Housing Nantucket Teams Up With Town On Latest Affordable Housing Project

The island affordable housing non-profit agency Housing Nantucket has purchased a property off Old South Road, which will become three permanently deed-restricted homeownership opportunities for Nantucket's year-round community.

The non-profit’s latest purchase is a partnership with the town's Affordable Housing Trust, which provided $2.23 million toward the acquisition of 7 Dooley Court and future construction costs, adding to a long list of deed-restricted housing projects created in part by the taxpayer-supported trust.

“Partnerships like this one let the Trust’s investment go further,” said Select Board vice chair and Affordable Housing Trust member Brooke Mohr. “By working with Housing Nantucket and a willing seller, we turned one property into three permanently restricted homes for year-round families. This is the model we want to see more of: public funding that supports private and nonprofit partners who can move quickly and deliver results.”

An existing four-bedroom home on the property will be renovated and made available to households making up to 250 percent of Nantucket’s area median income. Housing Nantucket will also build two new two-bedroom homes on the lot, which will be available to households at or below 150 percent of area median income.

According to a press release from Housing Nantucket, the project began when the homeowners reached out to Housing Nantucket before listing their property on the open market, hoping that it could be used to further year-round housing on Nantucket

“As local property owners, we're happy to have worked with Housing Nantucket, the Town of Nantucket Housing Department, and Town boards to help create three year-round housing units for the community,” the sellers said in a statement. “The process was straightforward, thanks to everyone's cooperation, and we hope our experience encourages other property owners to explore similar opportunities.”

All three homes, which will be sold using a lottery process, will be deed-restricted for year-round occupancy and will not allow short-term rentals. Interested residents can sign up for more information about the lottery here.

“What's novel for us about this project is how it came together,” Housing Nantucket executive director Anne Kuszpa said. “The property owners deserve a lot of credit. They could have simply sold to the highest bidder, but instead they explored how the property might benefit the community. Their willingness to work with us, combined with the Town's investment and cooperation, is what made this opportunity possible. I hope their example encourages other property owners to consider how they, too, might contribute to Nantucket's future.”

Construction on the project, which received approval from the Planning Board last June, is expected to begin later this year.