IQP
team works with island group to create incentives for affordable
housing
September
6, 2016
Many
of us have a certain image of Nantucket (as it has been beatifically
portrayed in many a movie and the affable 90s sitcom “Wings”):
Independently wealthy; a haven for seekers of a simpler life; quaint
artisan shops, yachts and fishing boats bobbing just off its shores.
While
there’s no doubt the small island just 30 miles off of Cape Cod is
stunningly beautiful, thrumming with tourism, and a desirable
attraction for the well-to-do, it isn’t without its socio-economic
issues.
In
fact, because housing prices on Nantucket are six times the median on
the nearby mainland, about half the people who call it their
full-time home struggle to afford housing.
“It’s
a major problem for the island,” says Dominic Golding, associate
teaching professor and director of the Nantucket Project Center.
“There’s a major shortage of housing, and the housing that is
available is extremely expensive.”
But
with some help from WPI, it’s a challenge the island is (at least a
little bit) more equipped to tackle.
Based
on extensive research by an IQP team, Housing Nantucket, an island
nonprofit, has been able to secure certification as a Community
Development Corporation (CDC). That ultimately opens it up to receive
support from the state Community Investment Tax Credit (CITC)
program; it is now able to offer $150,000 in state tax credits to
financial backers, provided it can fundraise at least $300,000 a
year.
Essentially,
as Golding explained, it’s a “carrot” to potential donors.
Any
money raised through the CITC program will go directly toward
building and maintaining affordable rental units on the island.
Housing
Nantucket, which has been around since 1994, serves year-round
residents who earn between 50 and 150 percent of the Area Median
Income. According to the agency, homeownership is “prohibitive”
to about 90 percent of year-round residents.
As
Golding explained, it has a significant impact on the island’s
economy: Although 10,000 to 12,000 people live there throughout the
year, that swells to about 60,000 in the summer with the influx of
tourists and part-time residents. That increase equals more available
jobs--but few affordable (or available) places for workers to live.
“Every
person I talked to during my trip to Nantucket agreed that housing
has been, and still is, a very important topic that needs to be
addressed and soon,” says Nhi Phan ’17, a biomedical engineering
major who worked on the project. “I'm looking forward to seeing how
Housing Nantucket is going to push forward in the coming years and
how this project has helped them do so.”
Over
a 14-week period last year, Phan and two fellow students spent time
on and off the island researching its housing situation as part of
their IQP. That process involved learning about the CDC certification
process, querying locals and community leaders, and interviewing
other Massachusetts CDCs about their roles in their own communities,
their outreach efforts, and their operations. The project culminated
with an assessment of Housing Nantucket’s services and community
involvement, along with an outline on how to apply for CITCs, as well
as proposed recommendations to help secure CDC status.
“What
surprised me most was learning that housing is truly prohibitive to
the majority of Nantucket residents,” says Elizabeth Beasley ’17,
an actuarial mathematics major who also worked on the project.
“Housing prices on Nantucket are extremely high, as one might
expect, but there isn’t a range of low cost alternatives. So the
work that Housing Nantucket does to provide affordable housing
options is vitally important.”
Ultimately,
the project was beneficial not just for the residents, but for her
and her fellow students--specifically by illustrating how great an
impact an IQP can have on a community.
“I'm
glad that I had this opportunity to learn not only how to coordinate
as a team, but also to contribute to something much bigger than just
one term project,” she says, noting the exposure to real-word
problems that can be tackled with theory, practice and “great team
work. I'll carry these lessons with me as I start my career, and
remember that the work I do will impact not just a community, but
real people.”
-
By Taryn Plumb
Original story link.
No comments:
Post a Comment