Charlotte Developer Starts Construction On 320 Apartments in Indian Trail

Charlotte-based developer The Spectrum Cos. is underway on a large multifamily project in Union County.

Spectrum earlier this month started construction on a 320-unit apartment development in Indian Trail. The project is at 3115 Wesley Chapel Stouts Road, adjacent to the Sun Valley Commons commercial development. The first units at the new multifamily community will be ready for residents in early 2027.

“Our goal is to create a community that promotes more walkability, more enjoyment, and more connection for our residents,” said Craig Miller, senior managing director of The Spectrum Cos. “This location stood out for its superb accessibility to major employment centers, shopping and schools in Union County. We’re excited to provide quality apartment homes that reflect the needs and lifestyles of people who value both comfort and convenience.”

Spectrum’s community will include five elevator-served buildings with amenities such as a fitness center, coworking area, pool, dog park and putting green. A pedestrian bridge will be included with Spectrum’s project to connect residents to Sun Valley Commons. The neighboring commercial district includes tenants such as Stone Theaters, Starbucks, Hickory Tavern and Viva Chicken.

Spectrum has partnered with Chicago-based real estate investment firm Heitman LLC on the Indian Trail project.

“Spectrum’s ability to create properties that integrate seamlessly into communities, combined with the fundamentals of the Indian Trail submarket, drew us to this opportunity,” said Ashish Karamchandani, Heitman’s managing director and co-head of North American acquisitions. “Heitman seeks projects that demonstrate strong demand drivers in high-barrier locations, such as this.”

An entity affiliated with Spectrum bought the 28-acre project site last month for $8 million, according to Union County real estate records. Berkadia Charlotte’s Caleb Troop and Thomas Colaiezzi represented the previous land owner — High Point-based Royal Management — in its land sale to Spectrum and its partners. Patterson Real Estate Advisory Group’s Austin Smith arranged Spectrum’s equity partnership.

Summit Contracting Group is the general contractor for the Spectrum project. TD Bank provided construction financing. Dynamik Design is the architect. Eagle Engineering is the civil engineer. ViZ and Seamon Whiteside are the landscape architects.

Spectrum is one of the most active commercial real estate firms in the Charlotte region. It ranked among the top 20 on the Charlotte Business Journal‘s most ranking of commercial developers based on five-year activity. Over that span, more than half of Spectrum’s delivered square footage in Charlotte was office space, CBJ data shows.

Spectrum was the developer behind Vantage South End, the massive South End mixed-use complex that was sold late last year for $328.5 million.