2025

Sandpiper Place II Acceleration (Richmond Development)

• Developer: Richmond Development
• Number of Units: 7
• Type of Housing: Homeownership
• Town Subsidy: $3.1M short-term loan
• Completion Date: January 2025

Located within the Richmond Development, Sandpiper Place II is a homeownership opportunity for families earning up to 80% of Area Median Income. Richmond Development is building 7 homes for homeownership in this development. Six of the homes are at 80% of Area median Income and one (1) is at the 175% Area Median Income. The Affordable Housing Trust provided a short-term loan to accelerate the construction of these homes. The loan was approved in March of 2024 and Richmond will construct all the units by December 31, 2024 and pay back the loan.

In 2024, the Affordable Housing Trust Fund approved a short term loan of $3.1 million to accelerate the production of seven (7) homes for homeownership in the Sandpiper II Place development. Six of the homes will serve families earning up to 80% Area Median Income and one (1) home will serve a family earning up to 175% Area Median Income. The six affordable homes will be eligible for inclusion on the Subsidized Housing Inventory (SHI) list and the Certification of our Housing Production Plan (HPP), ultimately allowing the Town to apply for Safe Harbor at the end of 2024.

Pochick Avenue House Recycling – Housing Nantucket

• Developer: Housing Nantucket
• Units: 1 rental unit (2-bedroom)
• Income Limit: ≤150% AMI
• Town Contribution: $450,000 grant
• Completion: March 2025

Through the House Recycling Program, a relocated and renovated home now provides affordable rental housing for a year-round family.

2024

Violet Place Rentals – Richmond Company

• Developer: Richmond Company
• Units: 48 rental units (studio, 1-, 2-, and 3-bedroom)
• Income Limits: 70% AMI, 80% AMI, 110% AMI, 120% AMI, and market rate
• Town Contribution: $5,950,000 (grant and loan)
• Completion: February 2024

This development expanded affordable rental options, with half of the units income-restricted and the remainder at market rate. All units were added to our SHI List and contributed to the Town’s Safe Harbor status.

Gooseberry Place Rentals – Richmond Company

• Developer: Richmond Company
• Units: 55 rental units (studio, 1-, 2-, and 3-bedroom)
• Income Limits: 80% AMI, 110% AMI, 120% AMI, and market rate
• Town Contribution: $5,000,000 grant
• Completion: November 2024

The Gooseberry Place development added 55 rental units, with a mix of income-restricted and market-rate housing to support diverse community needs. All units were added to our SHI List and contributed to the Town’s Safe Harbor status.

2023

Benjamin Drive Homes – Habitat for Humanity Nantucket

• Developer: Habitat for Humanity Nantucket
• Units: 3 homeownership units
• Income Limit: 80% AMI
• Town Contribution: $1,346,000 grant
• Completion: March 2023

Three families became homeowners through this project, marking Habitat Nantucket's 14th, 15th, and 16th homes on the island. All units were added to our SHI List and contributed to the Town’s Safe Harbor status.

2022

Wildflower Place Rentals – Richmond Company

• Developer: Richmond Company
• Units: 24 rental units (studio, 1-, 2-, and 3-bedroom)
• Income Limits: 50% AMI, 100% AMI, and market rate
• Town Contribution: $2,600,000 grant
• Completion: June 2022

The Affordable Housing Trust Fund's grant accelerated the construction of 24 rental units, enhancing affordability by adjusting income restrictions for several units. The grant brought six 80% AMI units down to 50% and 6 market rate units down to 100% of AMI. The development is 50% income restricted and 50% market rate. All units were added to our SHI List and contributed to the Town’s Safe Harbor status.

2021

Beach Grass Duplex – Habitat for Humanity Nantucket

• Developer: Habitat for Humanity Nantucket
• Units: 2 homeownership units (duplex)
• Income Limit: 80% Area Median Income (AMI)
• Town Contribution: $1,089,331.71 grant
• Completion: 2021

This project provided two affordable homeownership opportunities in the Beach Grass neighborhood, supported by a grant from the Affordable Housing Trust Fund. All units were added to our SHI List and contributed to the Town’s Safe Harbor status.