Cook Inlet Housing Authority (CIHA) has been selected by the Alaska Housing Finance Corp. (AHFC) for the $35 million redevelopment of Loussac Manor. The development site is located in midtown Anchorage between A and C Streets near 20th Avenue.
Loussac Manor will be redeveloped by CIHA as “Loussac Place…Where Families Grow” and will consist of 120 units of mixed-income housing, which will replace the 60 units of housing formerly known as Loussac Manor.
The housing development will emphasize strong community partnerships. A cornerstone of the new development will be the new ZJ Loussac Community Building, which will house Camp Fire USA afterschool activities and will serve as a gathering place for the community, offering access to a multitude of partner service agencies and activities.
“We are excited at the prospect of bringing much-needed affordable and workforce housing inventory to the Anchorage market,” said Carol Gore, CIHA president and chief executive officer. “This location is ideal for the downtown and midtown workforce and their families, with easy access to public transportation, bike trails and a beautiful park across the street, Loussac Place will truly be a place for families to grow and thrive.”
The project is the only 2011 AHFC low-income housing tax credit development. It represents the largest low-income housing tax credit award project, and will be one of the largest residential developments in Alaska’s history.
The development team is comprised of a local group of architects and contractors. The development site will be maximized to create a unique Alaskan neighborhood with a beautiful streetscape and interesting architectural detailing. The finished development will offer two-, three- and four- bedroom apartments in a range of building sizes and styles from duplexes to six-plexes. Each apartment will have its own private entry and garage.
AHFC helped place 62 former Loussac Manor residents in housing while the project is being completed. Those residents will have the option to move back when leasing begins.
Construction on “Loussac Place…Where Families Grow” is slated to begin in spring 2011 and is targeted to be completed May 2013. Leasing will begin June 2012, when the first group of buildings is completed. Call (907) 793-3000 to learn more about the project.