The new development, which is scheduled to open to residents a year from now, will feature 393 luxury apartment homes, consisting of studios, one-, two-, and three-bedroom units in a 14-story tower and adjoining townhouse buildings. A total of 6% of the units have been allocated as targeted for work force housing use.

AvalonBay officials estimate the construction cost for the venture, to be built at 27-29 Barker Ave., at approximately $155 million.

"We are excited to be part of the renaissance of Downtown White Plains and appreciate all the support and cooperation of the officials during the planning of this community. Situated just blocks from the heart of Downtown White Plains, this fabulous site is an example of a smart growth development that New York welcomes and that AvalonBay takes pride in delivering," says Rachel Loeb, development director for AvalonBay Communities.

Company officials note that each luxury unit will offer gourmet kitchens with premium appliances and granite countertops, washer and dryer, and central air conditioning. On-site amenities planned for the development include: a state of the art fitness center, outdoor swimming pool and deck, community room, library, children's play area, barbecue grills, outdoor eating areas and storage and 24-hour concierge service. The community will also feature a 535-space parking garage.

The development is Avalon's sixth rental housing project in Westchester County and its first in White Plains. The firm also has communities in: Bronxville, Elmsford, Mamaroneck and two in New Rochelle (one existing and one under construction).