Build Group, Inc. Grows Footprint with Block 41 Garage Project in Anchorage, Alaska
Build Group, Inc., a nationally recognized leader in construction and design-build delivery, has announced a significant milestone in its company history: its expansion into Alaska. This marks the firm’s first project in the state and positions Build Group as a key contributor to Anchorage’s downtown revitalization. The project, known as Block 41 Garage, will deliver a five-story, 152,022-square-foot open parking structure in the heart of Anchorage’s Downtown Core.
The new garage, which includes 355 parking stalls, features ground-floor parking and four elevated levels designed to meet both immediate community needs and long-term urban planning goals. Notably, the structural system has been engineered to support a future three-story lightweight housing addition, reflecting forward-thinking design that integrates flexibility with sustainability. The facility is part of the larger Block 41 redevelopment, an ambitious mixed-use project that includes a commercial tower, retail spaces, housing, and a hotel. Together, these developments promise to reshape Anchorage’s downtown into a vibrant hub of economic and social activity.
Anchorage’s Downtown Transformation
Anchorage has long been recognized as Alaska’s commercial and cultural center, yet its downtown core has faced challenges in recent decades. Stagnant growth, limited new development, and shifts in work and residential patterns left parts of the city underutilized. However, momentum is changing. The Block 41 redevelopment, driven by private investment and supported by city leaders, is emerging as one of the largest private-sector revitalization efforts Anchorage has seen in years.
This resurgence is more than just new construction. It represents a coordinated push to reimagine how downtown Anchorage functions as a place to live, work, and connect. The Block 41 Garage will not only provide much-needed parking capacity but will also act as a catalyst for further investment, drawing residents, businesses, and visitors back into the urban core. Its location adjacent to the 601 West 5th office building—also developed by the same owner—ensures seamless integration with the existing urban fabric while creating new opportunities for commerce and community engagement.
Build Group’s Expansion Strategy
For Build Group, the decision to expand into Alaska is not merely about taking on a new project. It is a strategic step in the company’s broader growth trajectory. Founded nearly two decades ago, Build Group began as a small yet ambitious firm dedicated to high-quality, urban-focused construction. Over the years, the company has steadily expanded its geographic footprint across the western United States, building a reputation for delivering complex projects in diverse markets.
Today, the firm operates in Washington, Oregon, Idaho, and Montana, and with the addition of Alaska, Build Group strengthens its presence in the Pacific Northwest and beyond. This move underscores the company’s commitment to scaling nationally while retaining local focus, ensuring that each project reflects the needs of its specific community.
“We’re thrilled to officially break ground in Alaska,” said Nathan Rundel, co-founder and president of Build Group, Inc. “The Block 41 Garage is more than a structure—it’s our gateway to a new region and a signal of our commitment to national scale with local care. We enter this market confident in our team and trusted by our growing client base as we continue Building It Forward across the country.”
Partnership with Peach Holdings
The Block 41 redevelopment is spearheaded by Peach Holdings, a private developer with a vision to transform Anchorage’s downtown into a modern, mixed-use district. The collaboration between Peach Holdings and Build Group highlights the importance of trusted partnerships in achieving ambitious development goals.
“We are excited to be working with Build Group on this critical first phase of Block 41,” said Derrick Chang, Managing Director of Peach Holdings. “Their reputation for high-quality, urban construction makes them a great partner to help bring our long-term vision for Anchorage to life. Block 41 is not just about revitalization—it’s about creating spaces that attract people to live, work, and invest downtown.”
By integrating parking, residential potential, and commercial connectivity, the Block 41 Garage is designed as more than an isolated facility. It is a cornerstone of downtown redevelopment, a project that balances functionality with a broader community-building mission.
Economic and Community Impact
The timing of Build Group’s expansion into Anchorage is no coincidence. The city is entering a period of renewed optimism, fueled by strong investor confidence, shifting demographics, and the recognition that urban vibrancy is essential to long-term growth. Downtown Anchorage, once considered stagnant, is becoming a focal point for new construction, adaptive reuse projects, and mixed-use development.
The Block 41 Garage directly addresses a key challenge: parking capacity. With new businesses, housing, and hotels planned for the district, accessibility is essential. By providing over 350 stalls in a central location, the garage not only serves immediate demand but also lays the groundwork for future residential expansion, aligning with sustainable growth practices.
Moreover, projects like Block 41 contribute to job creation, both during construction and beyond. Local trades, suppliers, and service providers benefit directly, while the long-term boost to downtown vitality generates ripple effects throughout the broader Anchorage economy.
