Preserving Anchorage

Preserving Alaska's history...it's something important to many of us...whether you've lived here for several weeks or several years. But as Anchorage continues to grow, it also seems to be experiencing growing pains, and that could be jeopardizing our past.

Earlier today I was at the Fourth Avenue Theatre, a place that holds a lot of meaning to Alaskans. But soon the inside and outside may look a little different, because it's ownership may be changing hands.

There are many rumors flying around about what's going to happen to the Fourth Avenue Theatre. People have been talking about a parking lot or gym being built in that space. The city says that as of now, the property is still in its preliminary negotiation stage between two private parties.

Robert Godsteen, the theatre's current owner, is in talks with California based Peach Investmentswho already owns the Key Bank building and the parking lot across from the theatre. The city says the investment group wants to work with the community to help preserve this special building.

Anchorage Historic Properties is nominating the theatre for one of the 11 most endangered buildings in America this year. They hope this will give it recognition and protection. This has been quite a year for historic properties. Between the Oscar Anderson House and now this, there have been a lot of concerns raised about how our city is preserving our heritage.

"The public part of the theatre, the inside, the stars on the ceiling, the panels and so on, is very very important to the public because many people here have grown up with that," said Robin Ward, Executive Director, Heritage Land Bank & Real Estate Services.

"I've talked to people who rode out the 64 earthquake in that theatre, had their first dates in that theatre. It's basically the heart and soul of downtown and has been since it was built," said Gina Hollomon, Executive Director, Anchorage Historic Properties.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.