ISLAND HOUSING TRUST FOUNDING CEO PHILIPPE JORDI TO RETIRE
Martha’s Vineyard, MA — [June 1, 2026] —
Island Housing Trust (IHT) today announced the retirement of its founding Chief Executive Officer, Philippe Jordi, celebrating more than two decades of transformative leadership and lasting impact on affordable housing across Martha’s Vineyard.
Jordi, a passionate advocate for affordable housing on Martha’s Vineyard, is retiring from IHT as the nonprofit he founded celebrates its 20th anniversary. Over two decades as CEO, he has built a strong foundation for IHT through his tenacity and skillful partnership-building with community stakeholders. The nonprofit has grown dramatically under his leadership, raising over $140 million to create nearly 300 permanently affordable homes by the end of 2027 across all six Island towns and providing stable housing for hundreds of year-round residents. The organization continues to expand its impact, with additional homes in development and a growing portfolio of rental housing serving more than 400 residents.Â
“It’s been really heartening to see families get the keys to their new homes, and to bring donors on tours of the properties to share what they helped to build,” Jordi said. “Our employees, our board, our partners, and our donors made this all possible. The hard work, focus, and dedication of staff and board members make IHT a model for others to emulate.”Â
Earlier this month, IHT celebrated the ribbon-cutting of 36 new apartments and 4 homes at Meshacket Commons built in partnership with the Town of Edgartown and Affirmative Investments. Two projects are also underway in partnership with the Town of Oak Bluffs: a 60- apartment neighborhood called Tackenash Knoll in partnership with Affirmative Investments, expected to open in 2027, and 12 affordable apartments at Bellevue Veterans Community in partnership with the Cape and Islands Veterans Outreach Center.Â
Under Jordi’s leadership, IHT built strong relationships with community leaders, housing agencies such as the Dukes County Regional Housing Authority, and nonprofits such as Martha’s Vineyard Hospital, Harbor Homes, The Community Builders and Habitat for Humanity. IHT has also worked closely with MassHousing Corporation and two dozen other investors to find innovative ways to finance projects with low-interest loans that allow IHT to move quickly to purchase available property and seed projects ready for construction.Â
Jordi said it’s those partnerships, saving capital by replicating energy-efficient house designs that fit within the neighborhoods and towns they are located, and finding innovative ways to finance projects, that have been the cornerstones of IHT’s success over the past 20 years.Â
“What former Board Chairs Richard Leonard and Doug Ruskin, current Board Chair Pamela Craven, and all the board members have done is incredible,” Jordi said. “This organization wouldn’t be where it is today without their hard work and dedication. I’m grateful to the thousands of individuals and foundations who trusted us and invested in our work, includingÂ
the town Community Preservation and Affordable Housing Committees, the state Executive Office of Housing and Livable Communities, and MassHousing.”Â
The 14-member IHT Board of Directors will honor Jordi at the nonprofit’s annual brunch on July 11 and at a separate 20th anniversary celebration on August 17. A $2 million fund is being established in his honor to sustain and accelerate the mission he championed .Â
“Philippe’s leadership has shaped the Island in profound and lasting ways,” said Board Chair Pamela Craven. “We wish Philippe and his family the best and are grateful as he leaves IHT exceptionally well-positioned to continue its mission of creating and stewarding permanently affordable homes for year-round residents.”Â
Despite IHT’s impressive efforts, there is still work to be done. Demand for housing on Martha’s Vineyard continues to exceed supply with roughly 10 applicants competing for every home. That’s why IHT has hired Isaacson, Miller, a Boston-based search firm, to lead the effort to find Jordi’s successor. Jordi plans to retire from IHT on March 31, 2027, or sooner, once a new CEO assumes leadership.Â
Jordi also led the development of IHT’s Vision 2030 strategic plan, which sets an ambitious course to create 200 more permanently affordable rental and ownership units by 2030. The plan also focuses on expanding affordable housing capacity, growing community support, and developing a strong, diversified fundraising strategy.Â
Jordi’s legacy is reflected not only in the homes built under his leadership, but in the strong institution he leaves behind—one that will continue to serve Martha’s Vineyard for generations to come.Â
About Island Housing TrustÂ
Island Housing Trust is a nonprofit community land trust and community development corporation dedicated to creating and preserving permanently affordable housing for year-round residents of Martha’s Vineyard.
Media ContactÂ
Elissa Turnbull
Communications & IT Director
eturnbull@ihtmv.org
- Philippe Jordi, who launched Island Housing Trust (IHT) 20 years ago, is retiring from IHT. There will be no changes in current projects or stewardship.
- A $2 million fund is being established in his honor.
- The board has engaged the search firm Isaacson, Miller to find his successor.
- Philippe and the board had initiated succession planning as part of a long-term strategic plan to ensure IHT’s mission continues.
- This planning ensures IHT remains positioned to secure housing for lower- and moderate-income families.
- Yes, Philippe is staying on to ensure current projects continue.
- He will remain until a new CEO is hired or March 31, 2027, whichever is earlier.
- The day-to-day operations remain “business as usual” to meet strategic objectives.
- IHT is on solid financial footing.
- Financial records are transparent and available to the public on the IHT website.
- The mission remains focused on creating, promoting, preserving and stewarding permanently affordable homes for a sustainable community.
- A $2 million fund in his honor will be announced to sustain and accelerate the mission Philippe championed.
- Tributes will be paid to his visionary spirit.
- He will be recognized at IHT’s 20th-anniversary party in August.
- A short film featuring Philippe’s leadership is currently in production to celebrate IHT’s first 20 years.
- The search firm Isaacson, Miller has already been hired.
- Search criteria are being developed with input from Philippe, the staff, and the board.
- The firm has extensive experience in recruiting leaders for nonprofits and housing organizations.
- Philippe has agreed to stay until a new CEO is hired.
- Both the board and Philippe are committed to ensuring the transition is smooth.
- No; current projects will continue and the strategic plan will remain in place.
- The new CEO and the current staff are expected to maintain IHT’s status as a preeminent provider of affordable housing on Martha’s Vineyard.
No. Stewardship and real estate maintenance are managed by a seasoned professional staff and experienced property managers.
The committee includes John Schaefer, Randy Parker, Bob Egerton, Lisa Berkower, and Jane Hawkes
Board Chair Pam Craven, Moss Hanrahan, Craig Barton, and Jason Mazar-Kelly will work with Philippe on the transition.
- No; donor support is critically important to sustain ongoing projects and provide stability.
- Donors can also choose to contribute to the $2 million fund created in Philippe’s honor.
Yes, donations will continue to be used for their designated programs and priorities.