AvalonBay Opens 18th NJ Apt. Community

BLOOMINGDALE, NJ-AvalonBay Communities opened its first apartment community in Passaic County - its 18^th in the state - last week. Ron Ladell tells GlobeSt.com that not only is his company working on another in Wharton that will open next year, but it will soon begin work on communities in Bloomfield and in Roseland.

“The market is strong for a lot of demographic reasons,” says Ladell, the company's senior vice-president of development for New Jersey. “Demand will probably continue strong as the economy improves and younger people continue moving out of the family home.”

While Ladell sees some submarkets – the waterfront, for one – edging closer to the path of over-supply, these days his company primarily focuses on creating rental housing where supply is fairly limited. AvalonBay built its first community in Jersey City, AvalonCove, 16 years ago.

“We are not pursuing any sites in Jersey City/ Hoboken,” Ladell says. “We have been able to find success in towns looking for AvalonBay to revitalize certain sites in their communities. One of the reasons we like Bloomingdale is we don't  expect a lot of competition in the surrounding area,” Ladell adds. 

“It's a well-located community, right off I-287, but there is not a lot of apartment supply,” he says. The Avalon Bloomingdale, at 267 Union Avenue, had its grand opening last week.

The community has 174 one-, two-, and three-bedroom units, housed in wood-framed three-to-four story buildings and six townhomes. It includes a 4,600-square-foot clubhouse, fitness center, outdoor pool with a sundeck, landscaped grounds, and a barbecue and picnic area.

In Essex County's Bloomfield, AvalonBay will put up a 224-unit community across from the train station, as part of a downtown redevelopment. In Roseland, a 136-unit of rental townhomes is also slated to have a ground-breaking soon, Ladell says.

AvalonBay developments vary in style depending on the locale.