Town & Country Press
This Nantucket Gym Has a $120,000 Initiation Fee
After that, annual dues are $5,000.
SEP 23, 2015 @ 12:30 PM
by SAM DANGREMOND
How much would you pay to work out?
The EZIA Athletic Club, set for a soft opening next summer on Nantucket, will charge a $120,000 initiation fee to join as well as $5,000 in annual dues.
As the Inquirer & Mirror and Boston Globe first reported, the 11,000-square-foot indoor facility will include a fitness center, four squash courts, a spa, a golf simulator, and a snack bar. There will be an Olympic-size pool, spa pool, volleyball court, and a small chipping and putting green outside on the property.
Membership is limited to 250 families and 30 slots have already been filled with a pre-opening special initiation price of $60,000. The next 10 who join will pay $90,000, and then the $120,000 fee kicks in after that, said Isaiah Truyman, the founder and general manger.
Nantucket’s planning board approved the project, which is located on three acres on Old South Road near Nantucket Memorial Airport, last Monday. Not everyone was excited by the news.
“Catering to the rich and famous,” a reader wrote on the Inquirer & Mirror’s Facebook page, the Globe reported. “I think we need to deal with the drug problems & housing crisis first.”
But Truyman, who grew up on welfare in Western Massachusetts, says some of the criticism is unwarranted.
“We are elite, but we’re not elitist,” he said. “There are a lot of unhappy people who cry the one percent argument. People are talking about picketing the club … and I say you might be better off picketing the Ferrari dealership.”
The reality, he says, is that “the cost of purchasing land and building on Nantucket is one of the highest in the country, if not world world.”
“We could not do this without the summer residents—they are without question who we are creating this for,” he says, but “we are also planning to offer affordable memberships to year-round residents.”
The costly initiation fees, which are fully refundable if members decide to leave the club at any point, are necessary to make it financially stable, according to Truyman, who’s worked in 20 different fitness companies and spent 7 years in New York City at high-end locations like the Core Club.
“If you do the math on the $5,000 annual dues for four people, it’s about $100 per person per month,” he says, “so we’re not necessarily going after the one percent. We are catering toward a younger Nantucket family that has disposable income.”
The club also plans to offer non-profit programs including supporting local athletes. An Urban Squash program is one proposal.
According to Truyman, the initiation fees for several other clubs on the island range from $350,000 (The Westmoor Club) to $500,000 (Nantucket Golf Club), “so at $120,000 it’s actually one of the best deals in this town.”