Celebrating 49 years in the 49th state
Alaska Housing Finance Corporation was born out of necessity. Lack of affordable housing for low- and moderate income Alaskans prompted the Legislature to pass what is now Alaska Statute 18.56.010, creating AHFC.
It was May 26, 1971.
The Corporation started out as a small-scale operation with 10 employees generating $10.2 million in loans through its mission of providing Alaskans with access to safe, quality, affordable housing in in the first year.
It’s a different story 49 years later.
The mortgage portfolio contains 16,000 loans valued at $3.3 billion and the Corporation plays an important role in the Alaskan economy. Alaska Housing has now paid more than $2 billion in dividends to the State of Alaska, and according to Alaska Center for Economic Development each dollar spent by AHFC generates a further $1.60 in revenue for Alaskans business.
Of course AHFC is more than its mortgage business. Energy efficiency and weatherization have become increasingly important areas, as well as serving vulnerable Alaskans struggling with homelessness, and supporting survivors of domestic abuse and sexual assault, among other vulnerable populations.
A landmark for Alaska Housing came in 1992 when the Legislature expanded responsibility to include the state’s federally funded public housing. With 1,612 public housing units statewide and an expansive voucher program 13,000 Alaskans now have a roof over their head every night.