Island Affordable Housing Fund
Affordable housing is a challenging issue statewide, which has reached crisis proportions on Nantucket and Martha’s Vineyard. There, what The New York Times called “hypergentrification” — extreme, rapid increase in property values — threatens the viability of entire communities, not just the disadvantaged. When year-round residents — teachers, hospital workers, local employees, the elderly — are forced out of the housing market, they have to leave the islands and cannot economically be replaced. Creative solutions are needed, with all three sectors as partners. IAHF is such—a highly flexible fundraising organization, formed in 1998 to stimulate and facilitate public and private projects to increase affordable rented and owned housing. First they raised $500,000 from business owners, who were sensitized by their employees’ increasing difficulty finding housing. With broader appeals IAHF today has 600 donors, and has assisted 135 rental units and 83 homeownerships. Last year’s grants helped 70 families. IAHF moves houses about to be demolished; they give $300,000 annually to the local housing authority’s programs; they help Habitat for Humanity build one house annually; and they are going to make it socially unacceptable not to support affordable housing on the Vineyard!

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