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Affordable Housing Trust reports progress toward 10% goal, endorses LAU submission and local preference for Sparks Avenue project
Summary
The Affordable Housing Trust presented a quarterly report showing progress toward the state's 10% subsidized housing inventory goal, described a year‑round deed restriction pilot, and the Select Board approved an LAU submission and a local preference letter for an AC Mid Island development at 18–26 Sparks Ave.
The Affordable Housing Trust told the Select Board on July 23 that the town's subsidized housing inventory (SHI) stood at 405 units, or about 6.55% of year‑round housing, and that the trust projects reaching roughly 590 units by the end of 2026 as projects under way complete. "Right now, we stand at 405 units. As I mentioned earlier, that's 6.55%," said Christie Ferentella, the town's housing director.
Why it matters: Under Massachusetts Chapter 40B and local housing policy, the town aims to reach 10% of year‑round housing on the SHI to obtain "Safe Harbor" protections that give the town more control over proposed affordable housing developments. The trust said its programs and recent town meeting approvals have accelerated production.
Key items from the quarterly update included a description of new funding and zoning tools approved at the 2025 Annual Town Meeting, including the seasonal communities designation, an inclusionary zoning bylaw requiring an attainable unit for every five in larger developments, and a home rule petition for a transfer fee on sales above $2 million to fund housing. The trust also outlined a year‑round deed restriction pilot: homeowners could accept a cash incentive in exchange for a perpetual year‑round occupancy and affordability restriction on their property; monitoring will be conducted by Housing Nantucket under a recent contract approved by the board.
The Trust also reviewed projects that have completed or are in development: Habitat for Humanity units on Waite Drive, Richmond Meadows rental conversions and Gooseberry Place rental completions, Tacoma Green rental development pending U.S. Fish & Wildlife clearance, and scattered‑site purchases for future development. Dylan Metchampel, deputy housing director, summarized production goals and program numbers for lease‑to‑locals conversions and other initiatives.
On a discrete item tied to production, the Select Board unanimously approved the town's execution of a Local Action Unit (LAU) application for AC Mid Island LLC, a mixed‑use development at 18–26 Sparks Ave. The developer plans to restrict eight of 32 units and is seeking SHI recognition from the Executive Office of Housing and Livable Communities (EOHLC). The board also unanimously authorized a letter requesting that up to 70% of the restricted units be offered local preference: applicants who are Nantucket residents, municipal employees, local business employees or households with Nantucket public‑school children would be first in the local lottery for units.
Christie Ferentella described a related Covenant Formation Assistance Program, a trust‑funded, 18‑month zero‑percent loan of up to $10,000 to cover initial legal/formation costs for covenant lots that create deed‑restricted homeownership opportunities; the loan is repaid when a covenant lot is sold, allowing the trust to recycle funds.
The board received the report and commended the trust and housing staff for adding units and launching new initiatives, and the Select Board signed the LAU paperwork and local preference letter to accompany the LAU submission. No funding actions were taken at the meeting beyond previously authorized appropriations.
Looking ahead: the trust said its goal is to add roughly 91 units toward the SHI by year end to move closer to the 10% Safe Harbor level. Staff said the new year‑round deed restriction pilot and monitoring contract with Housing Nantucket would be advertised for applicants shortly.
