Condo Project Will Add More Affordable Housing in Madison

MADISON, CT - Madison doesn’t have a lot of affordable housing in town but a new project will be adding some units overall, the Shoreline Times reports.

Currently, construction is underway on a 20-unit condo complex at 67 Boston Post Road, which will add 6 affordable units.

The state likes communities to designate 10 percent of its housing stock as affordable according to state guidelines, but Madison officials tell the Shoreline Times that is likely impossible due to a lack of available land.

Once this project comes online Madison will have 130 total units of affordable housing in town or 1.6 percent of its housing stock.

The developer says there is no difference in the quality of the units being constructed, just the sale price. For example, the new townhouses will go for between $409,000 and $515,000 while the six affordable units will cost just $135,000 to $268,000.

For much more on Madison and the topic of affordable housing, read the full report in the Shoreline Times.