30 Central Avenue

MADISON – 2017

HQM Properties, Inc. purchased this 4-family rental dwelling from a local landlord. The house was built in 1902 and required substantial renovations to bring it up to code for fire safety. A central monitoring fire alarm system and a fire suppression sprinkler system were installed. Other renovations included modernizing kitchens, replacing all flooring through the building, new HVAC & hot water heaters. This building has a 30-year deed restriction and offsets the Borough of Morris Plain’s state affordable housing obligation.

The total development cost for this project was $950,000 and was financed as follows:

HQM Properties, Inc. $750,000

Borough of Madison Affordable Housing Trust Fund $200,000