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GLENDALE, CA-Real estate investment trust AvalonBay Communities, Inc. has broken ground on its first apartment development in Southern California. The 233-unit project here is expected to be completed in the fall of 2003. It has a value of more than $50 million.

The Avalon at Glendale Court is a 5.12-acre project located at Central Ave. north of the Ventura Freeway. When finished the Avalon at Glendale Court will be the first apartment complex built in Glendale since 1989, according to Avalon Bay Communities Inc.

In the last five years, the Alexandria, Va.-based company has purchased and renovated 18 apartment complexes in Los Angeles, Orange and San Diego counties. AvalonBay said it has a goal of building 700 to 1,000 apartments annually in the region. Since opening its Southern California operations in 1997, Avalon has been searching for the best possible location in which to build our first new luxury community and is happy with the Glendale location of this project.

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