AvalonBay opens luxury rental community in Piscataway

Nearly two years after announcing plans for a 36o-unit rental community in suburban Middlesex County, apartment giant AvalonBay Communities held a ceremonial ribbon-cutting for its project in Piscataway last week, Real Estate NJ reported. The outlet noted that the development, known as Avalon Piscataway, was 70 percent leased and 63 percent occupied as of May 16. The community at 37 Old New Brunswick Road is less than a mile from I-287 and within five miles of the Dunellen and Edison New Jersey Transit stations. Four-story elevator buildings, three-story walkups and multilevel townhomes with individual and private garages for some units all make up Avalon Piscataway, about 15 percent of which has been reserved for low and moderate income tenants. According to JerseyDigs, the 13-building property sought a LEED certification in 2017, having secured preliminary and final site plan approvals that summer. AvalonBay, an Arlington, Virginia-based real estate investment trust, earlier this year sought approval for a $300 million mixed-use development in Mercer County that would have 800 units, 50,000 square feet of open space and 37,000 square feet of retail in West Windsor. [RE-NJ]