$12 Million in Housing Grants and Tax Credits awarded for Low Income Families and Seniors
2020 Greater Opportunities for Affordable Living grants and tax credit have been selected by Alaska Housing Finance Corporation and will be awarded across the state. Eight affordable housing projects in Wasilla, Petersburg, Eagle River, Homer, Kenai and Anchorage were awarded a total of $12 million to project sponsors for affordable rental and supportive housing.
Funding, including zero percent loans, will be used to develop or upgrade 207 units benefitting low-income families, senior Alaskans, and those with disabilities.
The 2020 program awards generate more than $55 million in statewide economic impact. Two projects, WASH in Wasilla and South Anchorage Senior Housing, successfully leveraged Alaska Housing’s awards with $350,000 for each project from the Rasmuson Foundation.
"Funding from GOAL improves lives and strengthens communities with quality housing that is affordable to Alaskans. Contributions from Rasmuson Foundation extended our ability to support both new housing and redevelopment. We’re grateful for the partnership,” says Bryan Butcher, AHFC CEO/executive director.
Summaries of each project selected for funding are listed below.
- Wasilla – Aspen Pines, 40 units (Developer – Wasilla Pacific Associates III)
- Wasilla – Yenlo II, 22 units (Developer - Valley Residential Services)
- Wasilla – WASH, 40 units (Developer - Wasilla Area Seniors Inc.)
- Petersburg – Valhalla Place, 15 units (Developer – Swell LLC)
- Eagle River – Regency Apartments, 30 units (Developer – Swell LLC)
- Homer – Crane Hill II, 4 units (Developer - Kenai Peninsula Housing Initiatives)
- Kenai – Kenai Meadows II, 6 units (Developer - Kenai Peninsula Housing Initiatives)
- Anchorage – South Anchorage Senior Housing, 50 units (Developer – Cook Inlet Housing Development Corp.)