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Loussac Place is One Answer to Anchorage's Affordable Housing Needs
Anchorage has seen major growth over the past few decades and one effort to keep up with the need for housing is the new development of Loussac Place. The midtown neighborhood will make it easier for families of all incomes to find affordable housing.
Developers Cook Inlet Housing and Alaska Housing Finance Corporation said the need to add homes in the Anchorage area, and replace an under-utilized site with one that is more appropriate for the space were two of their main goals.
Loussac place, located between A and C Street on West 20th Avenue, is a mixed income neighborhood. Residents will include low and moderate income tenants who meet the income eligibility guidelines, as well as those who meet workforce development income guidelines, which has no imposed income limit but caps rent at an affordable level.
There are about 40 two-bedroom and 40 three-bedroom units dispersed throughout the neighborhood, and 28 one-bedroom and 14 four-bedroom apartments.
Officials said local schools are already expecting the influx of students set to live at Loussac Place.
Construction of the entire community is expected to be complete by December.
Assembly Member representing the area, Elvi Gray-Jackson said the new neighborhood is a positive way to answer the housing needs of Anchorage.
"It's gonna be a wonderful mixed-income place for people in our neighborhood to live. I think it's gonna, without a doubt, boost the economy in the midtown area. And just make it convenient for folks to have affordable and decent housing," said Gray-Jackson.
The most popular two-bedroom apartment is set for less than $1000 a month, and a three-bedroom apartment ranges between $1000 to under $1400 a month.
"We've taken over 550 applications. There is certainly a need for affordable housing, so to do that right, was important to redevelop instead of just trying to repair the homes that were here was a major decision for Alaska Housing, and I think it was the right decision," said Cook Inlet Housing President and CEO Carol Gore.
Originally built in 1967, Loussac Manor offered 62 units. The new development now known as Loussac Place will offer 120 units of affordable public and workforce housing.