They will be leased to families earning $26,400 to $31,600 a year, depending on family size, at rents of $660 to $790 a month.

As a result, leasing the supermarket at rents commensurate with construction costs, which was necessary for the project to move ahead, proved difficult.

All have been leased at monthly rents of $487 to $725.

The building is currently 80 percent leased at rents ranging from $10 to $17 a foot.

By reducing construction costs through the sale of tax credits, the developer is able to lease apartments at lower rents.

Under these so-called Stark laws, hospitals are required to lease space at fair-market rents.

The remaining 203 houses - appliances are being installed in the last of them now - have been leased at rents averaging $300 a month.

The 151 rental apartments, which are similar in size, have all been leased at rents of $1,950 to $4,100 a month.

Those older facilities, he said, will be leased at lesser rents than the new tall buildings can command.

Avalon is planning an adjacent 269-unit building, which it will lease at comparable rents.