Bid period now open for Pederson Hill Subdivision land sale
Seventeen single-family lots in the newly developed Pederson Hill Subdivision are for sale. The City and Borough of Juneau is selling six of the lots by fixed price lottery on December 10, five individual lots by sealed competitive bid and a block of six lots by sealed competitive bid due December 17.
Lots in this first phase of the Pederson Hill Subdivision range in size from 4,675 square feet (.11 acres) to 14,882 square feet (.34 acres). They generally face south and come equipped with electric, cable, telephone, and municipal water and sewer services. The streets have sidewalks and connect to the Kaxdigoowu Héen Dei (Brotherhood Bridge Trail) network via a new trail.
The Mendenhall Valley lots are accessible by Karl Reishus Boulevard, located off Glacier Highway across from Sherwood Lane. Fair market land values range from $120,000 to $148,000. Purchasers can make a lump sum payment for parcels bought in the sale or use CBJ financing, which requires a 10 percent down payment and the rest payed over 10 years.
The fixed price lottery will take place December 10 at 5:30 p.m. in City Hall Chambers. The first winner will be allowed to select a lot. Then, the next party drawn will select a lot. This process will continue until all the lots are chosen or there are no remaining participants. All winners will be required to purchase their lot at the published appraised price within 30 days. Learn more about the lottery, including details of each lot, in the sales brochure.
For the sealed competitive bid, bids are due prior to 4 p.m. on December 17. The qualified bidder with the highest bid for each lot, or the block of lots, will be named the apparent high bidder. Acceptable bids must be for at least the minimum bid price listed for each parcel in the sales brochure.
Read the full sales brochure, other relevant documents, and Frequently Asked Questions.
For more information, contact the Lands and Resources Division Office at 586-5252 or [email protected].