AHFC to Finance New Senior Housing Facility in South Anchorage

The Board of Directors for Alaska Housing Finance Corporation recently announced that it approved an $846,000 mortgage loan to Lumen Park Associates for a 20-unit low- to moderate-income independent senior housing project to be located in South Anchorage, Alaska.  The facility will consist of a three-story building comprised of eight one-bedroom apartments and a dozen two-bedroom units. In addition to the $846,000 mortgage loan from AHFC, Lumen Park Associates intends to use a $1.8 million grant provided under AHFC’s Senior Citizens’ Housing Development Fund and $2.6 million provided under the federal low-income housing tax credit program. 

This is the eighth affordable housing facility in Alaska developed by Trapline-CDI, the developer, and financed by AHFC.  Five of the 20 units will be reserved for residents earning 30 percent or less of median income; five will be for residents earning 50 percent or less, and nine will be for residents earning 60 percent or less.