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Elm Street Affordable Housing Available

There is an available unit in a townhouse development at 27 Elm Street for the first time since the original buyers moved in eight years ago.

A two-bedroom townhouse end unit that is part of an affordable housing development built in 2004 by the Madison Affordable Housing Corporation, a nonprofit offshoot of the Madison Housing Authority, is for sale.

The owner is moving to market rate housing, marking the first time one of the five townhouse units at 27 Elm Street will be available since the original owners moved in eight years ago.

The Madison Affordable Housing Corporation announced the availability in a news release and said the Housing Partnership for Morris County is administering the certification process and resale of the unit.

The price is $141,940, which gets the buyer "1,080 square feet, a full garage, two bedrooms, 1.5 baths, a large eat-in kitchen with dishwasher, living room and a basement storage room with laundry hookups," the announcement says.

The news release said the maximum gross incomes are $57,225 for two-, $64,378 for three- and $71,532 for four-person households.

Tanya Van Order, deputy executive director of the Madison Housing Authority, said it's a great opportunity for someone to own a home in Madison who otherwise wouldn't be able to afford it.

"It's a great opportunity," she said.

The Madison Affordable Housing Corporation currently is working to build three affordable homes at Orchard Street and Strickland Place.

For more information about the unit at 27 Elm Street and eligibility requirements contact Jessica Padilla at 973-659-9222 or jessica.padilla@hpnj.us.

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