Avalon Ledges will include 304 one-, two- and three-bedroom apartment homes in ten, three-story buildings. Project costs will be $21.7 million for Avalon Orchards, which will be completed at the end of 2002 and $37.7 million for Avalon Ledges, which is expected to be ready for occupancy at the beginning of that year. Avalon Orchards and Avalon Ledges monthly average rents are expected to be approximately $1,685 and $1,645 per home, respectively.

Avalon Orchards is approximately 25 miles from Boston on Route 20 while Avalon Ledges is approximately 12 miles south of the city located near Route 3. Amenities in both complexes will include a clubhouse, a fitness center, outdoor pool and spa and picnic areas.

Alexandria, Virginia-based AvalonBay Communities Inc. currently owns or holds an ownership interest in 139 apartment communities in 12 states and DC, of which 13 communities are under construction and four are under reconstruction. The company develops and manages luxury apartment communities in high barrier-to-entry markets.