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New Housing Units Ease Juneau Housing Crunch

Anchorage, Alaska, May 28, 2013 -- Alaska Housing Finance Corporation (AHFC) plans to award $7.6 million
in federal grant funds and low-income housing tax credits to Volunteers of America National Services;
Volunteers of America, Alaska; and development partners Trapline LLC and V2. The organizations jointventured
and submitted a competitive bid to construct and manage Vista Drive in Douglas.
The total cost of the 40-unit project is expected to exceed $10 million, with a Rasmuson Foundation grant
and AHFC mortgage to help cover the cost.
Dan Fauske, AHFC executive director and CEO said, "Following the fire at the Gastineau Apartments
downtown, AHFC was in a position to offer financial assistance for new housing construction. I’m very
pleased with how fast the process has moved, taking fewer than six months to go from accepting
applications to awarding the project. If everything works according to plan, groundbreaking will happen this
summer."
"Working with AHFC, the state was able to respond quickly to the Gastineau fire, making resources available
to build more affordable housing for families at a variety of income levels and provide good construction
jobs," Governor Sean Parnell said. "This effort is an example of how partnerships between the state, the
nonprofit, and private sectors can accomplish great things."
Fifteen of the units will be available for all; however, rent will be capped. The other 25 units will be for
families with low income who earn between $21,163 and $48,920 and/or families with disabilities.
According to project documents, the housing will have an on-site supportive service coordinator to ensure
tenants’ needs are met.
The housing will be built to AHFC’s highest energy efficiency standards, 2012 International Energy
Conservation Code (IECC), and will also use geothermal energy as a source of heat to help lower operational
costs.

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