Nantucket Housing Authority reports significant progress towards affordable housing goals

The Affordable Housing Trust Fund meeting held on May 20, 2025, in Nantucket, Massachusetts, focused on significant updates regarding housing initiatives and staffing changes within the housing office. The meeting began with a discussion on the impact of the committee's work on recent housing articles presented at the town meeting. Members emphasized the need for earlier engagement and the creation of promotional videos to better inform the community about housing developments.

The staff report highlighted several key updates. Bob Bostrowski was welcomed to the real estate and housing office, while Alice Ramos was acknowledged for her contributions before departing from her position. The team is currently interviewing candidates for summer internships to bolster staff coverage.

Updates on grants and loans were also discussed. The completion of Wiggles Way was noted, with residents beginning to move in. The lottery for Habitat's homeownership opportunities is currently open, and Richmond Development successfully closed on their last 80% Area Median Income (AMI) unit, allowing the trust to recover funds from a previous short-term loan used to expedite construction.

The Tacoma Green project was highlighted as it seeks an extension for its land development agreement. The project is progressing towards closing on financing and obtaining building permits, despite some delays due to environmental considerations. The committee confirmed that the project will be completed in two phases, contributing to Nantucket's affordable housing stock.

The meeting also addressed Nantucket's progress towards its affordable housing goal of 10% of total housing units, based on the 2020 census. The current percentage stands at 6.55%, with ongoing projects expected to bring this closer to the target by 2028. The trust has issued requests for proposals for vacant land it has acquired, with bids received for several sites.

In conclusion, the meeting underscored the trust's commitment to advancing affordable housing initiatives in Nantucket, with significant funding secured from the recent town meeting. The total funds received by the Affordable Housing Trust to date amount to approximately $148 million, reflecting the community's support for these vital projects. The next steps include continued collaboration with developers and further engagement with the community to ensure the success of upcoming housing initiatives.