Alaskan Way is a surface street running along the Seattle waterfront from Broad Street in the north to East Marginal Way South just past South Atlantic Street. Alaskan Way is a major waterfront thoroughfare, providing surface transportation for tourists, Seattle residents, and shipping and ferry traffic around the Port of Seattle properties at its south end.
The roadway is built on top of fill material held in place by the deteriorating Alaskan Way seawall; in fact, all roadways and buildings from the waterfront to Western Avenue are built on this fill, and thus are in danger of collapse or major damage in a large earthquake. For this reason, plans are under development to rebuild the seawall and the associated roadways and support structure, including replacement of the aging Alaskan Way Viaduct, the raised two-deck highway that carries SR 99 along the waterfront.
References 
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- Wikipedia:Alaskan Way seawall (previously cited)
- Washington State Dept. of Transportation: SR 99 - Alaskan Way Viaduct and Seawall Replacement - project information page
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