The Alaska Housing Finance Corp. has announced a plan to award $35 million in grants and tax credits in six Alaska communities next year, building or upgrading nearly 200 affordable apartments for low-income and senior Alaskans.
An AHFC statement says its 2013 Greater Opportunities for Affordable Living program will generate an estimated $47 million in economic impact, while adding 25 more units than its 2012 total. The program provides grants, federal tax credits and zero-interest loans to stimulate the construction of rental units that reduce homelessness, as well as housing for low-income tenants, senior families and people with disabilities.
“Affordable housing continues to be an issue as demonstrated by the fact that the requests exceeded funding available by more than 300 percent,” AHFC Executive Director Dan Fauske said in the statement. “Nonetheless, we are pleased with this announcement to make an impact in communities across Alaska. The meaning is defined by the faces of those who will be served by each development.”
In Anchorage and Eagle River, Phase II of the Trailside Heights project, sponsored by Volunteers of America, will produce 20 new units for low-income families. A Coronado Park project yielding 56 units for mixed-income seniors is being built by the Cook Inlet Housing Authority.
Wasilla and Soldotna’s Chinook Villa and Northwood Apartments projects, built by GMD Development, will produce 55 units for low-income seniors. An additional Soldotna project, Phase II at Silverwood, is being developed by Kenai Peninsula Housing Initiatives.
Homer will receive two projects, including the 24-unit Harbor Ridge for low-income families built by Cordes Development 2, as well as six more such units at Alderbrook’s Phase II being developed by KPHI.
A Kodiak project, Near Island Elderly, will feature 32 units for low-income seniors in a building with an elevator. The project is being developed by the Kodiak Island Housing Authority.
Contact Chris Klint