Palladium USA has completed the closing of Palladium Cockrell Hill Senior Living, a $34 million independent senior living community in Dallas, Texas. The development represents a significant investment in mixed-income housing for seniors aged 62 and older, continuing the company's strategic portfolio expansion in the multifamily market.
The community will feature 120 residences with one- and two-bedroom floor plans, with 88 units designated as income-restricted for households earning between 30% and 80% of the area median income. The remaining 32 homes will be available at market rates, creating a diverse residential environment. This mixed-income approach addresses the growing need for affordable senior housing options in urban areas while maintaining quality standards.
Designed as a four-story, elevator-served building, the community will include interior corridors and comprehensive amenities focused on resident wellness and social connection. Facilities will include a resident clubhouse, fitness center, business center, conference room, movie theater, multipurpose room, resort swimming pool with ramp access, dog park, and pickleball court. Interior features emphasize accessibility and modern living with energy-efficient appliances, granite kitchen islands, walk-in closets, and dual bathroom sinks.
Tom Huth, President and CEO of Palladium USA, stated that the community represents part of the company's mission to provide attainable housing options that combine comfort with community. The December 17th closing has enabled construction to begin on what will become Palladium's sixth multifamily development in Dallas. The project was designed by Cross Architects, with Pavilion Construction serving as general contractor in partnership with Operation Community Care Living, which will manage resident enrichment programming.
Financing for the development included an $11.5 million HUD 231 loan, $16.8 million in tax credit equity provided by Regions Bank, and a $5 million HOME loan from the City of Dallas. The community received 2024 9% Housing Tax Credits from the Texas Department of Housing and Community Affairs, demonstrating public-private partnership support for affordable senior housing initiatives.
Located at 4220 Blue Ridge Blvd. on a 5.15-acre site, the community offers convenient access to major roadways, healthcare providers, retail centers, and community services within the Dallas-Fort Worth Metroplex. This strategic location provides seniors with both accessibility and affordability in a well-connected urban setting. Preleasing is scheduled to begin in fall 2026, with first units expected to deliver in early 2027.
The development occurs as Palladium USA continues its expansion, having closed four multifamily developments containing 668 apartment homes in 2025, with ten additional properties containing 2,000 apartment homes currently under construction. As the holding company for all Palladium Group assets across the United States, the Dallas-based firm has maintained operations since 1992, establishing itself as a leader in the multifamily housing sector. The company's website at https://palladiumusa.com provides additional information about their portfolio and mission.
This development highlights the growing importance of mixed-income senior housing solutions that address both affordability and quality of life considerations. For business and technology leaders, the project demonstrates how strategic financing partnerships, thoughtful design, and community-focused programming can create sustainable housing models that serve diverse economic populations while generating long-term value.
