It has been four long years, since we last saw many new homes being built on the Island but this summer, developers and contractors have decided to take the plunge. The much anticipated Grow Project is well on its way with 10 reservations for Phase One homes. Ferncliff Village with 20 homes a block north of the ferry is a limited equity community for income qualified buyers and has been extremely successful. On the corner of Ferncliff and Wing Point Way larger homes priced from the mid $500’s to mid $700’s are being built and most are sold or pending. The common denominator for many of these projects, proximity to town and the ferry. Being a “Townie” is desirable right now. The inventory is down to approximately 175 homes, over 100 homes less than last August. Buyers are watching new properties closely as they appear in the marketplace.