The Martha’s Vineyard Land Bank has purchased a small, one-acre parcel along the Tiasquam River in West Tisbury subject to a life estate, and will eventually open the property to the public.
The Martha’s Vineyard Land Bank has purchased a small, one-acre parcel along the Tiasquam River in West Tisbury subject to a life estate, with the intention to open the property for public access and naturalize the land after the estate concludes.
The sale price is $775,000, and the sellers are Ann Burt and her children, Patrick Burt, Percy Burt, Prudence Burt and Molly Reed, according to a release from the land bank Monday morning.
A small, 1.1-acre parcel off historic Music street, the property is addressed at 18 Tiasquam Road and includes a 1,200-square-foot, shingled, ranch style gabled home as well as grass and woodlands. The home dates to 1967.
“The life-estate arrangement allows Mrs. Burt to reside on the property for the term of her life; there will be no public access during that time,” the release from the land bank said. “At the end of the life-estate the land bank will undevelop the house and allow the 200-foot-wide riverfront area to revert to its natural vegetation. Upland areas will be maintained as a native plant meadow.”
The property is assessed at approximately $670,000, according to land records.
In the release, the land bank noted the property’s serenity and proximity to the center of town.
“The land bank envisions the property, which fronts on the stream for a length of 250 feet, as a quiet riverside respite not far from West Tisbury center,” the release states.
Within walking distance of the West Tisbury town hall, Grange Hall and library, the purchase will be the closest land bank property to downtown West Tisbury.
The land bank is a state-chartered, public land conservancy funded by a two per cent transfer tax on most arms-length real estate transactions.
Corrected to clarify that the land purchase is subject to a life estate.
Comments
Kudos again to the land bank,
Mark EdgartownKudos again to the land bank, we need to stop the overdevelopment of MV.
In which the Land Bank
Thomas Hodgson WTIn which the Land Bank removes yet another modest home from the Vineyard. The LB may not have a legal obligation to replace these houses they are buying and tearing down, but they sure as heck have a moral obligation to do so. And it is a moral obligation they are ignoring. Preserving land is wonderful, but the Island's people need preserving, too.
If you care about affordable
Lois Defrancis Fall RiverIf you care about affordable housing, you should be going after the towns and MVC to put a stop to turning every square foot of real estate into M mansions complete with swimming pools and garages/ guest apartments.
"Undevelop the house." I don
Mr. B Chilmark"Undevelop the house." I don't mind attempts to hide behind euphemisms, but this is simply silly. They will remove the house. Tear it down. Stuff its remains into dumpsters. Ship it off the island. Recycle the copper pipes. Make sure there is no sign that the Burt family or any other family ever, ever lived there. They will undevelop, to that extent, our memories.
My head started shaking as
rc dcMy head started shaking as soon as I saw "undevelop the house". According to spell check it's not even a word cause it's got that crazy squiggly line under it. A more carefully chosen way to describe bulldozing a house there is not.
Another example of the land
Bob EdgartownAnother example of the land bank driving up prices on Martha’s Vineyard. In this article they speak of two homes that will be demoed and forever removed from the housing stock on Marthas Vineyard. Homes that could be used for vacationers, summer residents, and of course Islanders or affordable housing. Does anyone else see the danger of what the land bank is continuing to do? The land bank it’s a double edge sword and It cannot be missed that they are one of the reasons the land values on the island continue to escalate beyond a normal persons salary to be able to afford.
The Land Bank is not driving
Peter Williams Oak BluffsThe Land Bank is not driving up real estate prices or preventing affordable housing. It's trying to preserve some small pieces of nature we have left for the health and recreational benefit of all. Modest houses are being bought by the dozen, demolished or gutted and added on to, to get max bedrooms and Mac air bnb money. This is what's killing the island and affordable housing.
Pretty sure the pace of
John W TisburyPretty sure the pace of development, including affordable housing, is more than keeping up with the removal of a few old houses to free up some for the shrinking wildlife habitat.
Thank you again Land Bank.
Vasha Brunelle Vineyard HavenThank you again Land Bank. When homes get un-developed the land will revert back to the animals(and plants) that were pushed out by human incursion. The LB does a great job surveying the habitat and planning for future use, which still includes us. Thanks to the LB there are forests and beaches open to everyone.
Have any of you actually read
Local MVYHave any of you actually read the state law that created the Land Bank to which it’s legally obligated to abide by? Maybe the Housing Affordability section of it’s website where they’ve been addressing these questions since 2009? Has anyone been to the “houses” on these properties? They are mostly run down and already used by Land Bank employees. It’s a Land Bank; not a housing bank. We have to create more affordable housing and there are many great, working models around the country to look to as answers but just reacting that an island agency with no authority, expertise or funding for affordable housing is being irresponsible is nonsense. Is the Farm Institute and Edgartown irresponsible because the town leases the Farm Institute to farmers and not building affordable housing too? There has always been an affordable housing issue here. The problem has become esp problematic b/c people that rented homes to workers now VRBO. Where’s the outcry over short term rentals too?
Exactly. Land Bank exists to
R Scott Patterson EdgartownExactly. Land Bank exists to preserve the land, hence the name "Land Bank". It isn't there to create affordable housing or vacation rentals and isn't the reason there is a housing shortage on MV.
Looking forward to exploring
Cynthia Roth AquinnahLooking forward to exploring this special property! MV is so lucky to have the Land Bank to keep this Island special, healthy, and beautiful. There are few places like this left.
The Land Bank is not the
Katherine Scott TisburyThe Land Bank is not the reason for the housing shortage on MV. It is also not the solution to the housing shortage on MV. It certainly seems worth considering retaining the house for staff or intern housing. "Undevelop" has an Orwellian ring . . .
I don't know this particular lot but I know that the whole Tiasquam area near WT village has many magical spots, and perhaps this is one of them. I hope the LB aims to acquire more land, or at least trail easements, along the Tiasquam, so that people might eventually be able to follow a trail along or parallel to the river all the way to Town Cove. Understanding the course that a river/stream takes is a great way to truly understand "the lay of the land."
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