Holtan Hills development unlikely this year, says Real Estate Director

By Soren Wuerth

TNews Editor

It is unlikely development of the so-called "Holtan Hills" subdivision will occur this year, said the director of a municipal land office, though a portion of the land—groves of old-growth rainforest behind Girdwood's school—was conveyed to a private developer in early May.

"I wouldn't anticipate that [developer CY Investments] would start this year. I guess it really depends on when they get through planning and zoning. But, I mean, we're in to June right now and construction season has already started," said Tiffany Briggs, director of the Municipality of Anchorage's real estate division.

A flag hangs on a Hemlock marking boundary for a proposed subdivision. (Photos by Soren Wuerth)

The Anchorage Assembly approved the transfer of 60 acres of city land in February to CY Investments following a year and flood of letters, testimony, and local government decisions opposing the plan for a large-scale subdivision in Girdwood. Critics of the plan have said it will do little to solve Girdwood's housing demand and only exacerbate existing demands on infrastructure.

CY Investments is required to hold a public meeting in advance of securing a permit from the Anchorage's Planning and Zoning Commission. So far, no date has been set.

The company plans to build 58 homes in the first of three phases to total more than 100 single-family homes, condominiums and duplexes. With the skyrocketing cost of housing in Girdwood—a 443 square-foot studio was recently listed at almost $500,000—it is unlikely, say housing experts, that local families who work in the community will be able to purchase homes in "Holtan Hills". 

Outdated public notices in the woods along the Iditarod Trailhead.

According to data compiled for Girdwood's comprehensive plan, of housing demand in coming years, 75 percent will be needed for lower and middle income households. The lowest cost of an "entry level" home in the planned subdivision would cost $500,000, developer Connie Yoshimura said during a town hall meeting in 2022.

Of 25 housing units sold last year all were sold as second homes or quickly converted to short term rentals, according to Girdwood Board of Supervisors member Mike Edgington.

Meanwhile, the Assembly provided funding to hire a consultant to "protect HLB's interest" in the project and to give status updates to Real Estate Director Briggs. After months of soliciting a bid, however, no one applied for the job. The proposal was re-issued and someone has applied but the city cannot disclose who is it until the job has been awarded.

So far, a wetlands study has been completed for the area, but Briggs said she didn't know whether the CY Investments, which is responsible for obtaining permits, has received one. 

Briggs said discussions about the middle portion of the Iditarod Trail, which winds along a bluff above Glacier Creek and abuts the boundary of "Holtan Hills", have been "on-going".

"We plan to go out there and walk it," she said.