Switzenbaum & Associates has started construction on an $80 million multifamily development in Monroe, N.C., delivering the city's first four-story midrise apartment community. The project is planned for a 23.4-acre site at the intersection of U.S. 74 and Morgan Mill Road and is scheduled to open in Spring 2027. Upon completion, the property will add 275 rental apartments to the local housing supply.
The development's residential offering is designed around one- and two-bedroom floor plans. One-bedroom units are expected to range from 792 to 898 square feet, while two-bedroom layouts are planned between 1,133 and 1,211 square feet. Rents are projected to begin around $1,700 per month, positioning the property in the market's higher-quality segment. The midrise format will be supported by elevators, and the community will also include garages for resident parking.
Site design incorporates a mix of open space and recreational amenities. A three-acre natural pond with a fountain will serve as a central feature, encircled by walking paths and green space intended for passive recreation. Planned on-site amenities include a swimming pool, pickleball courts, and a putting green, along with a fitness center to support daily resident use. These features are aimed at creating a full-service rental environment on a larger suburban site.
The Monroe project reflects Switzenbaum & Associates' current development pipeline in North Carolina. The firm expects construction to begin on a separate site in Burlington, N.C., in 2027, with additional locations under evaluation. While specific details on the Burlington project and future sites were not disclosed, the Monroe development represents a near-term addition to the region's multifamily inventory, anchored by a defined delivery timeline and a clear initial unit program.
