Creekside town center: a new vision for Muldoon.

• Author: Cutler, Debbie
• Position: Special Section: Building Alaska

Developers Mark Pfeffer and Jerry Neeser took an old trailer park and are turning it into a mixed-use development center that will greatly enhance the Muldoon community.

Say you were shopping for a home and you had a growing family. There's one that's perfect. But it has only 1,600 square feet of space. Say there's a comparable one that has 2,000 square feet. Which would you most likely choose?

According to Mark Pfeffer, co-owner of Venture Development Group and president/CEO of Koonce Pfeffer Bettis, most people would choose the larger home.

But change the equation some. Say the smaller one is within walking distance from schools, restaurants, grocery stores, shops, churches, parks and trails. And say the larger home is in an area where you have to drive to get everywhere, Now which would you choose?

Pfeffer's betting many would select the smaller home.

"There's a different answer because it's a different lifestyle choice," Pfeffer said.

Pfeffer and Jerry Neeser, also a co-owner of Venture Development Group and owner of Neeser Construction, are creating a mixed-used development community that allows people to live, work, shop and play in the same neighborhood. They are developing the $350 million Creekside Town Center, located in the east side of Anchorage in a 64-block section where Muldoon and DeBarr roads meet.

The town center, which will be complete with a main street of shops and plenty of parking, will be located on 68 acres of land (formerly Alaska Village mobile home park) on the southwest corner of Muldoon and DeBarr roads, and on 53 acres of land across the street, next to Fred Meyer.

The duo signed a contract to purchase the old Alaska Village mobile home park for $8.2 million three years ago. The purchase was completed two years ago and cleanup is nearly finished. They are currently under contract to purchase the 53 acres, which is owned by Jack Miller and home to his shop, MB Contracting Co. Inc. A price for that property was not released.

Initially, Pfeffer and Neeser planned to sell or lease part of the land they bought to Sam's Club, which was under contract to build on the old trailer park. The rest of the land would be used for business and residential purposes. "We had to rezone it for Sam's Club and ultimately did get it rezoned, then Sam's decided to contract somewhere else so they pulled out," said Pfeffer. "At that time we took a step back and said, 'How do we proceed at this point?'

"Our vision originally was to...