Fairbanks borough opens land sales through new lottery and auction system
New zone to focus on recreation
FAIRBANKS, Alaska (KTUU/KTVF) - The Fairbanks North Star Borough has approved the sale of land that’s part of a new land use zone labeled as “rural recreation,” according to Borough Mayor Grier Hopkins.
The zoning is a first of its kind for the borough and sales of that land will be done in a new way as well.
The idea behind the new subdivision is to allow residents to acquire private land that will allow for non-commercial use.
As Hopkins framed it, it’s putting “public property into private hands.”
“The [borough] Assembly’s been looking at this for a number of years now, working with our staff and the previous administration, carried over into the mine and the current one,” Hopkins said.
The Assembly approved the sale two weeks ago.
Access to the lots for sale is only capable through a trail system.
“We have big 50-foot setbacks on all the different properties,” he said.
In total, 54 parcels ranging in size from over two acres to nearly 18 acres will be for sale, many in white spruce and mixed forests 38 miles north of Fairbanks, by the Chatanika River.
In addition to this land being sold under a new land use zone, it’s also being sold under a new system.
“We created a really creative three-pronged system of getting these parcels into private hands,” Hopkins said. “First one is going to be a lottery system, where people can buy a lottery ticket for $25 for one, or any, or all of the different parcels, and they can buy as many tickets as they want, but you can only win for one of the properties.”
If a buyer wins five of them, they must select which one they want and then the second or third-ranked person will get the chance to buy that property at fair market value through that lottery system, according to Hopkins.
The next two formats include a sealed bid auction and an online auction.
That sale will begin in mid to late-June and last 30 days.
“Those different prices will start at 90% of that fair market value,” Hopkins added.
These parcels are open to any resident of Alaska as well, not just borough residents, but non-residents will not be able to purchase these parcels.
While more information on the lots have yet to be put online, the borough plans to update its website with more information as its gets closer to opening the bidding period.
See a spelling or grammar error? Report it to web@ktuu.com
Copyright 2026 KTUU. All rights reserved.
