Dozens of Oyster Bay residents took to the streets Sunday to protest against the proposed building of an apartment complex. Many residents feel the development, a 300-unit luxury apartment complex, is inappropriate for the area. AvalonBay Communities is hoping to build the three to four-story complex on five acres of land on Pine Hollow Road. Some residents say it will create a traffic nightmare, destroy the character of the neighborhood and overburden the schools. Avalon says it?s not ready to give up on building in Oyster Bay. In a statement, Avalon Vice President Matthew Whelan says, ?Residents have very valid concerns and we?ve tried to address many of them and the process is ongoing and we are open to suggestions.? Residents say they?ll be meeting with Avalon representatives at a public meeting Wednesday night.