Two entrepreneurs from Anchorage have begun the process to build 15 low-income housing units on Excel St. using federal tax credits.

Glenn Gellert and John McGrew expect to build the apartment building over three parcels on Excel St., which are owned by Lyle and Carol Bennett. The couple has been trying to sell the lots for the last three years. Lyle said the houses have been falling apart, and they have been looking to downsize. The three parcels contain the addresses 103, 105, 107 and 109 Excel St.

"Instead of taking care of three houses, we just want one," said Carol.

The Bennetts have...