A 275-apartment development called Sycamore at Monroe is under construction along Morgan Mill Road south of the Monroe Expressway, with the project entity Switzenbaum & Associates, Inc. working toward a planned finish by the end of 2027. The city of Monroe lists the development, approved as a planned unit development on 23.44 acres, as currently under construction.
According to the City of Monroe, the Monroe City Council approved the rezoning on October 10, 2023, clearing the way for Switzenbaum & Associates to move forward with the five-building complex. The Monroe Planning Board had recommended approval of the rezoning request the month prior, as reported by the Charlotte Business Journal. As The Charlotte Weekly reports, the developer describes the project as an $80 million undertaking and Monroe's first four-story midrise apartment building.
Financing for the build came together this fall: Dwight Mortgage Trust originated a $48 million construction loan for the 275-unit complex, a deal that closed on November 20, 2025, carrying a 30-month term with two six-month extension options. That financing summary describes a project consisting of five four-story apartment buildings plus a clubhouse, with 115 one-bedroom units and 160 two-bedroom units. Per the same account, the property sits at 2601 Morgan Mill Road next to an onramp for the State Route 74 bypass, and Switzenbaum & Associates acquired the roughly 23-acre site earlier in 2025 for an undisclosed price — a figure that lines up closely with the city's listed 23.44 acres, though the exact acreage is described slightly differently across sources.
Floor Plans, Rents and Recreation
The Charlotte Weekly reports that one-bedroom floor plans will range from 792 to 898 square feet, while two-bedroom units will span 1,133 to 1,211 square feet, with rents projected to start around $1,700 per month. Planned amenities, per the financing summary, will include a pool, a fitness center, a putting green and pickleball courts. The Charlotte Weekly adds that the community is also expected to feature elevators, gated entry, garages for rent, a 3-acre natural pond with a fountain, walking paths and open green space, a resort-style pool, and an expansive fitness center with a dedicated studio.
Sam Switzenbaum, identified by The Charlotte Weekly as CEO of Switzenbaum & Associates, said the company aims to create rental communities that feel like home and do not require residents to compromise their lifestyle. The outlet also reports Switzenbaum saying the Monroe project serves a growing market whose fundamentals align with the company's development model and reflects Sycamore's continued growth. The Charlotte Weekly reports the developer chose Monroe because of Union County's growth and its proximity to Charlotte, and that Sycamore at Monroe is designed to bring the upscale, modern feel of urban Charlotte apartments to Union County, with green space and recreational amenities. The Charlotte Weekly further reports that Sycamore at Monroe will use the same plans as Sycamore at Christenbury.
Part of a Growing Sycamore Portfolio
Sycamore at Monroe follows two earlier projects from the same developer, Sycamore at Tyvola in Charlotte and Sycamore at Christenbury in Concord, per The Charlotte Weekly. Switzenbaum & Associates, founded by Sam Switzenbaum in 1995, developed Sycamore at Tyvola, a 288-unit, four-story, elevator-serviced community that was delivered in December 2018, according to Continental Realty Corporation. That property sits on about 31 acres with an average unit size of 1,042 square feet and was 95.5% leased when Continental Realty Corporation acquired it for $96.3 million in February 2023, a sale Switzenbaum & Associates completed with the assistance of Cushman & Wakefield, as noted by Multi-Housing News.
Sycamore at Christenbury, located in Concord, is a 275-unit community on 17 acres off Christenbury Parkway with five four-story buildings featuring interior corridors and elevators, according to WBTV. WBTV reported that amenities there include a resort-style saltwater pool, jogging trails, a clubhouse, a business center and a 24-hour fitness center, with one- and two-bedroom floor plans from 792 to 1,211 square feet and rents starting in the mid-$1,500s. The Charlotte Weekly reports that Sycamore at Christenbury completed lease-up within 12 months of opening.
Where Switzenbaum & Associates Goes Next
WBTV's earlier reporting noted that Switzenbaum & Associates was already eyeing new development opportunities in Monroe and Burlington and searching for additional markets and parcels across North and South Carolina for future Sycamore communities. The Charlotte Weekly reports that the company expects construction to begin at a Burlington site in 2027 and is evaluating other potential locations beyond that. For now, Sycamore at Monroe remains the company's active project along the U.S. 74 corridor, with the Dwight Mortgage Trust financing summary pointing toward completion by the end of 2027.
