What's to become of the Polaris?

 

Time is starting to run out for the Polaris Building located downtown on First Avenue.
 
The City of Fairbanks has set a deadline now less than two weeks away for Anchorage owner Marc Marlow to file any permits to renovate or tear down the vacant high–rise.
 
The city declared the former hotel unfit for human occupancy because of ice, water, mold and a pigeon population last fall.
 
The city could move to tear down the Polaris if Marlow doesn't meet this and other deadlines to begin and complete construction during the summer.
 
They say tearing down the Polaris would be a major task, financially, so the city likely would need to request funding from the 2014 state legislature.
 
As it stands right now, Marlow has not filed any permits with the city planning office.
 
Marlow previously has talked about converting the Polaris building into a 117–unit apartment building and received support from the city in the form of 2006 tax deferrals and partial tax exemptions.
 
In 2011, the city voted against an ordinance that would have let Marlow defer certain building and fire fees until after the renovation.