SAXMAN, Alaska, Nov. 05, 2025 (GLOBE NEWSWIRE) — WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, and Saxman Townhomes, LLC, which consist of Trapline, LLC, V2, LLC, Aspire Flight, LLC, and Onyx, LLC., have begun construction on Saxman Townhomes, a 20-unit affordable housing community in Saxman, Alaska.
Located on S. Tongass Highway, just 2.9 miles southeast of downtown Ketchikan, the development will serve families earning up to 30%, 50%, and 60% of Area Median Income (AMI). Thoughtfully designed for family living, the community will feature a balanced mix of units across four two- and three-story buildings, including two one-bedroom garden homes, 10 two-bedroom garden and townhouse residences, and eight three-bedroom townhouses. In addition, four unrestricted market-rate two-bedroom units will be available, offering residents both affordability and choice within the community.
With Saxman and Ketchikan’s limited population size and shortage of affordable rental options, the demand for housing has remained consistently high over the past decade. That demand shows no sign of slowing, as evidenced by significant waiting lists at the few existing affordable communities in the area long-term.
“Saxman Townhomes reflects the strength of WNC’s investment platform and our long-standing expertise in financing affordable housing nationwide,” said Anil Advani, Executive Vice President of Originations and Finance at WNC. “By leveraging the Low-Income Housing Tax Credit program and strategic partnerships, we are able to bring much-needed housing to Saxman and the Ketchikan Gateway Borough while also delivering stable, long-term value for our investors.”
Saxman Townhomes is designed with durable, high-quality finishes and modern conveniences that enhance value and minimize maintenance costs. Each unit will feature a full appliance package—including refrigerator, dishwasher, microwave, and range—along with resilient vinyl flooring and window treatments. In-unit washer and dryer installations provide additional appeal for tenants, while one-bedroom units will include dedicated storage space, strengthening market competitiveness and supporting sustained occupancy.
Beyond the individual residences, Saxman Townhomes will offer a range of on-site amenities designed to attract and retain residents while ensuring strong community value. Planned features include professional on-site management, a playground, and a dedicated picnic area that fosters a safe, family-friendly environment. Select two- and three-bedroom units will feature attached garages, adding convenience and appeal, while coordinated social services will provide residents with additional support, reinforcing sustained stability and occupancy.
“This is our 13th project with WNC,” said Glenn Gellert, Owner of Trapline Development. “They have been a good partner, willing to go into obscure places in Alaska to insure that safe, affordable, housing is available to Alaska residents.”
Saxman Townhomes will be financed through a combination of public and private funding sources, including construction and permanent loans from First National Bank Alaska, the Alaska Housing Finance Corporation, the Rasmuson Foundation, and LIHTC equity from WNC & Associates, Inc.
Construction is expected to be completed in 2027.
About WNC & Associates
Founded in 1971, WNC & Associates (WNC) is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $18.2 billion in assets across 48 states, including more than 1,800 affordable rental properties that house more than 1 million residents. With offices in 16 states, WNC has partnered with more than 400 developers and 125 institutional investors. To learn more, visit: https://www.wncinc.com/.
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