The borough plans to follow up on the successful sale of 20 lots at the Alder Top Village Keishangita.’aan subdivision this past winter and spring with offering four more lots for sale later this …
This item is available in full to subscribers.
To continue reading, you will need to either log in to your subscriber account below or purchase a subscription.
Please log in to continue |
The borough plans to follow up on the successful sale of 20 lots at the Alder Top Village Keishangita.’aan subdivision this past winter and spring with offering four more lots for sale later this summer.
An additional 16 lots could be available in the second phase of the development, but that would not be until next year.
The four lots planned for the auction block later this summer are directly behind (uphill) from the 20 parcels that sold, with access to the same streets and buried utilities that were constructed for the first phase of the residential development of borough-owned land facing Zimovia Highway, just north of Shoemaker Bay.
The lots will be ready to list as soon as the parcels are surveyed, Kate Thomas, the borough’s economic development director, said last week.
The 20 lots in Phase 1 were sold at publicsurplus.com, a privately operated website that sells land, equipment and other property for government agencies. The next four lots will be listed at the same online auction site.
Looking ahead to next year, the borough is considering a joint venture with a private contractor to develop the 16 lots of Phase 2, Borough Manager Mason Villarma said last week.
The idea is that the borough would install power to the lots, with a contractor to put in streets and water and sewage lines, he said.
“I think a joint venture is the way to go on Phase 2,” Villarma said. “It’s the quickest way to get it done without a ton of capital.”
The borough spent more than $4.2 million to clear and level the land, install utilities and build streets, raising about $1.35 million from the sale of the 20 lots in Phase 1. The average selling price for the lots, which run about a half-acre, was $67,400.
The 16 lots in Phase 2 are slightly larger.
The property is zoned single-family residential.
Borough officials and the assembly did not expect to recover the development costs on the subdivision. The intent was to make available more land for residential development in a town with a tight housing market.
The borough will see additional income now that the land and, eventually, homes, are added to the property tax roll.
The subdivision was carved out from the more than 130 acres the federal government gave to the borough in 1996.
The U.S. Bureau of Indian Affairs Wrangell Institute Native boarding school occupied the site from 1931 to 1975. The buildings were later removed and the land underwent an extensive environmental cleanup.