Affordable Housing Opens in Alaska

Funded by low-income housing tax credits from WNC, the 23-unit property in Anchorage was constructed on the site of a former restaurant.
Photo by Didier Moïse
Anchorage, Alaska (Photo by Didier Moïse via Wikimedia Commons)

The Rural Alaska Community Action Program has opened a new affordable housing development in Anchorage, Alaska. Construction began earlier this year, following the demolition of a former restaurant. The property, known as Muldoon Garden, sits next to Sitka Place, a facility which offers transitional housing for homeless individuals with severe mental illnesses. WNC, a national investor in community development initiatives, provided $2.6 million in low-income housing tax credits to finance construction of the property.

Located at 207 Muldoon Road, the three-story building sits one block south of the entrance to Glenn Highway and is a two minute walk from bus stops served by the Anchorage People Mover’s 21 and 35 routes, offering access to the city center. The apartment community contains 17 one-bedroom and six two-bedroom units, and resident amenities include a laundry facility, controlled access, an onsite management office and a rain garden.

“Muldoon Garden offers residents a quality, affordable, multi-housing option far below the current market rate in Anchorage,” said Michael Gaber, WNC’s executive vice president & chief operating officer, in a prepared statement. “With the supply of affordable housing dwindling in comparison to demand throughout the nation, it is important to continue to deliver communities like Muldoon Garden to increase the nation’s affordable housing availability, and to accommodate local families in need.”

Earlier this year, WNC financed renovations of a San Diego-area affordable housing development.