Three Island residents walked away from the Tisbury selectmen’s meeting this past week with the opportunity to buy a home close to downtown Vineyard Haven for a dramatically reduced price.
The Island Housing Trust and MassHousing have closed on $1.12 million in financing for the seven-unit housing development, a former bed and breakfast in Vineyard Haven.
A recent benchmark housing needs assessment conducted by the Martha’s Vineyard Commission paints an increasingly dire picture of the Island’s housing crisis.
In 2005, the first housing bank initiative on Martha’s Vineyard won support from all six Island towns.
The West Tisbury affordable housing committee is looking for property to develop.
As voters in four towns prepare to weigh in next week on a wide range of issues at annual town meetings, one issue has dominated Island discourse: the proposal to create a housing bank.
Question, concerns and support were all expressed at a housing bank forum held to discuss the details of two warrant articles coming to town meeting floor this season.
