Richmond Planning Apartments to Meet Housing Demand

In 2014, there were 428 residential homes sold on Nantucket.The average sales price was $2,035,000, while the median sales price was $1,275,000. Those homes are out of the reach of most year round island families.

We want to use our properties and our development experience to help solve this problem, and we are trying to find the right balance that will allow us to build economically accessible homes and provide as many housing options as possible to people who live and work here year round. To that end, we are hoping to build a new residential neighborhood located off of Old South Road that will include about 60 new homes that are priced far below the average sale price on Nantucket.

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