During Pederson Hill land lottery, six lots available, six lots taken
The City and Borough of Juneau put six lots in the newly developed Pederson Hill Subdivision up for sale through a fixed price lottery and, following last night’s drawing, all six lots are spoken for. Winners are required to purchase their lot at the published appraised price; sales will be finalized in the upcoming days. Two alternate buyers were selected in case a lottery winner decides not to finalize a purchase. In total, the lottery had 14 entrants competing for six lots.
“We’re excited and pleased to see a robust response to our offering. This was the first time the Lands and Resources Division has ever sold land through a lottery. The process was all unknown, but it went incredibly smoothly,” Lands Manager Greg Chaney said. “CBJ’s goal with the Pederson Hill Subdivision is to make land available to encourage more homes being built, and it looks like we’re accomplishing that. We believe the land is in competent hands to turn it into housing.”
These six lots totaling $815,000 in value are the first to be sold from the first phase of the Pederson Hill Subdivision. Eleven lots that remain will be sold by a sealed competitive bid process – five lots can be bid on individually; six lots can be bid on as a block. Bidding is open now and closes 4 p.m. on December 17. Bids will be open on December 18 and participants will be notified. 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.
CBJ initially designed the Pederson Hill Subdivision to be 86 lots developed in three phases, though the area could ultimately support up to 200 single-family homes.