Lake Hood tenant secures 55-year lease at 12 cents per square foot

The Alaska Department of Transportation and Public Facilities proposes to grant a 55-year land lease to Lake Hood Air Harbor, Inc. at Ted Stevens Anchorage International Airport. The lease covers 60,037 square feet at 12 cents per square foot annually, or $7,204.44 per year, and runs from August 1, 2026, through July 31, 2081.

The lease authorizes the company to operate an aircraft hangar, office space, a flight school, and aircraft sales and service. The premises are located at Block 14, Lot 2C within the airport property.

Recent Lake Hood land lease notices from DOT&PF show a 12-cent-per-square-foot annual rate for aeronautical uses. In 2022 the department offered K-Lot, LLC a lease of up to 35 years at the same rate for nearly 199,000 square feet. A 2013 lease to Lake Hood Air Harbor, Inc. set the rate at 9 cents per square foot.

DOT&PF published the public notice on May 19, 2026. The department will accept written comments through 4:30 p.m. on June 18, 2026. Comments may be submitted by email to [email protected] or by mail to the Leasing Office at Ted Stevens Anchorage International Airport, P.O. Box 196960, Anchorage, Alaska, 99519-6960.

After the comment period closes, the department will determine whether or not to execute the land lease. The lease file is available for review during regular business hours at the Leasing Office in Room C3980 on the third floor of the South Terminal at 5000 W. International Airport Road.