New construction expands affordable housing opportunities in Valdez and marks the area’s first multifamily development in four decades
VALDEZ, Alaska, July 14, 2026 /PRNewswire/ — WNC & Associates, Inc. (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, joined Alaska Corporation for Affordable Housing, Trapline Development, and V2 Development to celebrate the grand opening of Blueberry Terrace, a new 20-unit affordable housing community located at the corner of Pioneer Drive and Clark Street in Valdez, Alaska.
Financed with 4% Low-Income Housing Tax Credits (LIHTC), Blueberry Terrace serves households earning up to 60% of Area Median Income (AMI) and expands access to affordable housing in a market that has seen little multifamily development in recent decades. The approximately $13.8 million project represents WNC’s second affordable housing investment in Valdez and its first newly constructed development in the community.
“Blueberry Terrace reflects the impact that strong partnerships can have in expanding housing opportunities in communities where affordable housing is in limited supply,” said Anil Advani, executive vice president of syndications at WNC. “We are proud to work alongside Alaska Corporation for Affordable Housing, Trapline Development, and V2 Development to help deliver quality housing that will serve Valdez residents for years to come.”
Built on a previously vacant lot, the development is the first multifamily newly constructed community completed in Valdez since the mid-1980s. The two-story property includes one-, two-, and three-bedroom units ranging from approximately 700 to 1,200 square feet.
Designed to meet the needs of residents in Alaska’s unique climate, the community features single-car garages for every unit and dedicated snow storage areas. Centrally located within Valdez, the property provides residents with convenient access to community amenities and services.
About WNC & Associates, Inc.
Founded in 1971, WNC & Associates, Inc. is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies—Community Preservation Partners, The Cooper Housing Institute, and Preservation Equity Fund Advisors—specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $21.7 billion in assets across 49 states, including more than 1,770 affordable rental properties that house more than 1 million residents. With offices in 18 states, WNC has partnered with more than 400 developers and 175 institutional investors. To learn more, visit: https://www.wncinc.com/.
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SOURCE WNC & Associates, Inc.