Martha’s Vineyard is known as a dreamy summer getaway, attracting billionaires, celebrities, and even presidents.
But behind the idyllic charm, the island is struggling with a year-round housing crisis that’s making life harder for the people who actually live there — especially working families trying to stay.
A Bold New Solution: The Tackenash Knoll Affordable Housing Project
In response, local officials and housing advocates have launched a $50 million development called Tackenash Knoll in Oak Bluffs.
This is the biggest affordable housing effort in Martha’s Vineyard history, bringing 60 income-restricted apartments to a nearly 8-acre site near the ice arena.
The project promises a lifeline for around 200 residents and families who want to call the island home year-round.
Sustainable and Energy-Efficient Living
Island Housing Trust, working with Affirmative Investments, is leading the charge.
The new community will feature 12 buildings, all fully electric and solar-powered, designed to meet Passive House standards — meaning they’ll be ultra energy efficient and eco-friendly.
Philippe Jordi, CEO of Island Housing Trust, explained, “We build for the long term.
These homes are airtight, super-insulated, and use technology like air source heat pumps and solar panels to keep energy costs near zero.
That means affordable rent isn’t the only win — living costs stay low, too.”
Who Can Apply and When Will Residents Move In?
The apartments will be available to households earning between 30% and 120% of the area median income.
Rent will vary, roughly from $1,100 to $3,000 depending on income and apartment size.
Applications open in fall 2025, with move-ins expected by early 2026.
The High Demand and the Airbnb Effect
Jordi warns that demand will far outstrip supply.
“We usually get about 10 applicants for every available apartment — sometimes even more,” he said.
One major reason for the crisis is the explosion of short-term rentals like Airbnb, which have sucked up long-term rental options, squeezing locals out of the market.
Skyrocketing Home Prices Put Ownership Out of Reach
Owning a home here is even tougher. The median sale price on Martha’s Vineyard is around $1.5 million, which means middle-income families making $160,000 to $200,000 a year face a gap of nearly $600,000 just to buy a house.
Thoughtful Design That Blends with the Community
Tackenash Knoll isn’t just about numbers — it’s about fitting in.
The development sits near the high school, public transit, and community spots like the YMCA.
Jordi says it was carefully designed to match the island’s character so it doesn’t look like your typical affordable housing.
“We live here, so we know the island,” he said.
“In many cases, you wouldn’t even know it’s affordable housing.”
Strong Community Support Makes a Difference
Unlike many projects that face pushback, Tackenash Knoll was welcomed by Oak Bluffs residents.
The town prepared for years, voted on funding, and collaborated closely with architects to make the project a reality.
Navigating Complex Financing to Make It Happen
Funding wasn’t easy — it involves a mix of federal and state tax credits, bank investments, MassHousing support, private donations, and town contributions. Jordi calls it “fairly complicated,” but says the partnerships made it possible.
Growing Population and Seasonal Swells Add Pressure
The year-round population has risen from about 16,460 in 2010 to over 20,500 in 2023.
But in summer, that number swells to over 200,000, putting massive pressure on housing and infrastructure.
Celebrities Call Martha’s Vineyard Home But Locals Need Support
While stars like Reese Witherspoon, Bill Murray, and even former President Barack Obama enjoy the island’s beauty, the people who work and live there year-round face serious challenges. The Obamas’ sprawling 28-acre estate symbolizes the wealth gap amid the housing crunch.
More Affordable Housing Projects Are on the Horizon
Tackenash Knoll is just the start. Island Housing Trust is planning smaller developments including the island’s first veteran housing, employee housing for school staff, and ownership homes near the ferry in Vineyard Haven.
“We’re a scrappy nonprofit,” Jordi said, “but we’re finding creative ways to partner with towns and grow our impact.”
A Step Toward Keeping Martha’s Vineyard Livable for Everyone
For now, Tackenash Knoll offers a rare win in the ongoing battle to keep Martha’s Vineyard a place where working families can thrive — not just a playground for summer visitors.