The Federal Home Loan Bank of Boston has awarded the Island Housing Trust a $390,000 grant through the Edgartown National Bank, the trust announced this week.

The money will go toward the construction of six rental apartments in downtown Vineyard Haven for low-income residents. The housing trust competed for the grant among 123 other applicants; a total of $15 million in grant money went to 32 recipients.

Funding for the project also came from West Tisbury and Tisbury, Charlesbank Homes, the Zeitgeist Foundation, Kuehn Charitable Foundations and private donations, a press release said.

Farley Built Inc. from West Tisbury is the construction contractor. The apartments are scheduled to be completed in June.