Alaska Housing Finance Corporation is offering 11 plots of land in the Mat-Su and Fairbanks at no cost to Alaska homebuilders, contractors and property developers to facilitate the creation of new housing. Housing developers are invited to submit their interest by April 24, 2026.
Alaska Housing Finance Corporation has launched a targeted, time-sensitive opportunity designed specifically for Alaska’s homebuilders, contractors and developers: the Lands to Housing Catalyst. Housing developers are invited to submit their interest by April 24, 2026.
This unique circumstance is a strategic entry point to secure land, reduce upfront costs and deliver housing at scale in two of Alaska’s fastest-growing regions: the Mat-Su Borough and Fairbanks North Star Borough.
AHFC is offering 11 parcels of land and targeted grants to qualified builders and developers who commit to constructing new housing. In September 2025, AHFC purchased the properties using $8.5M in expiring federal funds for the purpose of constructing new affordable housing. The land is available to successful applicants, with the goal of ultimately adding to the housing stock and benefiting the Alaskans who move into the new homes.
Application Process & Timeline
Preliminary Teleconference: April 15, 2026 at 3:00 p.m.
AHFC will host a preliminary teleconference on April 15, 2026 at 3:00 p.m. (Alaska Time) to address questions and comments on the application process.
- Attend in person at 4300 Boniface Parkway (Boardroom), Anchorage, AK 99504
- Participate via telephone toll-free by calling 1-650-479-3208; access code 925 853 934.
Contact Andy Petroni at apetroni@ahfc.us by April 14, 2026 if you plan to participate.
Intent to Apply Form Due: April 24, 2026, 5 p.m.
- The Intent to Apply form is simple and non-binding
- Requires only basic organizational information and parcel selection
- After the April 24 deadline, applicants will have time to walk the properties with their development teams and create concept plans to support their application
- Full applications and concept plans will be submitted to AHFC by June 25, 2026
Click here to access the Intent to Apply Form and submit by April 24, 2026, 5 p.m., Alaska Time.
This is an opportunity for builders to secure land, shape communities and deliver needed housing at scale.
- Eliminates one of the largest barriers to entry — land acquisition cost
- Provides access to sites already vetted through feasibility and planning work
- Allows for flexibility to design market-responsive housing products
Available inventory includes:
- Eight parcels in the Mat-Su Borough
- Three parcels in Fairbanks North Star Borough
- Parcels ranging from small lots to large-scale acreage suitable for phased development
- Road-accessible sites, with several supported by existing subdivision feasibility studies
Visit the Lands to Housing Catalyst information page to see site maps of each property.
Built-In Flexibility: Design Projects That Work for Your Business Model
The program is intentionally structured to allow creative, market-aligned development approaches. All Alaska developers with the ability to construct new housing in the Mat-Su Borough and/or Fairbanks North Star Borough are invited to apply.
Requirements:
Each parcel includes a minimum number of affordable housing units, varied by parcel, which supports AHFC’s mission to provide Alaskans access to safe, quality, affordable housing. Beyond that, developers have flexibility to deliver:
- Single-family homes
- Multi-family rental housing
- Condominiums
- Mixed-use developments
- The type of housing developed is at the discretion of the applicant, so long as it is available to Alaskans
- Short-term rentals are not allowed
This model enables builders to:
- Meet affordability thresholds
- Cross-subsidize with a variety of units
- Optimize density and land use
- Align product mix with local demand / needs
Why This Matters Now: Market Conditions Favor Early Movers
AHFC’s CEO/Executive Director Bryan Butcher says “Alaska’s housing shortage is in many communities a present-day constraint on economic growth, workforce stability and resilience. Limited housing supply restricts population growth and community development. The Lands to Housing Catalyst creates a window of opportunity for developers positioned to act quickly, and challenges the status quo of what’s been done before, allowing for creativity and innovation in community-based solutions to known obstacles that otherwise impede housing construction.”
Strategic Advantage: Accelerated Path from Concept to Construction
Through the Lands to Housing Catalyst, AHFC has already completed significant upfront work that reduces development challenges:
- Site identification and acquisition
- Environmental reviews and appraisals
- Feasibility studies on select parcels conducted by University of Alaska
This groundwork enables developers to move quickly from concept to construction with a projected build start as early as Summer 2027.
The Bigger Picture: Building Housing, Unlocking Economic Growth
This initiative builds on AHFC’s broader Last Frontier Housing Initiative, expanding a model that integrates public land, targeted funding, community participation and private-sector execution.
For developers, the implications extend beyond a single project:
- Portfolio expansion in high-demand markets
- Reduced capital exposure on land acquisition
- Participation in a high-visibility, mission-driven initiative
- Positioning for future public-private partnership opportunities
For Alaska, the outcome is equally clear:
- Increased housing supply
- Greater affordability
- Stronger, more resilient communities
For More Information:
Andy Petroni, Housing Development Programs Manager
907-330-8275 | 1-800-478-2432
apetroni@ahfc.us