The Martha’s Vineyard Land Bank is the new owner of Arrowhead Farm in West Tisbury.
The 33-acre property off Indian Hill Road is known for its scenic views and equestrian center that offers riding lessons.
Charlene and Robert Douglas sold the property to the Land Bank for $4.4 million. The Douglases will retain a life estate while the Land Bank will maintain a trailhead and circumferential trail with public access.
Robert Douglas is the founder of the Black Dog, and was owner of the Vineyard Haven tall ship Shenandoah, which was recently donated to FUEL, a sailing education nonprofit.
At the end of the life estate, the Land Bank will seek to create a working farm on the property. This farm will be put out via public competition to lease the house and fields to a farmer with “established skills and abilities in agriculture, natural resource management, mechanics, and carpentry,” according to a Land Bank Facebook post.