AVALONBAY BOSTON REGIONAL SUMMARY
Current Boston Area Portfolio: 8,458 apartments in 25 communities.
Communities Under Construction: 1,679 apartments in 6 communities
representing an investment of over $550 Million.
Developments in Pipeline: 1,634 apartments in 5 communities
representing an investment of over $500 Million.
Since 1994, AvalonBay has developed 7,219 apartment
homes in 31 communities representing an investment of over $1.2 Billion.
Over 80% of these developments subject to Inclusionary Zoning.
AvalonBay Boston Regional Summary
Status: Under Construction
Capitalization: ~$100 Million +
Average SF: ~1,069
28-story high rise located in Boston’s Back Bay
Neighborhood. Development is the result of a 10+
year effort between AvalonBay and the City of
Boston as part of the Prudential Center
Inclusionary Zoning: Case Study
Mayor’s Executive Order for Affordable Housing:
15% of market units affordable, onsite
$200,000 per unit for 15% of units, offsite
AvalonBay currently owns 781 apartments at the
A unique opportunity to maximize affordable
housing program in the Back Bay.
Key Elements to expanding affordable housing
Under Mayor’s Ordinance, 15% of market units, or 24
apartments located on site.
Expand program by including more units on lower
Expand program by shifting apartments to existing
Result: Avalon Exeter program provides 46
affordable apartments, almost 2x’s the required
Avalon Stuart Street
Under Construction: 398 Apartments, 2015 Completion