Affinity Hospitality has introduced the development of a brand new Courtyard by Marriott Resort in Midtown Anchorage. The four-story, 141-room resort is anticipated to open within the spring of 2026. The Courtyard by Marriott Midtown Anchorage will likely be positioned at 4960 A Avenue, close to Ted Stevens Worldwide Airport.
The resort’s building started in June and is financed by Northrim Financial institution and Nuveen Inexperienced Capital (NGC). It’s the first new building challenge in Alaska to be funded by way of the Industrial Property Assessed Clear Vitality and Resilience (C-PACER) program, which affords versatile financing for industrial actual property tasks and is at the moment out there in 40 states and Washington, D.C.
The brand new resort is Affinity Hospitality’s second challenge in Anchorage. The corporate goals to offer worth to its funding companions by way of strategic planning and environment friendly administration. The resort will characteristic a contemporary foyer design, a newly designed Bistro, a enterprise library, and a wide range of facilities, together with an indoor swimming pool, a health middle, and visitor laundry amenities. The resort additionally affords 1,430 sq. ft of versatile assembly house to accommodate occasions of as much as 95 folks.
$14 million of the resort’s $39 million financing bundle will likely be used for power effectivity, water conservation, and seismic resilience measures. These measures are important in Alaska, essentially the most seismically lively state within the U.S., and can assist the resort function with a diminished carbon footprint and decrease working prices.
Nuveen Inexperienced Capital’s West Coast Director of Originations, Aidan McLaughlin, expressed enthusiasm about utilizing C-PACER financing for this challenge and its constructive affect on the Alaskan industrial actual property trade.
