Initial design work is now underway for our Powder Reserve Master Plan, our largest residential development to date. This major project will let Eklutna, Inc. transfer the project management and construction over to Eklutna Services, LLC., the development arm of the Corporation. This project will consist of 1,560 single family homes and is anticipated to sell over three construction seasons. A town center with a commercial, retail and community support facility will anchor the development and add additional revenues to this already exciting project. A school site is identified and complements the development as well.

Eklutna, Inc. recently completed the final development of 97 lots in our premier residential development in Eagle River, Powder Ridge Subdivision. This development has been a phased project that started in 2000. Each season we have completed a phase, with Phases 1 through 4 consisting of 158 lots. Phase 5 and 6 opened to builders during the 2007 season. We are considering a different design and price point approach to Phase 7, with which we have a goal of providing another 34 home sites that will complete this development. Download the Powder Ridge plat, the Phase 5 plat, and the Phase 6 plat.

The Corporation has a second phase of Denaly II in preliminary design stage. This high end, large lot, residential development will provide 22 residential lots to the market when completed. Homes in this development are typically over the $1 million price range. This project was put on hold until the market rebounds to the 2005 levels of sales. This development is also available to other developers who may be looking for land for their next project.

Nestled into one of the most beautiful bends of the Eagle River Valley, Denaly Estates is becoming one of the areas most prestigious developments. Sensational views and value enhancing covenants are attracting some of the areas top builders and buyers.