Search
 

AvalonBay is Building New Apartments

FREEHOLD TWP., NJ-Luxury community will add almost 300 rental units to the tight residential market in Central New Jersey.

By Eric Peterson | Updated on August 15, 2000

AvalonBay Communities Inc. has broken ground for a luxury apartment community along State Route 79 in Monmouth County. The site is some 45 miles south of New York City and within a 30-minute drive to the Princeton/Route 1 office corridor and New Jersey shore destinations. Also nearby are Downtown Freehold (the Monmouth County seat), and the popular Freehold Raceway.

The project, known as Avalon Manor, will contain 296 apartment homes in 20 two-story direct-entry buildings. Nine apartment types, including one- to three-bedroom units, will be offered. Initial occupancy is expected in the first quarter of 2001, with build-out scheduled for the end of the year. Total development cost is projected to be $33.1 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.