Local bank planning workforce housing

A render of the property after the proposed modifications are made. —Courtesy Town of Edgartown

Martha’s Vineyard Bank is looking to add three workforce housing units to a property in Edgartown. 

According to Martha’s Vineyard Bank president and CEO James Anthony, the proposed units at 7 School St. would be used for bank employees. 

The bank is planning alterations to the building, such as raising the roof height, adding another egress, and partial demolition for conversion into living space.

The property was sold to the Dukes County Savings Bank, the bank’s former name, in 1983 for $199,000, according to the Dukes County Registry of Deeds. 

The bank’s agent, Joanna Gosser from architecture interior design firm Synergy MV, was before the Edgartown Historic District Commission during its meeting on Thursday, June 1, when commissioners unanimously voted to hold a public hearing on the project. 

The bank will need to submit changes on the plans to the commission by June 15. The next meeting date the commission is available for a public hearing is July 6.

When asked whether the bank planned to acquire more properties for affordable housing, Anthony said, “Yes, we are actively seeking solutions to the critical need for year-round workforce housing.”

“Year-round workforce housing is a burden that is shared by all businesses and nonprofits in our community, and is a threat [to] the Island’s human infrastructure,” Anthony said. “It is people who define a community — people who build their lives here. The social fabric of our community is dependent on the working people who build, maintain, and protect the community. Our goal is to assure the bank’s unwavering commitment to the community for the next century. To achieve this goal, we need to secure year-round workforce housing.”


  1. Another local business steps up to provide affordable workforce housing for its employees. This is a fair solution to the so-called “housing crisis” that doesn’t involve a tax on Vineyard homeowners and a new bureaucracy to develop cheap housing on MV. The housing bank bill is completely uneccessary and is an anti-environmental boondoggle. Say “no” to the housing bank bill. Keep Our Island Green.

  2. Best Bank to work for I left because of housing. If I secure housing there is no other place I want to work for. I miss MV Bank 😓

    • You wont be saying that when your toilet backs up and you cant get a plumber because they can’t keep employees because they have no housing.

      • You won’t like over population and a huge increase in taxes because of the need for bigger schools and more services due to a workforce population. Off island living and commuting and a dedicated fast boat.

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