Twelve years in the making, the complicated deal with the town, the land bank and the Howard B. Hillman family will create affordable housing, add conservation land and save a historic home in Chilmark.
Realtors on Martha's Vineyard and the Martha's Vineyard Land Bank are reporting that Island real estate sales are on the rise. For qualifying transactions, revenues per transaction from the last two years are also up.
The long-planned purchase expands the Wapatequa Woods Reservation, provides aquifer protection for the town of Tisbury and a greenbelt for residential neighborhoods. The land bank paid $1.5 million for the property.
The Martha’s Vineyard Land Bank reported revenues of $262,051 for the business week ending on Friday, Sept. 20, 2013. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.