Homeownership Development Program (HDP)
The Homeownership Development Program funds nonprofits to build new, affordable single-family homes for low-income families outside Anchorage, aiming to expand permanent homeownership opportunities in Alaska.
Funder: Alaska Housing Finance Corporation
Due Dates (Anticipated): March 2027 (Full application deadline, projected)
Funding Amounts: Varies by project; supports acquisition and site improvements for new single-family homes through select nonprofit partners.
Summary: Supports the new construction of affordable single-family homes outside Anchorage via select nonprofit organizations to expand homeownership.
Key Information: Only certain nonprofits are eligible; funding is limited to projects outside the Municipality of Anchorage.
Description
The Homeownership Development Program (HDP) is a component of the HOME Investment Partnerships Program administered by the Alaska Housing Finance Corporation (AHFC). HDP aims to increase affordable homeownership opportunities by funding the acquisition of real property and site improvements for the new construction of permanent, single-family homes. Funds are distributed through partnerships with select nonprofit organizations, specifically targeting areas outside the Municipality of Anchorage. The program prioritizes the creation of decent, affordable housing for low-income households and leverages partnerships with organizations such as USDA 523 self-help homeownership program participants, Community Land Trusts, and Habitat for Humanity affiliates.
