Air Force finds housing solution
An innovative U.S. Air Force program is easing a housing crunch for military families at Elmendorf Air Force Base by turning to private developers to finance and build the housing.
Elmendorf is the fourth Air Force base in the country to take advantage of the program, called Private Sector Financed
The developer of the project is Aurora Military Housing LLC, jointly owned by the principals of Anchorage-based JL Properties Inc. and Hunt Building Corp. of San Antonio.
Davis Constructors Inc. and Osborne Construction Co. are the general contractors for the project, according to Aurora officials.
The $115.5 million project was financed with a $48 million loan from the federal government, another $48 million from the Alaska Housing Finance Corp. and private investors.
The first phase of the project, consisting of 120 new housing units, was completed last fall. It's part of a much larger series of projects that will end up with Aurora owning a total of 828 housing units on the base by the end of next year.
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