Developer Optimistic About Polaris Building

An Anchorage developer says he may be able to start remodeling a derelict Fairbanks building next year.

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by Associated Press

FAIRBANKS- An Anchorage developer says he may be able to start remodeling a derelict Fairbanks building next year.
   
Marc Marlow told skeptical Fairbanks city officials Monday that work on the Polaris Building could start in 2014 if he lines up subsidies.
   
The 11-story former hotel and restaurant have been vacant for 11 years. Marlow has owned it for eight years. The city last year declared the building dangerous and unfit for humans.
   
Fairbanks Mayor Jerry Cleworth says the city should continue to move toward condemnation of the building but acknowledges that money is not in hand for tearing it down.
   
Cleworth says it will do no good to give Marlow new deadlines for progress on a renovation because they're not going to be met.