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AvalonBay Communities Inc. has broken ground for a luxury apartment community along State Route 79 in Monmouth County. The site is some 45 miles south of New York City and within a 30-minute drive to the Princeton/Route 1 office corridor and New Jersey shore destinations. Also nearby are Downtown Freehold (the Monmouth County seat), and the popular Freehold Raceway.

The project, known as Avalon Manor, will contain 296 apartment homes in 20 two-story direct-entry buildings. Nine apartment types, including one- to three-bedroom units, will be offered. Initial occupancy is expected in the first quarter of 2001, with build-out scheduled for the end of the year. Total development cost is projected to be $33.1 million.

AvalonBay Communities, with offices in Virginia and Massachusetts, owns or holds an ownership interest in 132 apartment communities containing 38,480 apartment homes in 12 states and DC.

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