This 10-acre parcel is strategically located between the Old and New Glenn Highways at the busiest intersection in North Eagle River. This commercial site is suitable for multi-use development. Eklutna is examining the retail, commercial and class A office building markets. This will also be the site for the Corporation's new headquarters.

Davis Constructors & Engineers and RIM Architects worked with Eklutna, Inc. to develop a preliminary design and a construction budget for today's market and mixed use of commercial office buildings and retail stores. We are calculating the numbers to fill the site and prepare it for development.

In May 2010, the Board of Directors approved moving forward with master planning of the site. DOWL HKM has been hired to perform these services.

Negotiations with the Anchorage School District (ASD) began in the spring of 2008, for a new school site in Eagle River. After construction was completed on Eagle River’s new high school, ASD turned its focus on a new grade school site within the planned development of Powder Reserve. A blended bond initiative was created to be approved by voters. In November 2008, the ASD approved the placement of this bond initiative in the April 2009 Municipal election. A portion of that initiative would have funded the acquisition of the Powder Reserve school site land. That initiative failed however ASD plans to resubmit. The location of this site is strategic for the ASD and the community creating a key lynchpin for Eklutna’s new development.

Another unique component of Powder Reserve will be the inclusion of a town center. When the Corporation was developing this design, it recognized an enormous opportunity to build a commercial center in the heart of a 1,500 home development. Additionally, discussions with the business community of Eagle River identified the need for additional commercial development expansion. As the main thorough fare runs through the heart of Eagle River to the edge of Fred Meyer, this proposed commercial center will move across the Glenn Highway and continue growing the community’s commercial businesses while tying into the Powder Ridge and Powder Reserve developments. This 6.5 acre site has tremendous potential. There have been several outside investor inquiries in developing mini malls, coffee shops, retail shops and a community center.

As the Corporation continues to be forward thinking, the planning of our developments are carefully considered and deliberately planned to provide a unique, premiere development to the residential and commercial community in this strategic location.

This 155 acre development is the future of the Corporation’s industrial development projects. Although other corporate owned lands are zoned industrial, none are as valuable as this site. With the adjacent railroad spur and the market’s lack of industrial zoned land, this location has been the focus of many industry leaders, most importantly, the Municipality of Anchorage. With the Port of Anchorage expansion project, the required rail yard acreage is at critically low availability for the ARRC and the strategic location to move goods from Anchorage to Fairbanks will be driving factors for this location to be a prime, in demand, multi-million dollar development.

The Alaska Railroad Corporation, which is owned by the State of Alaska, has been aggressively encouraging the Corporation to develop the site. Inquiries from prominent, Alaska corporations, and international companies regarding access or leasing possibilities of this site solidify the plans to move forward with this project. The Birchwood Site is also designated as a Foreign Trade Zone (FTZ) which provides benefits and added value for goods shipped to or from global markets.

A 34 acre site next to the Birchwood Airport on lands owned by the Corporation has been selected by the Municipality of Anchorage and the Anchorage Police Department (APD) as the new site for a law enforcement training facility. This project consists of several firing ranges, light facilities, and it will be used by State and Federal law enforcement agencies as well. This will become a long-term ground lease providing rental income on an annual basis. In 2008, APD secured federal funding for a portion of this project. In 2010, a funding request will be submitted to the Alaska State Legislature which will be used as matching funds for planning and design. Once the design is completed, APD will fund the construction. A letter of intent to lease has been executed, and through a subsidiary of the Corporation the construction of the facilities is being considered as a design build opportunity for 2011.

Eklutna, Inc. owns most of the remaining or developable commercial and industrial land in the Municipality of Anchorage. This is a prime commodity and enables the Corporation to lease the land, design/build a facility, and/or sell the property. Existing leased properties include partnerships with companies like Office Depot, Spenard Builders Supply, Alaska Communications Systems, AT&T Cellular, and the federal government, General Services Administration managing the lease terms for the Federal Bureau of Investigation headquarters in Alaska.

In certain, advantageous situations, commercial land held by the Corporation may be sold. For instance, the Fred Meyers site in Eagle River, brings an anchor franchise to enhance and promote the development of adjacent corporate lands. This decision was pivotal in the Corporation’s long terms plans to develop that location as the new primary and desired location for Eagle River commercial development to expand. Since the completion of Fred Meyers, multiple medical industries have constructed facilities adjacent to the Fire Eagle site. The Corporation has several more commercial lots for lease near the Fred Meyers property called Northgate and Fire Eagle. Long term ground leases are a core revenue stream anticipated to be a growing segment in the overall business model.

In 2007, the Corporation signed an agreement with the Municipality of Anchorage for a significant land trade. The Mt. Baldy Land Trade, traded 80 acres of frequently hiked mountain top overlooking Eagle River for 20 acres of park land. The Corporation received 20 acres in Edmonds Lake Park and cash in consideration of the value of the 80 acres. Realizing the value to the community of this land trade funding came from appropriations approved by the Alaska State Legislature. The final closing was June 2008.

Additionally, the Corporation continues negotiating in discussions for significant land trades with the Alaska Railroad Corporation and with the Municipality of Anchorage. The anticipated, successful completion of these discussions will markedly increase the assets of the Corporation.

In the summer/fall of 2008, Matanuska Electric Association (MEA) approached the Corporation regarding an interest in approximately 72 acres of corporate owned land. This land is located off the Old Glenn Highway by the Reed Sub Station and is being considered for a future natural gas power plant. The Corporation’s lands have a long history, due to their strategic location, of supporting infrastructure related to the power grid system for Anchorage and the Matanuska-Susitna Borough.

This project will have long term benefits for the Corporation, including employment opportunities for Village residents, the ability to capture waste heat for co-generation for future Eklutna projects, and increased visibility of corporate lands in this area available for development. This will leave a significant footprint demonstrating Eklutna’s long term vision of developing this area.