Alexandria-based AvalonBay Communities has bought land in the East End where it plans to build a $43 million luxury apartment building at Fifth and G streets NW. It will be one of the first new projects that far east in Washington, as the real estate market pushes the frontier again.

The 220,000-sf, 12-story building is also one of the Alexandria-based developer’s first urban projects. To be called Avalon at Gallery Place, it will have 209 apartments, 150 parking spaces and three shops. It is scheduled for completion by the end of 2002.

AvalonBay bought the half-acre site earlier this month from Wilkes Co., which had planned to build its own apartment project there.

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