Frequently Asked Questions

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Holtan Hills is a newly proposed residential community that consists of 60.4 acres across three phases. This acreage is currently owned by the Municipality of Anchorage’s Heritage Land Bank (HLB) and will allow the creation of 39 lots in its first phase. Holtan Hills offers a “mixed density” design of potential units including small-lot condominiums, townhouses, duplexes and nine large-lot single family homes, creating options for different budgets. The community will also accommodate numerous accessory dwelling units (ADUs) that can provide direct opportunities for new, desperately needed workforce housing. 

CY Investments, LLC is the master developer of the proposed Holtan Hills community, with primary responsibility for securing planning and zoning approvals, as well as installing on-site infrastructure. CY Investments is not a homebuilder. The individual lots and homesites will be available to any homebuilder or private party, ensuring the most diverse opportunities for individual builders that otherwise would not be able to develop the entire community by themselves. All buyers will be required to follow the design criteria for the community ensuring its quality and aesthetics.

CY Investments, LLC is the master developer of Holtan Hills. Connie Yoshimura is a long-time Alaska resident and the sole shareholder of CY Investments. Over the course of 30 years of development, Mrs. Yoshimura has partnered with landowners and investors to develop more than 1,000 homesites across the Municipality of Anchorage and south-central Alaska. Some of those communities include Huffman Timbers, Potter Highlands, Sand Hill Reserve and the redevelopment of Coronado Park in Eagle River. Unlike most developers, Mrs. Yoshimura is not a homebuilder. Instead, she develops homesites that are “shovel ready” opportunities for private buyers and other homebuilders.

Heritage Land Bank (HLB) is an agency of the Municipality of Anchorage. According to their website​​​​, HLB’s mission is to ​​​​​“…manage uncommitted municipal land to benefit present and future residents of Anchorage, promote orderly development, and achieve the goals of the Comprehensive Plan.” In this mission, they identified the land referred to as Holtan Hills as a good opportunity to expand the local housing supply. Several attempts have been made to bring this land into productive use over the years. Among lands totaling more than 400 acres (identified in the original HLB Request for Proposal), CY Investments is proposing development of new residential units on only 60.4 acres in three phases over a period of multiple years. Heritage Land Bank will retain complete control over all remaining lands.

Holtan Hills provides the most immediate opportunity to develop new housing within a community that desperately needs it now. Many residents are genuinely concerned about the impact of out-of-towners purchasing (and increasing the price of) the limited existing supply of local homes. Holtan Hills will create needed space on the housing ladder, offering new lots for home construction and relieving some of this pressure. The proposal will also offer significant new job opportunities and help grow the local retail economy.

The Housing Ladder consists of all housing units of various sizes, types and price points in a market. The more “rungs” that exist on the ladder, the more space it creates for residents seeking housing. Expanding the housing ladder creates new move-up opportunities for others already in the market. As current residents move into new homes, more housing capacity is made available in the homes they are vacating. This process repeats itself across all levels of the ladder. In Girdwood, there are simply not enough houses available, which is why so many local residents have already expressed interest in purchasing homes within Holtan Hills. 

The new community will expand capacity on the Housing Ladder with new “shovel ready” lots. As a part of the new Assembly resolutions formally disposing of the property, one of the multi-family lots will also be dedicated to the Girdwood community for the creation of an affordable housing development. Additionally, several of the individual lots will accommodate ADUs which can provide new workforce housing that is extremely limited right now.

Holtan Hills is being proposed as an innovative public-private partnership that offers substantial taxpayer protections. Heritage Land Bank (HLB) is making the land available for development, which is consistent with their mission. Entitlement of the project and development of on-site infrastructure like roads, water, sewer, gas and electric will be done under the leadership and financial responsibility of CY Investments. Proceeds from the development will be split 50-50 between the parties. If this project is not successful, CY Investments, not taxpayers, will bear the financial responsibility.

Trails are very important to Girdwood residents, just as they are to the developer of Holtan Hills. Trails will be formally integrated into the community including access to the Athabascan Trail and the Historic Iditarod Trail. A 50-foot wide buffer is being created for the small section of the re-routed Iditarod Trail that travels along the property. Importantly, CY Investments is the only private developer in the region  to have built public trails, as they recently did with their partners in constructing a 1.5-mile trail in Potter Highlands.

Yes. Short-term rentals are prohibited in all single family and 50% of multi-family properties in Holtan Hills until such time as the Municipality adopts an ordinance otherwise regulating short-term rentals. This restriction cannot be amended without a 100% unanimous vote of approval by property owners.

Holtan Hills is currently undergoing a careful review, before any construction can begin. This process will include consideration by the Anchorage Planning and Zoning Commission in early 2026. This process requires public input, and nothing is more valuable in that process than an active community. You can learn more by contacting us at George@HoltanHills.com.