Island Housing Trust and Affirmative Investments Inc. secure $31 million for Tackenash Knoll

Oak Bluffs, MA The nonprofit Island Housing Trust and joint-venture partner, Affirmative Investments Inc., have secured $31 million from Rockland Trust for the construction of Tackenash Knoll, a 60-unit affordable housing neighborhood coming in May 2027.

“At Rockland Trust, we’re proud to support Island Housing Trust and Affirmative Investments, Inc. in their continued efforts to expand access to affordable housing on the Island,” said Kelly Nguyen, vice president and commercial banker at Rockland Trust. “Tackenash Knoll represents more than just new construction — it’s a lasting investment in the strength and stability of our local communities. We’re honored to play a part in helping those in need to find a place to call home.”

“Affirmative Investments, Inc. is excited to continue our strong relationship with Rockland Trust, Island Housing Trust, the Town of Oak Bluffs, and the Commonwealth to create 60 new affordable apartments,” said David Ennis, president of affirmative investments. “The Island has a tremendous need for homes that are affordable to households across the income spectrum and Tackenash Knoll provides a safe, affordable home to these individuals and families.”

Tackenash Knoll will be comprised of twelve, two- and three-story townhome-style buildings, containing a total of 60 rental units. Additionally, the neighborhood will include a small community center and 90 surface parking spaces. The residential buildings will consist of a mix of rentals, with three units in each of some buildings, five buildings housing six units each, and one building containing twelve rentals. The rental breakdown includes 12 one-bedrooms, 42 two-bedrooms, and six three-bedrooms. Each residence will have a separate entrance, maintaining a townhome style.

“Island Housing Trust in partnership with Affirmative Investments is excited to be breaking ground with Rockland Trust on the Town of Oak Bluffs’ Tackenash Knoll neighborhood of 60 new affordable rental homes” said Philippe Jordi, CEO of Island Housing Trust. Tackenash Knoll represents the largest neighborhood of year-round affordable housing on Martha’s Vineyard and comes at a time when over 1,000 working island families face housing insecurity.”

In keeping with the Island Housing Trust’s commitment to sustainability and affordability, Tackenash Knoll will be an all-electric community built with energy efficiency in mind. Rooftop solar panels will be installed on each building, supporting a cleaner energy future.

52 of the units will be designated as Low-Income Housing Tax Credit (LIHTC) units. The remaining eight units will serve middle-income households earning up to 120% of the area median income, creating a mixed-income community focused on long-term workforce housing solutions.