The Alaska Mental Health Trust Authority is looking to sell a prominent waterfront lot in the capital city.
A report commissioned by the trust estimates the value of the 2.9-acre (1.2-hectare) lot at $3 million and concludes that selling is a more financially sound option than leasing and managing the property long term.
Wyn Menefee, the executive director of the Trust Land Office, says marketing will begin this winter leading to an auction.
KTOO Public Media reports the lot has been mostly vacant since 2007.
Sign Up and Save
Get six months of free digital access to The Herald Sun
Juneau City Manager Rorie Watt says he would have preferred quicker action. He says it took the trust a long time to conclude that a sale was "the right way forward."