Rockland Trust Lends $31M for Oak Bluffs Mixed-Income Rentals
The nonprofit Island Housing Trust and joint venture partner Affirmative Investments Inc. secured $31 million from Rockland Trust for the construction of Tackenash Knoll, a 60-unit affordable housing neighborhood coming to Oak Bluffs on Martha’s Vineyard in May 2027.
“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 include 12 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. Eight of the rentals will serve middle-income residents, making the complex mixed-income.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout