Exact(23)
Fairfield Properties also has a 64-unit rental development under construction in Setauket called Fairfield Gables.
The company built more than 5,000 houses until 1972, concentrating thereafter on rental development.
The recession curbed condo sales and is now ushering in this latest round of rental development.
The suit was unsuccessful, and the 303-unit rental development is now being built.
The city foreclosed and turned the project over to a private sponsor as a rental development.
Another is a vacant site in Far Rockaway, Queens, bordering on the 1,600-apartment 1,600-apartmentl development.
Similar(37)
Financial filings by AvalonBay Communities, a national real estate investment trust that owns and develops rental developments in the New York region, illustrates the sagging demand seen by Ms. Ketive in Fort Lee as well as Jersey City to the south.
But at the same time, one large developer of rental developments said that rents have continued rising in its Long island projects.
Upscale rental developments are growing on Long Island, with developers eager to provide apartments for those willing to try the rental life style: young singles, executives on temporary assignments, couples not yet ready to buy, and empty nesters who want both inside and outside maintenance chores done for them.
Jefferson at Aberdeen Station, designed by EDI Architecture of Houston, is one of two major rental developments planned for Monmouth County.
"This is going to be the end of all the rental developments that were planned three to five years ago," he said.
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