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Ch’bala Corners Grand Opening

Cook Inlet Housing Authority expands affordable housing opportunities in Spenard

Anchorage, Alaska — Today Cook Inlet Housing Authority will welcome residents into 48 new affordable apartments in Spenard, with the grand opening of Ch’bala Corners. Ch’bala is the upper Cook Inlet Dena’ina word for spruce tree. During the grand opening there will be a celebratory planting of a spruce tree in the future onsite community park area.
“Ch’bala Corners is a celebration of the tenacity and commitment of a lot of partners and many years, to transform a neglected corner of Spenard into safe, affordable housing for elders and families,” said Carol Gore, president and CEO of Cook Inlet Housing Authority. “Building a foundation for healthy and thriving residents in this centrally located neighborhood, where they have access to transportation, employment, recreational and retail opportunities is how we empower people and build a stronger community.”

Representatives from the Ch’bala Corners development investors and partners will speak about the importance of affordable housing as part of the solution to homelessness, housing affordability in the community and the connection between health and housing. A key tool for the financing of affordable housing developments is the Low-Income Housing Tax Credit Program. For Ch’bala Corners, CVS Health provided the equity used to help finance the construction of these 48 new apartments in Spenard.
"When people have access to high-quality, affordable housing, it puts them in a better position to take care of their health and manage chronic disease," said Keli Savage, Executive Director and Head of Impact Investment Strategy, CVSHealth. "That’s why we continue to find opportunities at the local level – like here in Anchorage – to provide housing and supportive services to those who need it most.”

The Ch’bala Corners development, located at 36th Avenue and Spenard Road, is currently moving in tenants to Phase I, which includes three buildings: a senior housing building with 19 apartments, an 8-plex garden style building for families and individuals, and a 21-unit multifamily building, for a total of 48 units of affordable housing.

Remarks will begin at 11:45 am. Parking is available on Chugach Way and across the street from the development, at 3600 Spenard Road and 3510 Spenard Road.
Please use the crosswalk to get across Spenard Road to Ch’bala Corners.

Who: Cook Inlet Housing Authority
What: 48 units of new affordable rental housing opening in Anchorage.
Partners gather to share information about the development and impacts to the community.
When: September 14, 2022 at 11:30 am
Where: 1391 Chugach Way

Owner/Developer: Cook Inlet Housing Authority
Architects: Spark Design
Contractor: Watterson Construction
Investors: Aetna / CVS Health
Alaska Housing Finance Corporation
Cook Inlet Housing Authority
Cook Inlet Lending Center
Federal Home Loan Bank of Des Moines
Northrim Bank
R4 Capital
Alaska Office of Native American Programs, U.S. Department of Housing
and Urban Development
Cook Inlet Housing Authority’s mission is to create housing opportunities that empower our people and build our community.

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