A retail resuscitation was done to the struggling mall in the early 2000s. The southern section was redeveloped as a satellite campus for the University of Alaska Anchorage. The remainder of the complex was retenanted with new stores and services.
Photo from http://www.jlproperties.com (JL Properties)

An aerial view of UNIVERSITY CENTER, looking toward the southeast. Running along the left side of the image is the Seward Highway expressway, also known as the New Seward Highway. The Old Seward Highway crosses the lower right corner of the image.
Photo from Google Maps