Year-Round Market Rate Rental Housing Trust Board of Trustees

The trust is established to create and preserve year-round rental units in the Town of Provincetown including, but not limited to, market rate units, for the benefit of residents of the town.

Harbor Hill Acquisition!

The Year-Round Market Rate Rental Trust Board of Trustees closed on the acquisition of Harbor Hill on September 4, 2018 and became the proud owners of 26 units. No acceptable bids were received in the September 2018 bid cycle so the Trust had to regroup and re-issue the Invitation for Bids. While doing that, Building #5 underwent renovations with the assistance of the Dept. of Public Works and local vendors. Building #5 came on line in May 2019. The Trust issued a second invitation for bids with the renovation contract awarded to NEI. The renovations of building #4, #6, and #7 began 7/29/19. Renovation was completed in the spring of 2020. With the assistance of the Property Manager, the Community Development Partnership [CDP], full rent-up was accomplished in October 2020. Harbor Hill remains at 100% full occupancy with a waitlist for interested parties.

Applications are now being accepted on a rolling basis with applicants added to the waitlist. Harbor Hill Application

A Capital Needs Assessment was completed in March 2020 by Capital Needs Unlimited pro bono for the Year Round Market Rate Rental Housing Trust to assist with property and financial planning. The Trust also hired Bev Gallo of Peregrine Urban Initiative to conduct a financial analysis Gallo Financial Analysis to explore all potential financial options for the continued provision of 28 year round homes and the successful operation of Harbor Hill.

Harbor Hill Updates

Harbor Hill & Trust Update 2020

Mission: “the trust is established to create and preserve year-round rental units in the town of Provincetown including, but not limited to, market rate units, for the benefit of residents of the town.”

History: On February 6, 2017, the Town of Provincetown voted to spend up to $10,700,000 to purchase and renovate 26 units of housing at Harbor Hill. On September 4, 2018 [14 months later than expected], the Town acquired title to the property for $8,101,620. The Trust received a $250,000 State Grant in October 2018 to create two (2) additional ADA Compliant Units (bringing the total number of units available from 26 to 28). After not receiving any acceptable bids, the Trust moved forward with renovating Building #5 while re-bidding the larger project and brought that building online and available for rental in May 2019. After two RFPs, the Trust hired the Community Development Partnership [CDP] as the Property Manager in January 2019. Following two invitation for bid cycles in a very hot construction market, the June 24, 2019 Special Town Meeting approved $492,000 in additional funding for the Year Round Market Rate Rental Trust allowing the construction contract with NEI to move forward. The primary renovation project was completed in April 2020. For future planning purposes, the Trust had a Capital Needs Assessment conducted by Dr. Nutt-Powell of Capital Needs Unlimited pro-bono in March 2020.

The Year-Round Market Rate Rental Housing Trust board held an update on the status of Harbor Hill on Wednesday, October 25, 2017 at Fishermen’s Hall at the School Auditorium.

The Power Point slides are available (PDF)

Mission & Authority:

Chapter 305 of the Acts of 2016 (PDF)