Matt Giammanco of AvalonBay Communities | Thanet Circle in Princeton | Suburbia Part II

American Building

Garden-style apartments offer residents the best of both worlds: green space and lower density living without the upkeep and price tag of a single-family home. In this episode, I trace back to the origins of garden-style apartments and highlight who lives in them now. I also revisit a conversation with developer Matt Giammanco of AvalonBay Communities to discuss Thanet Circle, a new multi-building garden-style apartment complex in Princeton, New Jersey.

Located in a suburban environment that is walkable, bikeable, and in need of rental housing, Matt shares how he and his team chose and developed this project. They saw the opportunity to redevelop a 1980s, vintage office building into a townhome neighborhood with a community clubhouse. Located on 15 acres of land, the four-story buildings are a secluded and quiet place for those looking for rental options in the Princeton area.

We also dive into AvalonBay’s regional approach to development and how they use local, on-the-ground knowledge to ensure the successful completion of their projects. Listen in to learn how this project was financed, redeveloped, and to discuss the technology that is being used today in the development world.

About the Guest:

Matt Giammanco is a Senior Director of Development at AvalonBay Communities. He previously worked at Goldman Sachs Real Estate Investment Group and began his career at Ernst and Young in their transactions real estate group. He is a graduate of Columbia Business School and Penn State.

Topics Covered:

• Key characteristics of garden-style apartments
• The intersection of race, class, and garden-style apartments
• Examples of how garden-style apartments fill the gap between affordable and luxury housing
• Why Princeton is a desirable town for development
• The benefits of public financing programs
• Affordable housing laws in New Jersey
• How Thanet Circle was financed

Resources Mentioned:

• Instead of a Balcony, How About a Garden Apartment?
• “The Suburbs” by Arcade Fire and the 2014 cover by Mr. Little Jeans on Spotify

About Your Host

Atif Qadir is the Founder of Commonplace, a company dedicated to tackling one of the biggest barriers to more inclusive, affordable, and sustainable development: improving access to capital. Commonplace helps impact-driven developers and capital providers with shared values discover and connect with each other.

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