AvalonBay Communities celebrates opening of new apartments in Freehold

Real Estate Weekly, Nov 14, 2001

AvalonBay Communities, Inc. welcomed a host of local officials last week to celebrate the recent opening of Avalon at Freehold, its new luxury rental community located in this desirable Monmouth County Township.

The group of dignitaries gathered at the 296-apartment community on South Street to hear representatives of the Alexandria, Virginia-based developer/owner/manager characterize the new rental community as an important asset to the Township and its residents. AvalonBay also maintains a regional office in Woodbridge, N.J.

"Avalon at Freehold continues our commitment to creating upscale rental apartment homes that attract affluent young professionals and empty-nesters with disposable income that in turn has a positive impact on local businesses," notes Gary Steinfleld, vice president of development.

"It also stands as a prime example of an effective partnership between State, County and local interests. We are certainly grateful to all those agencies and individuals who lent a hand in making this community a reality, and with more than 75 apartments already rented, we are well on our way to a successful leasing program."

Avalon at Freehold is the ninth luxury rental community the company has developed in New Jersey, representing tens of millions of dollars in investment. Its entree into Freehold is one that was certainly welcomed by Freehold Mayor Dorothy H. Avallone.

"Some of Freehold Township's newest residents will enjoy a broad mix of quality housing provided by AvalonBay," Mayor Avallone stated. "We welcome them to our town."

More than 40 new residents have already moved in to Avalon at Freehold -- many of whom are relocating here from throughout the state, while others are returning home. The residents represent a broad mix of renter types, from young singles and couples to roommates to families.

The community offers one-, two- and three-bedroom residences with 12 distinctive floorplans renting from $1,201 to $1,921 a month. Three professionally decorated model apartments are open for public viewing. The apartments -- some with lofts -- are grouped in two story buildings on 42 of a 68-acre site. An elegant clubhouse has opened for residents' use, offering a state-of-the-art, 24-hour fitness center, a business center with copier, fax and two computer stations with Internet access; a kitchen and entertainment area. An outdoor heated swimming pool with sundeck will open for the 2002 summer season, while a tot lot and picnic areas with gas grills are also planned.

Each apartment home at Avalon at Freehold includes premium kitchen appliances, a private patio or terrace, generous closets and a full-size washer and dryer. A selection of apartments also come with an optional bay window and/or a fireplace. Detached garage parking is available.