FREEHOLD, NJ-AvalonBay, the Alexandria, VA-based residential developer, has officially opened its 296-apartment Avalon at Freehold. The luxury rental community was slightly more than 25% pre-leased at its opening, according to Gary Steinfield, Avalon’s vice president of development.

“Avalon at Freehold is part of our ongoing effort to create upscale rental apartment homes,” according to Steinfield. “Our goal is to attract affluent young professionals and empty-nesters with disposable incomes that, in turn, have a positive impact of local businesses.

The property is the company’s ninth in New Jersey. Avalon’s total investment hasn’t been disclosed, although Steinfield describes it as being in the “tens of millions of dollars. The company has a regional office in Woodbridge, NJ.

Avalon at Freehold’s units, some with lofts, are grouped in two-story buildings on 42 acres of a 68-acre site. On-site amenities include a freestanding clubhouse with a fitness center and a business center.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.