Oak Bluffs, MA — A significant step forward in tackling the island’s housing crisis was celebrated recently as officials and community leaders broke ground on Tackenash Knoll, a new development that will bring 60 affordable and workforce rental homes to Oak Bluffs on Martha’s Vineyard.
The project—led by Island Housing Trust (IHT) and Affirmative Investments, Inc., in partnership with the Town of Oak Bluffs—represents the largest year-round affordable housing initiative in the island’s history.
“This groundbreaking marks a transformative moment for working families on Martha’s Vineyard,” said Philippe Jordi, CEO of Island Housing Trust. “With over 1,000 islanders experiencing housing insecurity, Tackenash Knoll offers hope and stability in the form of sustainable, community-focused homes.”
Funding the Future of Island Housing
Tackenash Knoll is supported by a robust and multi-layered financing package:
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$11 million in permanent and workforce housing financing from MassHousing
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$27.3 million through federal and state Low-Income Housing Tax Credits allocated by the Executive Office of Housing and Livable Communities (EOHLC)
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$6 million in direct funding from EOHLC
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$3.6 million from IHT
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$750,000 from the Town of Oak Bluffs
Stratford Capital Group serves as the tax credit investor and syndicator, while Rockland Trust Company is the construction lender.
“MassHousing is proud to support this much-needed investment in housing on the Vineyard,” said MassHousing CEO Chrystal Kornegay. “Tackenash Knoll will provide high-quality homes for a range of incomes in a location that is truly integrated into the community.”
Community-Oriented Design on Town-Owned Land
Located on a previously undeveloped 7.8-acre parcel owned by the Town of Oak Bluffs, the site was awarded through a competitive RFP process. The development is centrally located near a YMCA, skate park, ice arena, and Martha’s Vineyard Regional High School, just a quarter mile away. Public transit access ensures connectivity to Oak Bluffs, Vineyard Haven, and Edgartown.
The project includes:
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12 residential buildings:
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6 buildings with 3 units each
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5 buildings with 6 units each
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1 building with 12 units
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1 community building with management office, community room (with Wi-Fi), bicycle storage, and mailboxes
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Walking paths connecting to nearby open spaces and community facilities
The housing mix will feature 12 one-bedroom, 42 two-bedroom, and 6 three-bedroom apartments, built to resemble the architectural character of the surrounding area.
Designed for Sustainability and Affordability
Tackenash Knoll is designed to Passive House standards and will be 100% electric, with rooftop solar panels expected to offset all energy needed for heating, cooling, and hot water.
Of the 60 units:
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8 units will serve households earning up to 30% of AMI, supported by federal Section 8 subsidies
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8 units will be for households up to 50% of AMI, supported by the Massachusetts Rental Voucher Program
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27 units for households up to 60% of AMI
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9 units for households up to 80% of AMI
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8 workforce units for households earning up to 120% of AMI
“This development reflects the deep commitment of this community to address a housing emergency with scale, compassion, and sustainability,” said David Ennis, President of Affirmative Investments, Inc. “We’re proud to play a part in making it a reality.”
Team Behind the Project
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Developer: Island Housing Trust & Affirmative Investments, Inc.
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General Contractor: Dellbrook | JKS
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Architect: Union Studio
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Property Manager: The Community Builders.
Construction is now underway, with completion expected in phases over the coming months. Tackenash Knoll promises to be a lifeline for year-round residents of Martha’s Vineyard struggling to remain in the communities they serve.
