Alaska Corporation For Affordable Housing (ACAH)
In 2011, the Alaska Legislature passed HB119 amending AHFC's statutes to allow it to create a subsidiary for the purpose of developing affordable housing throughout Alaska. ACAH will be organized as a 501(c)(3) tax-exempt organization under the IRS Code. As a subsidiary of AHFC, ACAH has the same seven member board as AHFC, with three officers; President, Vice President and Secretary/Treasurer.
The Corporation was formed to develop, manage and operate affordable housing and provide supportive and related services to support the mission of AHFC. AHFC's statutes do not provide AHFC with the power to undertake certain types of housing or to participate in some financing and ownership structures. ACAH's mission will be to undertake the types of affordable housing and services that are not open to AHFC directly, but which support AHFC's mission of providing affordable housing and services to individuals and groups in need.
Alaska Corporation for Affordable Housing
Operations and Development Manager
Ridgeline Terrace fills a need for workforce housing in the community, offering 70 units of mixed-income housing -- 50 family and 20 senior apartments. The 5-star plus property features solar-powered hot water and electricity systems that help reduce tenant-paid utility expenses.
Susitna Square is located in East Anchorage, Susitna Square offers 18 units in two five-plex buildings. This Alaska Housing Finance Corporation public housing offers residents easy access to a municipal park.
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