Cook Inlet Housing Authority Developing Senior Housing in Palmer
Cook Inlet Housing Authority is excited to be serving as developer for Chugach Colony Estates, a 31-unit senior housing development located in Palmer near the Palmer Pioneer Home. The Palmer Senior Center will own and operate the 33,000 square foot facility. Chugach Colony Estates will primarily serve Alaskans over the age of 55 earning 60% or less of area median income or between $16,350 and $33,780 annually. The primary geographic market area includes the City of Palmer and surrounding communities.
Twenty-five of the thirty-one units constructed will be one-bedroom apartments, while the remaining six units will each have two bedrooms. Twenty-eight of the thirty-one units will be rented for less than market rate to seniors of limited means. The remaining three units will be rented at market rates to contribute to the development’s long-term financial sustainability.
Chugach Colony Estates will maximize safety, comfort, and convenience for potential tenants without compromising financial feasibility. Ample common areas will provide space for community socialization. Units and common areas alike will be specifically designed to satisfy the unique physical requirements of senior tenants, and heated sidewalks will provide safe access to parking and other on-site facilities. Palmer Senior Citizens’ Center, Inc. hopes to develop a small park on an adjacent lot where senior tenants could walk and exercise.
The facility site, which is located off of South Chugach Street in the City of Palmer, is uniquely suited for the development of senior housing. It is located within a burgeoning senior district, which includes the Palmer Senior Citizens Center, the Palmer Pioneer and Veterans’ Home, existing senior housing facilities, and the Palmer Senior Citizens Center’s Adult Day Services facility. Located approximately one-quarter mile from downtown Palmer, the site will provide resident seniors with easy access to shopping, entertainment, and community activities.