource.com
- Construction runs Monday through Saturday, 7 a.m. to 10 p.m., through September. · alaskasnewssource.com
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