Two major projects on the Island cleared key hurdles when select boards in Edgartown and Oak Bluffs awarded separate bids to the nonprofit Island Housing Trust (IHT) and its Boston partner.
Two major affordable housing projects on the Island cleared key hurdles this week when select boards in Edgartown and Oak Bluffs awarded separate bids to the nonprofit Island Housing Trust (IHT) and its Boston partner Affirmative Investments Inc. to build the developments.
Both projects are the culmination of years-long efforts, and both towns had recently issued requests for proposals (RFPs).
In Edgartown IHT and its investment partner were the sole bidders on a plan to develop 40 residential units on seven acres of town-owned land off Meshacket Road.
“This is a long time coming,” select board member Michael Donaroma said at a meeting Monday when the bid was awarded. “This is great news, things are moving forward.”
The cost of the project is pegged at $20 million, according to bid documents.
An affordable housing subcommittee did the first vetting of the project. IHT is the leading affordable housing developer on the Vineyard. Affirmative Investments is a Boston-based group which has helped develop over 6,000 units of affordable housing across the country, according to bid documents.
“The presentation was everything you could possibly hope for something that the town has been working towards for 15 years,” said select board member Arthur Smadbeck. Mr. Smadbeck sat on the subcommittee.
The current plan calls for building townhouses with space for 36 rental units and four owned units. Income eligibility requirements are specified, with rental units geared toward people earning 80 per cent of area median income and the owned units geared toward people with slightly higher incomes. Occupants will be chosen by lottery with preference given to Edgartown residents, who will be allowed to make up to 70 per cent of occupants.
The plan earned high praise from the subcommittee, town administrator James Hagerty recounted at the meeting. “The committee was specifically impressed with the affordability-mix, building design, attention to green space building practice, and financial preparedness. It is evident the development team paid special attention to environmental constraints at the site, and the resulting plan was approached with imagination and ingenuity,” Mr. Hagerty said, reading from a letter from the subcommittee.
The project next goes through an extended permitting and regulatory review process at the regional and local level. The projected completion date is 2025.
Meanwhile, in Oak Bluffs Tuesday the select board decided to enter contract negotiations with Island Housing Trust and Affirmative Investments for a 60-unit affordable housing development, setting in motion a long-awaited project at the 7.8-acre Southern Tier Housing property.
The board voted to accept a $31.6 million bid from IHT, over a second bid from Onyx Group of Boston. Affordable housing committee chairman Mark Leonard said the housing trust outperformed Onyx Group in seven of the 11 metrics the committee measured.
The recommendation to award the project to Island Housing Trust was unanimous, he said.
The board applauded the committee for its role in the decision-making process.
“It sounds like the group . . . you’ve had great interest in this,” board member Ryan Ruley said.
Board member Gail Barmakian lauded Dr. Leonard’s efforts specifically, noting he’s put a large amount of work into the project.
The board agreed, also voting to form a committee for the contract negotiations with Island Housing Trust that will include Ms. Barmakian and Dr. Leonard.
“In some ways, it’s the end of phase one and the start of a new phase,” Dr. Leonard said. “The work continues.”
Comments
Sounds great but for the next
Charlie Callahan so Boston/EdgartownSounds great but for the next five years the newbie snobs will do everything in their power to drag it out,by paying lawyers to come up with stupid excuses as to why it's a bad idea in those areas,like maybe they saw a painted turtle cross the street near there, doubtful that either one will ever get built,this has happened dozens of times before on the island and it's called NIMBY
As president of the board of
Doug Ruskin West TisburyAs president of the board of directors of the Island Housing Trust, I can say we are all more than pleased and quite thrilled to have the opportunity to help mitigate the affordable, year-round housing problem on the Vineyard. We are grateful this Thanksgiving to have been selected – twice! We have an extraordinarily dedicated team of professional staff who have the foresight to partner with others, equally well-qualified to expand our capabilities. Affirmative Investments, Inc. is just such a partner. We are excited and proud to be working with them. We thank the towns of Oak Bluffs and Edgartown for the opportunity and their faith in IHT, and the Island community for its support. Happy Thanksgiving to all of us!
