Oil money could unlock housing

Anchorage is pushing for $30 million from the state to kickstart a wave of new housing projects.

We’re talking places like the old Carrs on Gambell, parts of Midtown, and even Eagle River’s Powder Ridge. That one alone could bring up to 1,000 new homes. But right now, it’s stalled over something simple and expensive… pipes.

Developers say extending sewer, water, roads, and lighting is what’s killing these projects. And under current rules, they’re the ones stuck paying for it upfront. That cost gets passed down, which is exactly why housing keeps getting more expensive.

Now here’s the twist. Alaska might suddenly have hundreds of millions extra thanks to rising oil prices tied to global conflict. So Anchorage is trying to grab a slice of that while it exists and turn it into long-term housing supply.

City leaders are calling this a one-time shot to fix “stranded” land all over the municipality. The goal is simple. Lower the upfront costs, and more housing actually gets built.

The Assembly already approved the plan unanimously. Now it’s up to lawmakers to decide how much, if anything, they’ll fund.