AvalonBay Communities Inc. joined local officials and other dignitaries on Sept. 18 to mark the opening of Avalon Teaneck, a 248-unit luxury apartment community in Teaneck. — Courtesy: AvalonBay Communities Inc.
By Joshua Burd
AvalonBay Communities Inc. is off to a fast start at a new development in Teaneck, where it has already leased nearly 60 percent of its 248 apartments since launching the property in June.
The company last week unveiled the complex at 1775 Windsor Road, the former site of the World of Wings butterfly museum and now known as Avalon Teaneck. Public officials were on hand to tour the finished project, which has brought new market-rate apartments to the Bergen County township and includes 25 units that will be reserved for low- and moderate-income renters.
“For decades, Teaneck has really not had the opportunity for developers to come in and build high-quality rental housing,” said Ron Ladell, a senior vice president with AvalonBay and the company’s lead executive in New Jersey. “We and a few others saw the opportunity, we moved forward pretty quickly and, not only has the governing body been receptive, but we believed and confirmed that there was pent-up demand.”
Avalon Teaneck, the latest New Jersey property for the Arlington, Virginia-based developer, features layouts ranging from studios to three-bedrooms. Amenities include a modern, two-level fitness center, a large resident lounge with complementary WiFi, an expansive pool and pool deck and two additional courtyards with gas grills and tables.
Residents also benefit from the community’s proximity to Route 4 and surrounding highways.
“A few years ago, AvalonBay made a commitment to Teaneck to deliver a top-quality rental community where redevelopment and rental units was sorely needed,” Mayor Mohammad Hameeduddin said. “On behalf of the entire Teaneck Council, I am very pleased with the result as AvalonBay delivered on its promise and I look forward to a long-term mutually beneficial relationship with AvalonBay.”
Matt Giammanco, a development director with AvalonBay, touted another key selling point for Avalon Teaneck: The project and management team for the property includes a host of Teaneck and Bergen County residents. When employees are working in their own community and “have the chance to give back like this and commit themselves to their neighborhood and other residents, I think it elevates the community to a different level,” he said.
It is among several positives for a community that was already about 59 percent leased as of the Sept. 18 ribbon-cutting ceremony, which came just three months after the launch of leasing.
“While Ron and I — and I’m sure all of the council people — knew there was a lot of pent-up demand for this type of community in Teaneck, this has exceeded our wildest expectations,” Giammanco said. “We got off to a great start this summer — we had a dozen leases before we could even open the door to anybody, which is kind of hard to believe — but to be almost 60 percent leased is a true testament to the team that we have here and the community that they’ve helped build.”