Lands to Housing Catalyst Round

Alaska Housing Finance Corporation has launched a targeted, time-sensitive opportunity designed specifically for Alaska’s homebuilders, contractors and developers. AHFC is offering 11 parcels of land and targeted grants to qualified builders and developers who commit to constructing new housing. Through the Lands to Housing Catalyst round, AHFC is making these lands and a combination of grant funds available to housing developers that commit to building new housing that serves a range of incomes and affordability needs.

In September 2025, AHFC purchased the properties using $8.5M in expiring federal funds for the purpose of constructing new affordable housing. This unique circumstance is a strategic entry point to secure land, reduce upfront costs and deliver housing at scale in two of Alaska’s fastest-growing regions: the Mat-Su Borough and Fairbanks North Star Borough.

Built-In Flexibility: Design Projects That Work for Your Business Model

The program is intentionally structured to allow creative, market-aligned development approaches. All Alaska developers with the ability to construct new housing in the Mat-Su Borough and/or Fairbanks North Star Borough are invited to apply.

This is an opportunity for builders to secure land, shape communities and deliver needed housing at scale.

Eliminates one of the largest barriers to entry — land acquisition cost
Provides access to sites already vetted through feasibility and planning work
Allows for flexibility to design market-responsive housing products

Requirements:

Each parcel includes a minimum number of affordable housing units, varied by parcel, which supports AHFC’s mission to provide Alaskans access to safe, quality, affordable housing. Beyond that, developers have flexibility to deliver:

Single-family homes
Multi-family rental housing
Condominiums
Mixed-use developments
The type of housing developed is at the discretion of the applicant, so long as it is available to Alaskans
Short-term rentals are not allowed

This model enables builders to:

Meet affordability thresholds
Cross-subsidize with a variety of units
Optimize density and land use
Align product mix with local demand / needs

AHFC has already completed significant upfront work that reduces development challenges:

Site identification and acquisition
Environmental reviews and appraisals
Feasibility studies on select parcels conducted by University of Alaska

This groundwork enables developers to move quickly from concept to construction with a projected build start as early as Summer 2027.

Application Process & Timeline

Preliminary Teleconference: April 15, 2026

AHFC will host a preliminary teleconference on April 15, 2026 at 3:00 p.m. (Alaska Time) to address questions and comments on the application process.

Attend in person at 4300 Boniface Parkway (Boardroom), Anchorage, AK 99504
Participate via telephone toll-free by calling 1-650-479-3208; access code 925 853 934.

Contact Andy Petroni at apetroni@ahfc.us by April 14, 2026 if you plan to participate.

Intent to Apply Form Due: April 24, 2026, 5 p.m.

The Intent to Apply form is simple and non-binding
Requires only basic organizational information and parcel selection
After the April 24 deadline, applicants will have time to walk the properties with their development teams and create concept plans to support their application
Full applications and concept plans will be submitted to AHFC by June 25, 2026

Download the Intent to Apply Form and submit by April 24, 2026, 5 p.m., Alaska Time. >>

Available Property Inventory

Eight parcels in the Mat-Su Borough
Three parcels in Fairbanks North Star Borough
Parcels ranging from small lots to large-scale acreage suitable for phased development
Road-accessible sites, with several supported by existing subdivision feasibility studies

Fairbanks Property Maps

Mat-Su Property Maps

Reference & Application Documents

For More Information

Andy Petroni, Housing Development Programs Manager
907-330-8275 | 1-800-478-2432
apetroni@ahfc.us