River Point Village Apartments is a 26-unit affordable housing community located in Fairbanks, AK. Residents enjoy the convenience of being near the IMAX theatre, restaurants, and shopping, as well as, the University of Alaska Fairbanks. Downtown amenities, the Fairbanks International Airport, and Fort Wainwright, a U.S. Army Garrison, are all within a 15 minute commute from the property.
The property was built in 2004 and placed in service in 2005 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 25 units to be rented to income qualifying residents earning no more than 50% & 60% of Area Medium Income (AMI) limits, which are provided by the Alaska Housing Finance Corporation. The remaining unit is reserved for the on-site manager. The property is still within its initial tax credit compliance period.
Residents benefit from community amenities such as an on-site leasing office and maintenance staff, on-site laundry facility, playground, a community room, computer center, and social services. River Point Village offers one, two, and three bedroom floorplans that come with kitchens equipped with energy star appliances, large closets, single car garages, and a patio/balcony.