<p>This month hospital employees will be able to live in renovated rooms in the former Hanover House in Vineyard Haven. A ribbon-cutting ceremony for the new project was held Thursday afternoon.
As of this month, 12 hospital employees will be able to live in affordable renovated rooms in the Hanover House in Vineyard Haven, and three more will live in efficiency apartments out back.
Former Vineyard Haven inn has been converted to workforce housing in a unique partnership with Island Housing Trust and the Martha's Vineyard Hospital.
Former Vineyard Haven inn has been converted to workforce housing in a unique partnership with Island Housing Trust and the Martha's Vineyard Hospital.
At a ribbon-cutting ceremony for the new project Thursday afternoon, hospital CEO Denise Schepici said the availability of new housing options had already prevented one certified nursing assistant from leaving her job at the Windemere nursing home due to housing issues.
“Attracting and retaining staff is a challenge we face every single day, and the lack of affordable housing affects our ability to provide professional health care,” Ms. Schepici said. “It’s already making a difference,” she said of the former inn, which will welcome new tenants later this month.
The renovated inn in Vineyard Haven marks many firsts for the affordable housing developers at Island Housing Trust. It’s the first Island Housing Trust project that uses a shared housing model; tenants will share a kitchen, dining area and living room space. Built specifically to house hospital employees, the project marks a first major housing partnership with another organization. It also marks a new opportunity for private investors to finance IHT projects through a partnership with Martha’s Vineyard Bank.
A crowd of selectmen, builders and hospital administrators took off their shoes at the door and congregated in the new kitchen, which features three oven units and two large refrigerators. IHT board member Dan Seidman lauded the shared housing model, which he said was common for earlier generations.
“It’s a model . . . that is now being brought back in vogue again so to speak. But my grandfather . . . in the early 1900s stayed in a YMCA in a single-room occupancy,” Mr. Seidman said, noting that individual bathrooms at the Hanover House make the model more realistic for modern tenants.
IHT bought the property last August for $1.85 million from Steve Pearlman, using short-term low-interest financing from private investors and foundations. With the launch of the MV Future Financing funds, investors can now contribute to future IHT projects with 10-year participation loans through Martha’s Vineyard Bank.
Crowd of selectmen, builders and hospital administrators attended.
Crowd of selectmen, builders and hospital administrators attended.
“The mechanism is the ability for an individual as a social impact investor to be able to purchase a participation in a larger loan,” said bank CEO James Anthony.
The housing trust also plans to renovate the neighboring Clarke House.
About $500,000 in improvements at the Hanover House included extensive renovation to the first floor shared areas, new heating units and sprinklers for fire safety. IHT executive director Philippe Jordi said much of the labor and some materials were donated or obtained at a reduced price from Island partners.
The hospital has leased the building for five years from IHT. Tenants will be selected and managed by hospital staff, who also manage other hospital housing.
“It doesn’t affect just our employees. It really affects our entire Island community because our employees take care of this entire Island,” Ms. Schepici said.
Comments
What other businesses will
bs obWhat other businesses will IHT be using tax dollars to subsidize employee housing?
Are the “other Island
Bulkington EdgartownAre the “other Island business” to which you refer non-profits? Are the other businesses of providing a rapid-response, 24/7, for stroke victims? Do the other businesses provide services for diagnosing DVT blood clots, or provide infusion services, MRI’s, CT Scans, and X-rays? Now, maybe the businesses to which you refer do these things. If they don’t, though, think about the very real possibility of having to go off-Island when one feels that little pain in one’s chest.
I get the question about what
Most people call me Sir Second Fanciest Rock in MAI get the question about what other businesses will be subsidized by the taxpayer dollars flowing to IHT. I can see an argument against this, and I'm still processing the costs and benefits myself. However, I do think this arrangment fixes a major flaw in the affordable housing solutions offered in the past. The taxpayer funded ones. All us locals have our own idea of what constitutes a critical employee or service, and those may run from police and fire, only police and fire, to education (mandated legally) and parks departments and town tax collectors and accountants. But we also probably have a list of people we know earn crummy wages and we need, and they work in the private sector. Maybe cashiers can be replaced by machines at the grocery store, but we are a long way from replacing shelf stockers. I might wish to guarantee, with my tax dollars, a yoga instructor (I don't, but you might). Anyhow, the problem with government sponsored simple affordable housing solutions is that anybody can apply and get an even shot at the handout. I dunno if you were born last night, but I wasn't, and I don't want my tax dollars going to cheap housing diluted by people who make a hundred and claim forty. Direct government affordable housing money goes to a lot of people who don't qualify in reality but do on paper. It seems this solution with IHT and the hospital gets around this issue. I count hospital workers and critical employees. If you do too, at least half those rooms aren't going to non critical tax dodgers, or even non critical honest tax payers. I want bang for my buck if I am going to fund affordable housing, and I want it all to go to critical members of our community. I get it if you are totally against affordable housing, and respect your opinion, but if one is for affordable housing, this is quite efficient.
How can anyone be against
charlie callahan so boston/edgartownHow can anyone be against helping people who can't afford a home here other than a self centered selfish person
Hopefully none, would prefer
Mark EdgartownHopefully none, would prefer housing be handled by private investment versus allocation of tax revenue from those paying property taxes. That being said, having first responders and a fully staffed medical facility is a good use of money in my opinion.
The Hanover House was
Island Housing Trust TisburyThe Hanover House was purchased and renovated by the Island Housing Trust using only private funding and financing. As mentioned in the article, the IHT bought the property last August for $1.85 million, using short-term low-interest financing from private investors and foundations. The IHT has launched a new social impact investing opportunity called MV Future Financing - a 10-year participation loan through Martha’s Vineyard Bank to repay their short-term investors. If you're interested in investing in permanent year-round rental housing solutions, please contact the IHT at 508-693-1117 or [email protected]
Add new comment