(October 16, 2026) Housing Nantucket and the Town of Nantucket Affordable Housing Trust have partnered to develop three permanently restricted homeownership opportunities at 7 Dooley Court. The project will renovate an existing single-family home and add two new covenant homes, expanding homeownership opportunities for Nantucket’s year-round residents.

The Affordable Housing Trust has committed $2.23 million in grant funding toward the project’s acquisition and construction costs. The investment will help bridge the gap between development costs and attainable sale prices, ensuring that all three homes remain permanently restricted for year-round homeownership.

The project will include:
– One renovated four-bedroom, 4.5-bathroom home of approximately 2,220 square feet, available to an income-qualified household earning up to 250% of Area Median Income (AMI).
– Two newly constructed two-bedroom, 2.5-bathroom covenant homes, each approximately 1,230 square feet, available to income-qualified households earning up to 150% AMI.

All three homes will be sold through a lottery process and are subject to permanent deed restrictions that limit resale prices and require year-round owner occupancy. Short-term rentals will be prohibited.

A Partnership Built Around a Housing Opportunity

The project began when the property’s owners contacted Housing Nantucket before listing the property for sale. Rather than pursue a traditional sale on the open market, the owners wanted to explore whether their property could help address the island’s year-round housing needs.

Over several months, Housing Nantucket worked with the owners to develop an arrangement that would meet their needs while creating additional housing opportunities. After evaluating the property’s development potential and preparing a preliminary budget, Housing Nantucket approached the Affordable Housing Trust to explore a partnership.

The Trust’s commitment of public funding made it possible to move forward with a plan for three permanently restricted homeownership opportunities.

“Partnerships like this one let the Trust’s investment go further,” said Select Board Vice Chair and Affordable Housing Trust Member Brooke Mohr. “By working with Housing Nantucket and a willing seller, we turned one property into three permanently restricted homes for year-round families. This is the model we want to see more of: public funding that supports private and nonprofit partners who can move quickly and deliver results.”

Much of the credit for bringing this opportunity forward belongs to the original property owners. Their willingness to initiate conversations with Housing Nantucket and the Affordable Housing Trust and invest the additional time and effort needed to make the project possible helped turn a single property sale into a lasting community benefit.

“As local property owners, we’re happy to have worked with Housing Nantucket, the Town of Nantucket Housing Department, and Town boards to help create three year-round housing units for the community. The process was straightforward, thanks to everyone’s cooperation, and we hope our experience encourages other property owners to explore similar opportunities,” the sellers said in a statement.

The property was acquired through a direct transaction, not listed on the open market, which avoided real estate brokerage fees.

“What’s novel for us about this project is how it came together,” said Anne Kuszpa, Executive Director of Housing Nantucket. “The property owners deserve a lot of credit. They could have simply sold to the highest bidder, but instead they explored how the property might benefit the community. Their willingness to work with us, combined with the Town’s investment and cooperation, is what made this opportunity possible. I hope their example encourages other property owners to consider how they, too, might contribute to Nantucket’s future.”

Making Better Use of Existing Properties

The project will preserve and renovate the existing home while adding two new residences, allowing one property to provide housing for three year-round households. The two new covenant homes will be constructed in partnership with Nantucket-based Dreamline Modular Homes.

The project received Planning Board special permit approval in June 2026. Housing Nantucket is advancing the remaining design and building-permit work, with renovation and foundation construction expected to begin later this year.

Housing Nantucket will oversee the development, construction, and eventual sale of the homes. The Affordable Housing Trust will provide grant funding and project oversight to support the creation of permanently attainable housing.

The partnership also contributes to the expansion of Nantucket’s parallel real estate market, a distinct subset of housing that operates alongside the open market and remains permanently accessible to year-round residents.

Lottery Information

The three homes will be offered to income-qualified buyers through a fair housing lottery process. Eligibility requirements, sale prices, application deadlines, and lottery details will be announced as the project progresses.

Residents interested in receiving lottery information directly can complete an interest form at https://housingnantucket.org/homebuyer-interest-form/

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