WNC and partners complete 20-unit affordable housing community in Alaska for $13.8 million

en.Wedoany.com Reported - WNC & Associates, Inc., a family-owned U.S. company, in partnership with the Alaska Corporation for Affordable Housing, Trapline Development, and V2 Development, has completed the Blueberry Terrace affordable housing community in Valdez, Alaska. Located at the intersection of Pioneer Drive and Clark Street, the project includes 20 newly constructed units designed to serve households earning no more than 60% of the area median income.

The community was financed using 4% Low-Income Housing Tax Credits (LIHTC), with a total development cost of approximately $13.8 million. Built on a previously vacant lot, it is the first new multifamily rental community completed in Valdez since the mid-1980s. The two-story building features one-, two-, and three-bedroom units ranging from approximately 700 to 1,200 square feet. To accommodate Alaska's climate, each unit includes a single-car garage and dedicated snow storage area, with proximity to community amenities and services.

Anil Advani, Executive Vice President of Syndication at WNC, stated that the project demonstrates the impact of partnerships in expanding housing opportunities in communities with limited affordable housing supply. Founded in 1971, WNC is a family-owned business that has acquired approximately $21.7 billion in assets across 49 states, including over 1,770 affordable rental properties housing more than 1 million residents. With offices in 18 states, WNC has partnered with over 400 developers and 175 institutional investors.