Anchorage, AK -- The Municipality of Anchorage (MOA) and Eklutna, Incorporated (Eklutna) have signed an amended Methane Gas Settlement Agreement that will bring more housing to Eagle River.In this amended settlement agreement, the MOA and Eklutna will work together to develop land near the Powder Ridge subdivision -- called Powder Reserve West – for residential development. “I am grateful to everyone at Eklutna for working with the Municipality over the years to get to an agreement that is best for everyone," said
Mayor Dave Bronson. “We have struggled to keep up with building demands over the years and that has contributed to a housing shortage and lack of affordable housing. Thanks to the continued collaboration with Eklutna, we are headed in the right direction."
The housing development will be completed in phases, and the timeline is dependent on the submittal of rezoning and platting applications by Eklutna, with approval by the Municipality. The first phase of development will be a minimum of 20 housing units.
“This amendment is the culmination of persistent, cooperative negotiating efforts between Eklutna, Inc. and the Municipality of Anchorage, longtime partners in progressing development throughout Anchorage. Amending the agreement sets the stage for Eklutna, Inc. to begin preparations for the largest, multi-phase housing development in Anchorage. We are confident the Powder Reserve West project will help fill the pressing housing needs facing our city," said
Eklutna, Inc.'s CEO Kyle Foster.
The final details of the project phases and development are still being planned, but work is set to begin once AWWU receives the federal funding that was appropriated to the Powder Reserve West subdivision.
Media Contact
Veronica Hoxie, Communications Director, Office of the Mayor
Veronica.Hoxie@anchorageak.gov, 907-615-1568
Kyle Smith, Director, Land Agreements, Eklutna, Inc, 907-696-9613
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