Vineyard Haven, MA – February 14, 2022 – The Rockland Trust Charitable Foundation awarded $50,000 to Island Housing Trust Corporation for the construction of Kuehn’s Way, a pocket neighborhood of 20 affordable housing rental apartments in Tisbury, MA. These apartments will be available to year-round working Martha’s Vineyard residents and their children.
On Martha's Vineyard, only 38% of the housing stock is available for year-round occupancy, contributing to severe shortage year-round rental housing for Island residents. Over 600 year-round homes over the past decade were sold to seasonal and investment property owners. Over 21% of year-round Vineyard residents are paying more than 50% of their income on housing costs.
“The work of the Island Housing Trust is crucial to supporting individuals and families in need of affordable housing on Martha’s Vineyard,” said Edward H. Seksay, President and Chair of the Rockland Trust Charitable Foundation. “We are honored to support the construction of the Kuehn’s Way neighborhood.”
The one, two, and three-bedroom apartments at Kuehn's Way are universally designed for increased accessibility, close to public transportation, and feature high energy efficient standards that will reduce energy bills for families and carbon emissions into the environment. This new neighborhood at Kuehn’s Way will serve 60 Island residents and their families currently experiencing housing insecurity with safe, stable, and affordable rental opportunities that will remain affordable in perpetuity.
“Rockland Trust has provided a tremendous amount of support over the years that has changed the lives of hundreds of Island families and residents” said Philippe Jordi, founding Executive Director of Island Housing Trust. “We are fortunate to have Rockland Trust as a community bank committed to our mission.”
Kuehn's Way is finishing construction this summer and is planning on opening the apartments for occupancy this fall. Island Housing Trust has worked closely with Martha’s Vineyard Commission, Dukes Housing Regional Housing Authority, and the Town of Tisbury to ensure that the project is meeting the needs of the community. They have also received state grant funding and financing from MassHousing’s Workforce Housing Program and the Department of Housing and Community Development’s Community Scale Housing Initiative and Rural and Small Town Programs.
About Island Housing Trust Corp.
Island Housing Trust is a non-profit Community Land Trust and Community Development Corporation that supports a diverse and vital community on the island of Martha’s Vineyard by creating and sustaining permanently affordable housing, both rental and ownership. By renovating and building quality homes that are affordable in perpetuity, energy efficient, easy to maintain and will last for generations. Our homes are both models of sustainability and environmentally responsible. We are sensitive to the challenges of our unique Island ecosystems. Our work enables our year-round residents to stay on the Vineyard to build a healthy, balanced life which in turn keeps their economic resources on Island.
About Rockland Trust Charitable Foundation, Inc.
The Rockland Trust Charitable Foundation focuses on six primary areas, including education, financial literacy, health and human services, youth programs, affordable housing, and community development. To date, the Foundation has distributed more than $8 million in grants to qualified non-profit organizations in the communities served by Rockland Trust. For information about the Rockland Trust Charitable Foundation, please visit www.RocklandTrust.com/CharitableGiving.
About INDB and Rockland Trust
Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. Rockland Trust was named to The Boston Globe's "Top Places to Work" 2021 list, an honor earned for the 13th consecutive year. In 2021, Rockland Trust was ranked the #1 Bank in Massachusetts according to Forbes World's Best Banks list. Rockland Trust has a longstanding commitment to equity and inclusion. This commitment is underscored by initiatives such as Diversity and Inclusion leadership training, a colleague Allyship mentoring program, numerous Employee Resource Groups focused on providing colleague support and education, reinforcing a culture of mutual respect and advancing professional development, and Rockland Trust’s sponsorship of diverse community organizations through charitable giving and employee-based volunteerism. Rockland Trust is deeply committed to the communities it serves, as reflected in the overall "Outstanding" rating received in its most recent Community Reinvestment Act performance evaluation. Rockland Trust offers a wide range of banking, investment, and insurance services. The Bank serves businesses and individuals through over 120 retail branches, commercial and residential lending centers, and investment management offices in eastern Massachusetts, including Greater Boston, the North Shore, South Shore, Cape Cod and Islands, Worcester County, and Rhode Island. Rockland Trust also offers a full suite of mobile, online, and telephone banking services. Rockland Trust is an FDIC member and an Equal Housing Lender.
