Housing Nantucket Brings Four New Affordable Rental Homes Online, Two More Completed Shortly

 
HOUSING
NANTUCKET
75 Old South Road • P.O. Box 3149 • Nantucket, MA 02554 • Tel: 508.228.4422
 
PRESS RELEASE
*For Immediate Release*
 
 
Housing Nantucket Brings Four New Affordable Rental Homes Online, Two More Completed Shortly
 
Nantucket - September 25, 2017 -Housing Nantucket completed construction this summer of four new units of affordable rental housing, with two more units to be completed shortly. The units were created through Housing Nantucket's House Recycling Program, where donated structures are e relocated to land given to Housing Nantucket by the Town. The structures are renovated and leased at below­ market rates to island residents earning between 60-80% of the Area Median Income. Housing Nantucket will manage the units through its Affordable Rental Housing Program, which includes 33 rental homes at various island sites. All units will be available to the community at affordable rates in perpetuity, ensured through permanent deed restrictions.
 
 
Key community leaders involved in this significant accomplishment include: the Nantucket Board of Selectmen; the Nantucket Housing Authority; Community Preservation Committee; the Affordable Housing Trust Fund; and the Nantucket Planning Board. Donors to Housing Nantucket's Community Investment Tax Credit program provided supplementary financial contributions.
 
 
"In high-cost  communities like Nantucket,  rental homes are often the only financially realistic option for low-  and moderate-income families," said Anne Kuszpa, Executive Director of Housing Nantucket. "Housing Nantucket 's rental homes meet an important aspect of the island's diverse housing needs. We are incredibly grateful for support from the Town and from the community.  Yet, the need is far greater. There are more than 160 households still waiting for a Housing Nantucket rental opportunity.  We still have a lot of work to do."
 
Housing the Nantucket Community Since1994 housingnantucket.org
 
Affordable Rentals House Recycling Advocacy Covenant Homes Education Resources
 
The deficit of workforce housing is widely recognized as the most pressing issue facing the Nantucket community and is a source of hardship for many individuals and families. A lack of housing for employees impedes business performance and growth, degrading the Nantucket experience for residents and visitors alike.
 
 
The dwellings were built in two locations: 73A Old South Road and 18 Ticcoma Way. The rental unit at 18 Ticcoma Way is a one-bedroom apartment converted from a garage. Summer residents Scott and Laura Stuart donated the structure, which was relocated from their property in Pocomo. Builder Ron Winters and his Thirty Acre Wood team ensured the construction process went off without a hitch. Housing Nantucket selected the tenant by lottery, and the tenant moved into the unit in July. The unit is eligible for state's Subsidized Housing Inventory (SHI) list.
 
 
The 73A Old South Road structure contains three, two-bedroom rental units. The building, which was originally built in 1910 and formerly located at 50 Union Street, was donated by the Berlyn family of Wochester, MA. Originally a duplex unit, the building was converted into a triplex to provide more affordable housing opportunities under one roof.  Stacy and Trevor Barrett of Barrett Enterprises oversaw the house-moving and construction process. Tenants were selected from Housing Nantucket’s Ready-to-Rent list and will move into the units October 1st.
"We are very excited,” said Plamen Dimitrov, one of the new tenants, moments after he signed his lease. "My wife and I have been looking for a different rental since our baby was born three years ago. Since then, we have all been sharing one bedroom in a tiny apartment.  We just weren’t willing to move to a moldy basement or pay $3,000 a month for a room in a shared house, which were the type of options available to us until we got this opportunity.  Housing Nantucket has taken care of us, and we appreciate it so much."
 
Housing Nantucket is the island's only non-profit organization dedicated to creating mixed-income rental and home-ownership opportunities for Nantucket residents.
Housing Nantucket follows a scattered-site approach, developing small-scale affordable housing dispersed around the island. Creation of Housing Nantucket's rental units is funded in part from donations to Housing Nantucket's Community Investment Tax Credit Program, in which Housing Nantucket provides donors with state tax credits in addition to the federal benefits of making a charitable contribution.
 
 
Contact Anne Kuszpa, Executive Director, at anne@housingnantucket.org or call (774)333-3927 for more information.