Sponsored by JPMorganChase

Trella Uptown

Finding an affordable place to live continues to be a challenge for many as widespread housing shortages persist across the U.S. Rising home prices and high interest rates have made homeownership inaccessible for a large portion of the population. Meanwhile, as rental demand increases, the number of renters facing affordability challenges is also on the rise.

The State of the Nation’s Housing 2025 by Harvard University’s Joint Center for Housing Studies reveals that cost burdens for renters reached another record high in 2023. Similarly, the JPMorganChase Institute reports that renter affordability is declining and forcing people to devote more of their take-home pay to housing costs. There is a growing need for affordable housing across the U.S. and that rings true here in Charlotte.

To close that gap, it’s essential that all Charlotte residents share in its growth with housing options that accommodate a range of needs and budgets. For Horizon Development Properties Inc. (HDP) and Urban Atlantic this meant delivering a concrete solution to the local community, resulting in housing for individuals and families who otherwise might not have been able to live in the area.

Creating Room in Charlotte

In fast-growing Charlotte, Trella Uptown offers a practical way for more residents to share in the city’s momentum—keeping housing within reach while preserving the benefits of living near jobs, services and community life. Developed by a joint-venture between Horizon Development Properties and Urban Atlantic and constructed with support from JPMorganChase, Trella Uptown includes 353 total homes, with 106 affordable apartments integrated into the community so residents can access the same finishes and shared spaces as everyone else.

A home is more than four walls when it also comes with places to recharge, learn and connect. The property includes a fitness center, maker space, podcast studio, rooftop areas with pickleball courts, outdoor spaces and even a pet spa. By blending affordability with high-quality amenities, Trella Uptown helps strengthen neighborhood continuity, supporting residents who want to remain close to work, school and family while contributing to Charlotte’s long-term economic resilience.

Brett Macleod is a Community Development Banker at J.P. Morgan, where he helps structure and deliver financing that supports affordable housing and community revitalization efforts. He is particularly focused on community development finance and projects that expand housing access and neighborhood stability across the Carolinas and Mid-Atlantic region.

“We’re proud of the far reaching impact this project will have. It reflects Horizon Development Property Inc.’s  mission to uplift our communities and expands the supply of high quality, affordable homes,” said Brett Macleod, Community Development Banking, J.P. Morgan. “Every additional housing unit matters—and increasing the number that are affordable is critical.”

“This is what it looks like when vision turns into action. At Horizon Development Properties Inc., we believe affordable housing should not mean compromising on quality, location, or opportunity. Trella Uptown reflects our commitment to creating communities where residents of all incomes can live, work and play while in arguably one of the most sought after zip codes, and share in Charlotte’s growth”, said Fulton Meachem, President and CEO of Horizon Development Properties, Inc. “Through strong partnerships, we are not just building housing, we are building pathways to stability and long-term economic mobility for the families we serve.”

“Trella Uptown represents the kind of collaborative, community-focused development we strive for—one that brings together thoughtful design, inclusive housing, and strong local partnerships to create lasting value for both residents of Uptown and the broader Charlotte community,” said Brant Snyder, Chief Executive Officer of Urban Atlantic.

A broader commitment to Charlotte’s future

While Trella Uptown is foundational, the vibrancy of a community depends on much more. In Charlotte, the firm provides banking services to more than 500,000 customers and works across sectors to expand economic opportunity. Over the last five years, JPMorganChase has invested more than $5 million in local nonprofit organizations, supported 35,000 small business clients and delivered financial health education to thousands of residents to broaden access to banking, financial health resources, homeownership and other wealth building tools.

“As we work with local stakeholders to expand housing options, JPMorganChase’s goal is to create inclusive economic opportunity for all,” said Ryan McGauley, Chair of the Carolinas Market Leadership Team at JPMorganChase. “When our communities thrive, we all thrive.”

Learn more about affordable housing and community development at jpmorgan.com/commercial-real-estate.

Comments