AvalonBay Announces 2017 Philanthropic Plans and Recaps 2016 Charitable Contributions

ARLINGTON, Va.--(BUSINESS WIRE)-- AvalonBay Communities, Inc. (NYSE: AVB) – a trusted name in multifamily housing – announced today its 2017 philanthropic plan to contribute $1.75 million in cash and in-kind support to advance the missions of non-profit organizations focused on providing affordable housing and supporting the disadvantaged in the local markets where the Company does business. The plan includes a third contribution of $250,000 toward a four-year $1 million commitment to the American Red Cross to further its purpose of helping those in need during times of natural and human disasters.

“One of AvalonBay’s long-standing core values is a Spirit of Caring, and our partnerships with local non-profits makes this value visible,” said Tim Naughton, Chairman and CEO of AvalonBay Communities. “Our 3,000 employees are proud to contribute their time and expertise to support more than 55 organizations through our Building Strong Communities philanthropy program.”

In addition to monetary contributions, AvalonBay has set a goal to exceed 10,000 employee volunteer hours and engage the Company’s over 140,000 residents in a series of charitable and community outreach events, including:

Blood drives at its apartment communities to encourage associates, residents and members of the community to reach a goal of 1,100 units of blood which can be used to potentially save 3,300 lives.
Community Preparedness Week to educate associates and residents on safety and disaster readiness and provide training and tips on CPR, emergency preparedness and disaster relief.
Spirit of Caring Month in May where employees will commit time and resources by participating in large-scale community service projects and conducting donation drives at its apartment communities.

The Company’s plans for 2017 build on a successful 2016, where AvalonBay exceeded its goal of giving 1,000 units of blood and contributing $1.3 million in corporate funding and in-kind donations supporting the American Red Cross and more than 55 non-profit organizations committed to providing affordable housing and support for the disadvantaged in the greater Boston, New York, Connecticut, New Jersey, Washington DC, Seattle, San Francisco, Los Angeles, Orange County and San Diego markets.

“We are excited about all we can do in 2017 to continue to make a difference for each of our local non-profit partners and the people they serve in the communities where we do business every day,” said Mark Delisi, Senior Director of Corporate Responsibility.

About AvalonBay Communities, Inc.

AvalonBay is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in the leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States. As of December 31, 2016, the Company owned or held a direct or indirect ownership interest in 285 apartment communities containing 83,667 apartment homes in 10 states and the District of Columbia, of which 27 communities were under development and four communities were under redevelopment. More information may be found on the Company’s website at www.avalonbay.com.

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AvalonBay Communities, Inc.
Kurt Conway
Senior Vice President
Brand Strategy & Marketing
703-317-4611

Source: AvalonBay Communities, Inc.

Released March 1, 2017