IncomePlus Fund

Morris at Belmont

Charlotte,

NC

Total Required Equity
$28,750,000
Asset Type
Multifamily
Investment Objective
Development
Projected IRR
17%
Hold Period
5 years
Investment Date
October 2021

Investment Summary

The Morris at Belmont is a 322-unit Class A multifamily ground up development located in Belmont, a rapidly growing and historical suburb of Charlotte, North Carolina. Located 15 miles west of Charlotte, Belmont is a suburban city that is quickly growing in popularity as a small-town alternative with proximity to big city amenities. Easily accessible by I-85 and Highways 16, 27, and 74, Belmont is less than 30 minutes from Uptown Charlotte’s abundant employers and lifestyle amenities.  This combination contributes to strong housing demand in the area with over a third of households renting. 

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