Coronado Park construction coming quickly
A project that’s expected to bring nearly 200 new housing units to Eagle River will break ground this spring.
Cook Inlet Housing Authority senior finance development manager Tyler Robinson said the Coronado Park project plan includes a 56-unit senior housing development, along with plans for 28 to 35 townhouses and 98 condominiums.
“This is a significant investment for Cook Inlet Housing,” Robinson told the Chugiak-Eagle River Chamber of Commerce at its March 6 meeting at the Eagle River Ale House.
The 10-acre site is located behind the Eagle River Shopping Center. Robinson said groundwork was completed in 2011. Actual construction on the first part of the project — a four-story, 56-unit senior housing facility — will begin as soon as the ground thaws.
“We’re about to go from zero to 60 pretty quickly,” he said of the $16.5 million project.
Robinson said units in the building will be a mix of market rate and “affordable” independent living senior housing open to Alaskans age 55 and older. Roughly 40 will be “affordable,” meaning they’ll be offered to people with incomes at or below $40,000 per year, he said. The remainder of the units will be offered at market rates.
“It’s an affordable project and a market rate project sorta rolled into one,” he said.
Neeser Construction will build the four-story building, which will be the tallest in Eagle River.
Also planned for Coronado Park are 98 condominiums being built by the Peterson Group. Robinson said Peterson plans to build the two- and three-story condos (ranging in size from 900 to 1,700 square feet) as they’re sold.
Robinson said he thinks the range of sizes and prices — likely from $175,000 to $275,000 — is appropriate for the neighborhood.
“The mix of units, I think, is a good one,” he said.
The final part of the development will be 28-30 townhomes offered as rental properties. Robinson said the combination of for-sale and rental units will serve a variety of housing needs in the area.
“I think it really is a good step towards creating a more vibrant downtown Eagle River,” he said.
Anyone looking for more information about the Coronado Park development can visit cookinlethousing.org. Robinson said the website will soon include a page dedicated to the Coronado Park property.
Contact Matt Tunseth at 694-2727 or [email protected].