Switzenbaum starts $80 million Sycamore apartment project in Monroe

Switzenbaum & Associates is building Sycamore at Monroe, a 275-unit, four-story multifamily project in Union County expected to open in spring 2027. The development extends the firm’s differentiated apartment model beyond Charlotte with larger floor plans, resort-style amenities and more suburban-style space.

Why it matters: - Switzenbaum & Associates is using Sycamore at Monroe to test a multifamily model built around larger units, more green space and amenities usually associated with private communities. - The project adds a new option in Union County as demand grows along the greater Charlotte corridor. - The development is designed to stand out in the Monroe and Matthews apartment market with features that go beyond standard suburban rental product.

What happened: - Switzenbaum & Associates is under construction on an $80 million apartment project in Monroe, N.C. - Sycamore at Monroe will include 275 apartments on a 23.4-acre site at U.S. 74 Bypass and Morgan Mill Road. - The project is expected to open in spring 2027. - The development is the city’s first midrise apartment building at four stories.

The details: - One-bedroom apartments will range from 792 to 898 square feet. - Two-bedroom apartments will range from 1,133 to 1,211 square feet. - Starting rents are projected around $1,700 per month. - Homes will include plank flooring and oversized windows for natural light. - Select units will include double sinks. - The community will offer elevator-serviced buildings, controlled-access gated entry and rentable garages sized to fit an SUV with room for storage. - A 3-acre natural pond with a fountain will sit at the center of the property. - Residents will have access to walking paths, open green space, a resort-style pool, pickleball courts, a putting green and a fitness center with a dedicated studio. - Switzenbaum says the Sycamore concept combines apartment flexibility with features such as gated entrances, large water features and abundant parking. - The company says the model is aimed at renters who want maintenance-free living without giving up comfort or security. - Switzenbaum & Associates is a fully integrated real estate investment, development and management company focused today on multifamily apartments. - The firm says its process is guided by integrity, transparency, creativity and performance. - More information is available at the company’s website.

Between the lines: - Sycamore at Monroe follows Sycamore at Tyvola, a 288-unit Charlotte community that sold for $96.3 million in 2023 to Continental Realty Group. - It also follows Sycamore at Christenbury in Concord, which completed lease-up within 12 months. - The Monroe project gives Switzenbaum a new foothold in Union County while keeping the brand tied to the Charlotte metro. - The company is also evaluating other locations and expects construction to begin on a Burlington, N.C., site in 2027.

What's next: - Switzenbaum expects Sycamore at Monroe to deliver in spring 2027. - The company plans to expand the Sycamore brand into additional markets where it can offer an alternative to conventional apartment living. - Other locations are under evaluation as the brand scales beyond its first two communities.

The bottom line: - Sycamore at Monroe is more than a new apartment complex. It is Switzenbaum & Associates’ latest attempt to turn a suburban multifamily project into a higher-amenity, more residential-feeling product.