Atheneum Invests $3.5 Million In Library Staff Housing

The Nantucket Atheneum has made a major $3.5 million investment to acquire new employee housing.

On Friday, Nantucket’s public library closed a deal to acquire two four-bedroom homes at 9 Cachalot Lane from Matt and Elizabeth Reinemo.

“The Cachalot Lane purchase was essential in ensuring that the island’s free public library and cherished historic landmark can continue to attract and retain high-quality, professional staff. Affordable housing remains a critical issue for many Nantucket institutions, and the Atheneum is pleased to offer a long- term solution,” the library announced on Friday.

Ann Scott, the Atheneum's head librarian and executive director, added: “We want to take good care of our hardworking staff who create year-round learning opportunities for the whole community. Their job is to empower and inspire, and our job is to empower and enable them to do the best work they can for this incredible community.”

Calling the housing need "urgent," library representatives said the deal was closed with "interim financing," and there were plans to launch a major gift initiative to pay off the debt.