On behalf of the entire
Philippe Jordi Martha’s VineyardOn behalf of the entire Island Housing Trust team who have been working over the past 15-years for this historic moment, we are honored to have been selected along with our partner, Affirmative Investments, by Edgartown and Oak Bluffs to realize these two important town led projects.
Philippe Jordi
Executive Director
Well done, Phillipe....now
Robert Wheeler Bellevue. WAWell done, Phillipe....now you just need approval by the towns and the legislature for a housing bank and you will truly be in great shape!!
Only on the Vineyard does
Laurence Fayetteville/EdgartownOnly on the Vineyard does "affordable" housing cost a half million per unit to construct.
*AND take over 15 years!!!!
Allison Edgartown*AND take over 15 years!!!!
No mention of further burden
George Stein Oak BluffsNo mention of further burden of waste water treatment facilities or public transportation
They could do small modulars
Charlie Callahan So Boston/EdgartownThey could do small modulars for 1/2 the cost,but that would definitely gey shot down
You right, and since the
just a thought mvyYou right, and since the promoters cant make their $$$ on 'common sense' modulars it wont happen.
Nobody wants rental units.
The duke The construction site called EdgartownNobody wants rental units. They want to own, no strings attached.
Completely agree. Single and
Johanna hCompletely agree. Single and double unit rentals are great for seasonal residents but more needs to be done in terms of a path to affordable home ownership for year round island families..
That is absolutely false. Not
DownislanderThat is absolutely false. Not everyone qualifies for a mortgage.
Interesting concept. Who are
Lorraine EdgartownInteresting concept. Who are the principals in Affirmative Investments of Boston? The principals should be named. Why did it take joining with an off island group to get this accomplished? As was mentioned, only on the island is affordable housing entry level half a million buckaroos?
Good question. What’s more
Johanna H EdgartownGood question. What’s more troubling (to me) is why was only one bid considered for the project?
What working couple or single
yuma cabana ChilmarkWhat working couple or single person has 15% saved, $75,000, to put down on a $500,000 townhouse and then pay $2700 a month for the next 30 years? Affordable? I guess if they start saving now and eat ramen noodles for the next 5 years, if and when groundbreaking starts, then it can be done.
A decent two bedroom in NYC
Mark EdgartownA decent two bedroom in NYC is over $6,000 per month in rent, everything is relative.
I applaud the efforts of IHT
MV Resident EdgartownI applaud the efforts of IHT towards fixing the housing crisis on this island because it is dire... However the biggest issue is the income limits that are set up to qualify. The amount of income individuals and families are allowed to max out at is way too low for the island. This makes the people who need housing the most, unable to attain it because they make “too much” for affordable housing but not nearly enough to buy anything in this competitive market. These are the teachers, police, nurses etc.... people our community needs that are not being able to be included in these affordable housing opportunities. It’s extremely unfortunate.
According to W site “Glass
Jill Turner W TisburyAccording to W site “Glass Door” the average salary for MV teacher is 67-73K/yr. Police Officer is 60K, and Nurses make 72K/yr. These are above state average. The teacher salary is well above state average. Considering the fact that education accounts for the bulk of annual taxes plus the fact that teachers work 182 days/yr. maybe it’s time for reboot.
I'm not a teacher and I only
Charlie Callahan So Boston/EdgartownI'm not a teacher and I only went to the tenth grade at southie high,but to the last commentor who said teachers make 70k a year which isn't bad off the island but here 70k is peanuts,they also went to college for four years and u can't buy a home on 70k on the island when the average price for a dump is around 600k
Exactly, maybe 70k sounds
Anonymous Marthas vineyardExactly, maybe 70k sounds like a decent wage but it will not get you even a fixer upper starter home on the island. Also, even if a decent home becomes available on the market that you could possibly afford, you are competing Almost immediately with so many other people who are buying as an investment and offering over asking, all cash. There’s just no chance for the working people on this island.
Also anyone who says teachers only work 182 days a year has no idea what they are talking about. Most teachers I know on this island work 3 jobs just to be able to stay living here.
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