Grass Creek at Creekside Construction Begins
On Friday, June 15 at 12 p.m., Cook Inlet Housing Authority officially broke ground on Grass Creek Village at Creekside Town Center, an 80 unit mixed-income housing development located on nearly 8 acres within the designated Creekside Town Center boundaries at the corner of Muldoon and Debarr Roads.
More than 75 project partners and supporters were in attendance with remarks made by: Peggy Robinson, President of the Northeast Community Council; Mark Pfeffer of Muldoon Community Improvement LLC which led the Creekside Town Center planning efforts; finance partner Wells Fargo Bank represented by Executive Vice President for Commercial Lending, Pita Benz; Mayor Mark Begich for the Municipality of Anchorage; and finally Dan Fauske, CEO/Executive Director for the project's primary investor Alaska Housing Finance Corporation (AHFC). Cook Inlet Tribal Council Board Chairperson, Clare Swan, offered the blessing.
AHFC, in partnership with Centerline Capital Group, is providing federal low income housing tax credits that will result in $10.3 million in tax credit equity for Grass Creek Village. The tax credits combined with loans and Supplemental Grant Program grant funding bring AHFC's total investment in this 80 unit, $25 million project to more than $19 million -- or 75% of the total project cost.
While CIHA is the developer for Grass Creek Village, an impressive list of people and organizations have invested money and countless hours into ensuring the viability and success of Grass Creek Village and the entire Creekside Town Center project. The key partners listed above only tell part of the story. Dozens of individuals and organizations have come together to make Grass Creek Village at Creekside Town Center possible.
The vision and faith of CIHA's board of directors combined with money CIHA receives through the Department of Housing and Urban Development as CIRI's tribally designated housing entity lays the foundation for everything the organization is able to accomplish.
Dean Architects, designers of luxury condos currently under construction in downtown Anchorage, are the architects on the Grass Creek Village development. Known for high quality construction, Neeser Construction Inc. and The Petersen Group are responsible for bringing the Dean Architects' designs to life.
Dowl Engineers has been involved in the Creekside Town Center project since the town center concept was first introduced in the 20/20 plan and their extreme dedication and leadership has extended throughout the pre-development phase of Grass Creek Village.
Grass Creek Village at Creekside Town Center represents another revitalization effort by Cook Inlet Housing Authority. Former home to the Alaska Village mobile home park, the Grass Creek Village at Creekside project is part of a larger effort to clean up a site designated by the Municipality as being deteriorated. The section of Chester Creek which runs through the area had been directed by a previous property owner into an unnatural ditch. Thanks to the partnership of Tamas Deak at KPB Architects and a long list of others, the creek has been restored to a natural state for future residents and visitors of Creekside Town Center to enjoy.
The investment of these and so many other project partners represents a commitment to quality. Through quality design and construction, and strong financial partners, we will improve our neighborhoods and provide wonderful new homes for local families while continuing our efforts to overcome stigmas associated with affordable housing.
Grass Creek Village will offer rent-to-own town-homes in a total of 22 triplex and fourplex buildings. The site will also provide a community building and extensive green space. The residential community is expected to be bordered at its east end by commercial development on Muldoon Road.