Alaska Housing Finance Corporation (AHFC) is the state public corporation that finances affordable housing across Alaska. It funds single-family mortgages, multifamily lending, public housing and weatherization, and allocates land and tax credits for affordable housing projects statewide.
ahfc.us ↗Anchorage, AK, USA
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Frame from "Alaska Legislature: Senate Resources - October 26, 2026 10:00am" · Photo source
Housing agency has no set plans for proposed state land transfers, CEO tells senators
Alaska Housing Finance Corp. CEO Brian Butcher told the Senate Resources Committee on Monday that the agency has no specific plans yet for the state land the Department of Natural Resources proposes to give it at no cost.
The six proposed transfers add up to more than 400 acres, committee chair Sen. Cathy Giessel said, including 220 acres at Rosie Creek near Ester and smaller parcels near Anchor Point, in Seward, near Cheri Lake in the Mat-Su and elsewhere in the Fairbanks area. Leased at the University Land Office's rate, she said, the land would bring the state treasury $285,000 a year.
AHFC says the point is housing. Butcher said the homes would be a mix, with affordable housing "a piece of it, but not possibly the majority of it." Asked whether builders would pay for the land, he said, "We see the affordable housing piece of it being what they would pay for the land." AHFC puts a 30-year covenant on its affordable units, he said.
The effort started with $4 million the Legislature gave AHFC in 2024 to acquire land for housing, Butcher said. The agency used that money, along with expiring federal rent relief funds, to buy almost 600 acres from the University of Alaska. Then, earlier this year, DNR contacted AHFC about state land it thought would work for housing. AHFC filed 26 applications; six have moved forward in DNR's public process and six more are under review. The current state budget adds $8 million for the program.
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About Alaska Housing Finance Corporation
ahfc.us ↗Anchorage, AK, USA
The Alaska Housing Finance Corporation (AHFC) is the state public corporation that finances affordable housing across Alaska, headquartered in Anchorage. It funds single family mortgages, multifamily lending, public housing and weatherization.
AHFC allocates tax credits and financing for affordable housing projects, and its board sets the criteria that rank them. It runs public and senior housing with waiting lists, publishes a statewide rent survey, and funds housing for teachers and other professionals in rural Alaska. State land transfers to AHFC for housing, made without competitive bidding, draw questions from legislators and neighbors.
Its work connects to the Department of Natural Resources, which proposes those land transfers, and to the Legislature, whose lawyers have questioned them. Local governments such as Anchorage trade land with AHFC for housing sites, and HUD grants support other housing providers.
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