AvalonBay to Develop 374-Unit Apartment Community in Somerville, New Jersey
SOMERVILLE, N.J. — AvalonBay Communities (NYSE: AVB), a Virginia-based multifamily REIT, will develop a 374-unit apartment community in Somerville, about 40 miles west of New York City. The community will be situated on 15 acres and will be part of Somerville Station, a transit-served, mixed-use development in the downtown area. Units will feature studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, courtyards with grilling stations, coworking space and a pet park. Somerset Development, the master developer of Somerville Station, sold the land on which the property will be built. Construction is underway and expected to be complete in the third quarter of 2023.