Six Island residents were settling into new homes this week as the Island Housing Trust celebrated the opening of a new six-unit affordable housing apartment complex in downtown Vineyard Haven.
The Island Housing Trust and Martha’s Vineyard Land Bank paid $1.2 million for the property off State Road in Vineyard Haven, with a plan to build rental housing on part of the land and leave the remainder in conservation.
The Island Housing Trust annual meeting and forum Saturday focused heavily on the need for decent rental housing. “We have a crisis right now,” said Lisa McGuire, a business owner.
In an announcement made by Gov. Deval Patrick and the Department of Housing and Community Development, the Island Housing Trust and 43 other community development organizations were awarded more than $5 million in state community investment tax credits.
A lengthy public hearing process came to an end Friday morning, clearing the way for the Island Housing Trust to build a six-unit apartment building on Water street in Vineyard Haven. Lack of on-site parking was a sticking point.
The Vineyard has led the way when it comes to taking a regional approach on Community Preservation Act spending. That was the message from Stuart Saginor, executive director of the Community Preservation Coalition, when officials and residents gathered in Oak Bluffs on Tuesday to brainstorm ways for the six Island towns to more effectively share state funding for capital projects.
The West Tisbury selectmen Wednesday signed an agreement with the nonprofit Island Housing Trust to accept payment in lieu of taxes for three new apartments at Sepiessa.
Island Housing Trust, a nonprofit organization that develops sustainable affordable housing projects on the Island, was one of 38 community organizations awarded Community Investment Tax Credits totalling $3 million. The tax credits will be distributed by the Island Housing Trust to investors in exchange for donations.