SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* BLAIR BRYCE (Last) (First) (Middle) C/O AVALONBAY COMMUNITIES, INC. 2900 EISENHOWER AVE., SUITE 300 (Street) ALEXANDRIA VA 22314 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol AVALONBAY COMMUNITIES INC [ AVB ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) CEO
	3. Date of Earliest Transaction (Month/Day/Year) 07/27/2005
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $.01 per share	07/27/2005		M		34,400	A	$37.5016	201,233.048(1)	D
Common Stock, par value $.01 per share	07/27/2005		S		34,400	D	$87.0238	166,833.048(1)	D
Common Stock, par value $.01 per share	07/28/2005		M		25,600	A	$37.5016	192,433.048(1)	D
Common Stock, par value $.01 per share	07/28/2005		S		25,600	D	$87.0023	166,833.048(1)	D
Common Stock, par value $.01 per share	07/28/2005		M		6,528	A	$45.95	173,361.048(1)	D
Common Stock, par value $.01 per share	07/28/2005		M		1,976	A	$50.6	175,337.048(1)	D
Common Stock, par value $.01 per share								425(2)	I	Held in trust for minor children

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$37.5016	07/27/2005		M			34,400	03/08/1999(3)	03/08/2008	Common Stock	34,400	$0.00(3)	507,017(4)	D
Employee Stock Option (Right to Buy)	$37.5016	07/28/2005		M			25,600	03/08/1999(3)	03/08/2008	Common Stock	25,600	$0.00(3)	481,417(5)	D
Employee Stock Option (Right to Buy)	$45.95	07/28/2005		M			6,528	02/13/2002(6)	02/13/2011	Common Stock	6,528	$0.00(6)	474,889(7)	D
Employee Stock Option (Right to Buy)	$50.6	07/28/2005		M			1,976	02/12/2005(8)	02/12/2014	Common Stock	1,976	$0.00(8)	472,913(9)	D

Explanation of Responses:

1. The amount of securities owned following the reported transaction reflects direct ownership of all shares of common stock, including restricted shares.

2. No transaction reported. Indirect ownership provided for information only. Reflects shares of common stock held in trust for children.

3. The options exercised were included in options granted on March 8, 1998, which became exercisable in three equal annual installments beginning on March 8, 1999.

4. The number of derivative securities beneficially owned following the reported transaction includes options granted in various periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds 45,600 more options that expire on March 8, 2008 with an exercise price of $37.5016.

5. The number of derivative securities beneficially owned following the reported transaction includes options granted in various periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds 20,000 more options that expire on March 8, 2008 with an exercise price of $37.5016.

6. The options exercised were included in options granted on February 13, 2001, which became exerisable in three annual installments beginning on February 13, 2002.

7. The number of derivative securities beneficially owned following the reported transaction includes options granted in various periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds 61,472 more options that expire on February 13, 2011 with an exercise price of $45.95.

8. The options exercised were included in options granted on February 12, 2004, which become exercisable in three annual installments, beginning on February 12, 2005.

9. The number of derivative securities beneficially owned following the reported transaction includes options granted in prior periods with varying exercise prices and vesting dates. Following the reported transaction the reporting person holds 102,336 more options that expire on February 12, 2014 with an exercise price of $50.60.

Remarks:

	Edward M. Schulman, as attorney-in-fact under Power of Attorney dated January 1, 2000	07/29/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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