The University of Alaska has published its plan to parcel out and sell about 32 acres of land it owns within Cordova’s Whiskey Ridge Drive Subdivision, and some city officials are pointing to the opportunity for more housing development.
The university aims to subdivide the land into more than a dozen different lots and sell them “at or above fair market value,” according to the public notice. The university also “intends to offer parcels for sale competitively or over the counter.”
Cordova city officials have briefly discussed the subdivision proposal, particularly emphasizing the opportunity of turning some of the lots into more housing.
Mayor Kristin Smith, who is also the executive director of the Prince William Sound Economic Development District, has noted the possibility of working with the Rural Alaska Community Action Program (RurAL CAP) – a nonprofit that helps build accessible housing.
“In contrast to the university selling to a private developer, who would likely be motivated to maximize her or his financial gain, supporting a sale of some of the property to RurAL CAP would allow RurAL CAP to have site control and oversee development of the property in partnership with future homeowners,” Smith wrote to the Cordova City Council in a July memo.
RurAL CAP’s mutual self-help housing program entails groups of six to 12 first time home buyers actually building their own houses. They work at least 35 hours per week under the supervision of a RurAL CAP construction supervisor to complete 65% or more of the total labor. Once all the homes are built, the participants’ manual labor – or sweat equity – eliminates the need for a down payment, and reduces their mortgage.
But, Smith said, RurAL CAP will only partner with Cordova if the city shows a real interest in the program.
“I mention this to the City Council because RurAL CAP will not pursue such a scenario without being invited by the community to be a partner in housing development,” the mayor said in the memo. “And RurAL CAP will need to demonstrate support from the city of Cordova to justify asking the University for a slightly lower than fair market value price for the land.”
Shae Bowman, an energy development specialist at RurAL CAP, told the Cordova City Council during its Aug. 6 meeting that the organization is ready to continue discussing the city’s long-term housing needs, and even a potential partnership moving forward.
She also said, however, that RurAL CAP is not able to take on another community until 2027.
Cordova City Council members are expected to further discuss the University of Alaska’s subdivision proposal at their Aug. 20 regular meeting.
Residents have through Aug. 22 at 5 p.m. to send the university comments on the proposal. They can be sent by fax at 907-786-7733, by email at [email protected], or by mail:
- Anchorage office: 1835 Bragaw St. Ste. 490, Anchorage, AK, 99508;
- Fairbanks office: 2025 Yukon Dr. Ste. 211, Fairbanks, AK 99775.
