In February 1989, NWAK established a sister organization the Anchorage Mutual Housing Association, creating a new affordable product to allow residents to participate in the management of their housing and accrue a limited equity position. In 1989, NWAK’s first Mutual Housing Association project was completed called Turnagain Circle. Residents were able to purchase a “share” in the development and accrue limited equity while paying modest monthly carrying costs. At this time, NWAK purchased 450 units for Mutual Housing, recognizing that “quality, affordable housing” was “still out of reach for many Anchorage residents.”
