Palladium USA has closed on and started construction of Palladium Craig Ranch, a new 327-unit multifamily community located across from Lifetime Fitness in the Craig Ranch Town Center in McKinney, Texas. The four-story residential community, wrapped around a concrete parking structure, will total 275,466 rentable square feet on approximately 4.714 acres. The unit mix includes 35 efficiency homes, 165 one-bedroom homes, 119 two-bedroom homes, and 8 three-bedroom homes, with an average size of 842 square feet.
The community's amenity package is designed for a resort-like living experience. It will feature a resort pool and courtyard with tanning ledges, private cabanas, a hot tub spa, BBQ grills, and various seating areas. An activity courtyard will include a fenced dog park with a pet drinking fountain, a Bocce Ball court, and a fire table. Additional amenities consist of a clubroom, a Sky Lounge on the fourth floor, a Dog Spa, a state-of-the-art fitness center with a Yoga room, smart lockers, bike storage, and workspace pods. Interior home features will include energy-efficient stainless steel appliances, quartz countertops, wood-style flooring, Wi-Fi controlled thermostats, and accessible layouts.
Tom Huth, President and CEO of Palladium USA, stated that the closing occurred on March 3rd, with construction immediately following. He emphasized that the project aligns with the company's mission of providing high-quality housing and long-term investment. The project was financed with a HUD 221(d)4 construction-to-permanent loan provided by Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA. Brendan Orient, Managing Director of Phoenix Capital, noted the community's strategic location in one of North Texas's strongest growth corridors, describing it as a well-located, amenity-rich investment.
David Craig, Founder and Master Developer of Craig Ranch, highlighted that Palladium Craig Ranch represents the final urban residential site in the Craig Ranch Town Center, an area that includes the Corporal R.D. Foster Veterans Memorial Park. He expressed excitement about the two-decade partnership with Palladium USA and the project's role in enhancing the walkable, connected district. The community is located at 7909 Collin McKinney Parkway, McKinney, TX 75070. Preleasing is scheduled to begin mid-2027, with the first units expected to deliver in Summer 2027.
Project partners include HEDK Architecture, Cross Engineering, and Brownstone Construction, which is the general contractor in partnership with Operation Community Care Living. This development is part of Palladium USA's broader portfolio, which includes ten multifamily developments currently in construction across Texas, such as projects in San Antonio, Dallas, Mesquite, Lewisville, and Fort Worth. The company, a Texas-based developer, owner, and operator, focuses on creating long-term neighborhood impact through well-designed homes and professional management. More information about Palladium USA can be found at https://palladiumusa.com.
For business and technology leaders, this announcement signals sustained confidence in the North Texas real estate market, particularly in master-planned communities like Craig Ranch. The use of a HUD 221(d)4 loan indicates a structured financing approach that could influence future multifamily developments, especially those aiming for energy efficiency and modern amenities. The project's emphasis on smart home features, such as Wi-Fi controlled thermostats, reflects a growing trend toward integrated technology in residential construction, potentially setting a standard for future developments. As the final residential piece in Craig Ranch Town Center, this project may drive further commercial and community growth in McKinney, reinforcing the area's appeal for professionals and families seeking connected, amenity-rich living environments.
