The rising costs of housing are hitting communities across the country. It’s an issue our region has been struggling with for decades. According to data from local real estate and housing agencies the median home price on Martha’s Vineyard is 1.5 million and on Nantucket a whopping 2.5 million. These prices make it impossible for nearly everyone but the extremely wealthy to afford home ownership or even rental housing. There are a variety of housing assistance programs across the Cape and Islands- we look specifically at a housing model that holds the land in trust and enables deed restricted home ownership to residents. This model has been in existence on the Vineyard for a decade, and is just getting started on Nantucket.
Joining us to talk more about the ins and outs of Land Trusts: Phillippe Jordi CEO, Island Housing Trust, Tucker Holland, Executive Director. Nantucket Land Trust.
Land trusts and affordable housing
