Knik Homes #1 received a 2021 Low Income Housing Tax Credit (LIHTC) award from the Alaska Housing Finance Corporation. The development will build 8 new fourplexes to house 32 two-bedroom units in Wasilla, AK.
All of the units will be targeted to households aged 55 and older, with preference for Alaska Natives. The new development is to set aside 16 units for homeless individuals and families. All of the units are single-story and will be equipped to ensure that residents can age-in-place and remain in the unit even if accessibility concerns arise.
Social services will be provided to residents and include weekday lunches, medical transportation within Wasilla, elder case management, and outreach and advocacy services.
At a Glance
- Native Organization: Knik Tribe
- Asset Management Client
- Date Closed with Investor: 2022
- Date Completed:
- Development Type: New Construction
- Project Status: Under Construction
- Total Homes: 32
- Total Project Cost: $16,737,663
- Total Investor Equity: $6,193,068
- Total Grant Money: $750,000