Published: May 11, 2007
AHFC Board Approves $703,950 in Loans for Wasilla Senior Housing

The AHFC board on Wednesday approved loans
totaling $703,950 to The Birches II at Haley Hills Limited Partnership to
develop 28 units of affordable senior housing in Wasilla.
Other sources of funds for the $4.5 million project include tax credit
proceeds of $3.2 million and $563,079 from AHFC's senior citizens housing
development fund grant program.
The Birches II at Haley Hills will consist of six structures, consisting of
one- and two-bedroom units ranging from 642 to 810 square feet. The 18
one-bedroom units will rent for $436 to $600 per month, while the 10
two-bedroom units will rent for $520 to $678 per month. All 28 units will
be set-aside for tenants that meet the federal definition for older persons
and earn between 40 - 60 percent of the median income.
The project is located approximately 1.25 miles north of the Park's Highway
within the city limits of Wasilla on East Kali Circle.
AHFC is a self-supporting public corporation with offices in 16 communities
statewide. It provides statewide financing for multi-family complexes,
congregate facilities, and single-family homes, with special loans for
first-time home buyers, low- and moderate-income borrowers, veterans,
teachers, nurses, public safety officers, and those living in rural areas
of the state. AHFC also provides energy and weatherization programs,
low-income rental assistance in 17 communities, and special programs for
the homeless. Since 1986, AHFC has contributed more than $1.5 billion to
Alaska's State budget revenues through cash transfers, capital projects and
debt service payments.
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