Shareholders living in Anchorage may have noticed some recent activity on a couple of CIRI owned parcels this past month. A large-scale sewer project is underway in South Anchorage near the sweeping corner where Minnesota Drive turns into O’Malley Road.
JL Properties, a real estate development company based in Anchorage, is managing the project, with support from CIRI. JL Properties owns a tract of land adjacent to CIRI property on nearby C Street, and the project will provide sewer to all of the properties in the vicinity.
“For the past few years, CIRI has been trying to partner with businesses in the area to install sewer, which will bring development opportunities to our land,” said Sophie Minich, president and CEO of CIRI. “We are pleased JL Properties has taken the lead on this project and we look forward to supporting its efforts.”
The two pieces of property owned by CIRI include a 19-acre parcel at the corner of O’Malley Road and C Street, which has already been cleared for development, and an undeveloped 50-acre parcel along the Minnesota/O’Malley curve.