Valdez Unveils Blueberry Terrace, First New Apartments in 40 Years

The $13.8 million development, financed through 4% Low-Income Housing Tax Credits, provides homes for households earning up to 60% of the Area Median Income. WNC & Associates led the project in partnership with the Alaska Corporation for Affordable Housing, Trapline Development, and V2 Development. The site, formerly a vacant lot, now features two stories of housing with unit sizes ranging from 700 to 1,200 square feet.

To accommodate the harsh Alaskan climate, the complex includes single-car garages for every resident and designated snow storage areas. Anil Advani, executive vice president of syndications at WNC, noted that the project underscores the necessity of strong local partnerships in markets where housing inventory has remained stagnant for decades. This marks WNC’s second investment in Valdez and its first ground-up construction in the community.