The island of Nantucket, due to its popularity as a resort destination
and the scarcity of developable land, is experiencing extremely high
housing costs. As is the case with many popular resort
communities, local workers vital to the island’s economy are
finding it almost impossible to find affordable housing. In early
2000, the minimum price for a vacant lot was estimated to be $180,000,
while the lowest price for a home on the market was nearly
$450,000. The situation has become so critical that many workers
commute to Nantucket by ferry or small aircraft. The Nantucket
Planning and Economic Development Commission (NPEDC) hired Jonathan
Rose Companies to investigate the issues, research potential zoning
tools and outline a strategy to provide affordable housing to
households of low to moderate incomes.
Jonathan Rose Companies prepared a report entitled Affordable Housing
in Nantucket which described the existing situation and outlined a
number of recommendations, including the creation of a Housing Office
and tools to expand the housing options for year-round middle-income
residents and seasonal employees. Building on the experience of Aspen,
Telluride, and other resort communities, the report recommended the
adoption of “resident only” housing, which involves the use
of permanent deed restrictions to maintain a viable stock of affordable
housing units for island residents and employees. Income and
residency guidelines were also proposed.
In early 2000, upon the issuance of the draft Comprehensive Plan, the
NPEDC asked Jonathan Rose Companies to return to the island, attend
several public meetings, and prepare a report on alternative ways to
structure the Housing Office and “resident only”
regulations. This follow-up work spurred the creation of an ad
hoc housing task force, and generated positive momentum for
implementing the Comprehensive Plan’s affordable housing
recommendations.
