In an effort to help tackle the affordable housing crunch in Anchorage, Alaska Housing Finance Corporation began working with the Alaska State Legislature in 2010 on a bill that would expand AHFC’s authority with a subsidiary corporation to finance or facilitate acquisition, development, management and operations of affordable housing statewide. In 2011, Governor Parnell signed that bill into law. Coupled with millions of dollars thanks to a settlement with mortgage companies after the predatory lending practices plagued our Lower 48 neighbors, plus federal funds, tax credits, loans and other layers of financing we began working more earnestly on two new Anchorage projects: Ridgeline Terrace in Mt.View and Susitna Square off San Roberto Avenue.
AHFC is privileged to act as convener at Ridgeline Terrace where 70 new units of housing will be added to a 6 ½ acre neighborhood plat off Mountain View Drive. We recently started work on Susitna Square off Bragaw Street demolishing outdated housing that will be replaced with modern, five-star plus energy-efficient housing that will benefit families who live there and the neighbors who surround it.
We worked with our neighbors to put our financing plans in place, and we solicited more partnerships. In all, we count Senators Murkowski and Begich, Congressman Young, the 60 members of the state legislature, Governor Parnell and members of his administration, Anchorage Mayor Sullivan and his administration, non-profit groups like the Rasmuson Foundation, Kids Corp. and Special Olympics, and others like KeyBank and Cook Inlet Housing Authority, and Anchorage Community Land Trust among our partners.
Our thanks go out to all who got involved in advancing these projects, including the federal Housing & Urban Development agency, along with Saint Anthony’s Catholic Church and all of our great partners who are working to make Alaska a better place to live.