Island Housing Trust applications for 48 OLD COURTHOUSE ROAD, SCHOOL EMPLOYEE HOUSING

School Employee Housing at 48 Old Courthouse Road, West Tisbury
Island Housing Trust (IHT) Philippe Jordi, CEO
P.O. Box 779 West Tisbury, MA 02575
info@ihtmv.org
(508) 693-1117

Project Category: The 48 Old Courthouse Road School Employee Housing project falls under the Community Housing CPA category. The 48 Old Courthouse Road project addresses the goal of creating permanently affordable rental workforce housing for public school employees island wide. The project achieves this goal by designing and building 8 rental apartments within 4 duplex buildings.
Funding Scope: The total project cost for 48 Old Courthouse Road is $4,519,711. Construction cost is $3,775,200. IHT is requesting $74,200 in Chilmark CPA funding from the community housing category as part of a total request of $1.4 million to all 6 island towns. These funds will be used to help pay for the construction of the rental apartments. In exchange for the grant funding, preference will be given to one
of the eight apartments to a Chilmark resident currently employed by the MVYPS or MVPCS earning 100% or less of the area median income.
Sources of private and public funds are:
• $123,690 from the Town of Tisbury CPC
• $21,280 from the Town of Aquinnah CPC
• $74,200 from the Town of Chilmark CPC
• $798,840 from the West Tisbury CPC
• $150,080 from the Oak Bluffs CPC
• $1,614,710 in Permanent Debt
• $1,345,000 in Island Housing Trust
• $160,000 in CLC and MassSave Rebates
Goals: The 48 Old Courthouse Road project addresses the goal of adding to a pool of the permanently affordable rental workforce housing for public school employees island wide. Unlike most communities
in Massachusetts, there is a very limited amount of multi-family housing on Martha's Vineyard. Teachers and other school employees are finding it incredibly hard to afford permanent year-round housing. This has made it tremendously difficult for schools to attract and retain employees. We are seeking Chilmark CPA funds to help fill the funding gap and contribute to the town-wide support for this project to provide workforce housing for our island community
Community Need and Support: The project is critically needed to provide workforce housing for public school employee households. The school system is one of the three largest employers on the island. The MVYPS reports there are 568 school employees and the MV Charter School has approximately 83 employees. In a survey of approximately 120 MVYPS employees, the average salary for all employees is approximately $60,000 with a range of 30% to 150% AMI. Approximately 35% of the households surveyed are one-person, 40% are two-person, and 25% are three-person. Only 1.5% of the Island's total housing stock (11,604 units) consists of larger multifamily rental buildings of more than 5 units. There is a substantial demand for affordable rental units. The creation of permanently affordable rental apartments at 48 Old Courthouse Road in West Tisbury will help address the housing needs of families working in the public school system on Martha's Vineyard. The need for affordable rental housing island-wide has been well documented. The Martha’s Vineyard Housing Needs Assessment updated in 2020, recommends the creation of 50 units of affordable community housing per year, with 20% for affordable homeownership and 80% for year-round rental housing serving those earning 60% or less of the area median income - our most vulnerable population. The DCRHA has certified 296 households on their rental housing waitlist island-wide. Because the project is addressing a critical need for employee housing for the Martha’s Vineyard school system, both the MV Public School and the MV Charter School are highly supportive of the
project. IHT has been providing outreach to neighbors and abutters during the conceptual design process for the project to ensure compatibility with the neighborhood and the island’s vernacular
architecture. Affordable Housing Committees island-wide are in support of the project (please see the attached support letters from the AHC’s and school boards). 
Timing: The 48 Old Courthouse property was donated to IHT specifically to build affordable workforce housing for the Island’s public school employees. In December 2022, IHT acquired the property. In August
2023, IHT hired an architectural and engineering team to start conceptual design in October 2023. Permitting from the West Tisbury Planning Board (Multi-Family Zoning) and MVC will take place in the fall of 2023 with permits secured by end of the year. Design Development and Construction Documents will take place from November 2023 to February 2024. Contractor bidding will occur in March 2024, with construction start in May 2024 and construction completion in May 2025. An agreement will be entered into with the DCRHA for property and rental management services prior to the apartments being occupied by income-qualified tenants in the summer of 2025. We will be requesting Chilmark CPA funds during the construction phase of the project in the summer and fall of 2024.