Dallas developer Palladium USA is planning to build apartment communities in Fort Worth and Lewisville next year in two projects totaling an estimated $57 million.
Construction of the larger of the two properties, Palladium City Skyline, is scheduled to begin in May on Fort Worth’s East Lancaster Avenue — a public improvement district (PID). According to a state filing, the 291,765-square-foot building will include 240 units.
“The eight-acre property will provide space for singles and families, and will feature indoor and outdoor children’s play areas, fitness center, swimming pool, dog run, and many other amenities,” according to the PID website. “The developer closely collaborated with the Central Meadowbrook Neighborhood Association to arrive at a final design. Palladium City Skyline will be the first new private construction project in twenty years within the Public Improvement District, and represents an important milestone in the corridor’s return to vitality.”
Created in 2020, the East Lancaster Public Improvement District No. 20 covers an area between Riverside Drive and East Loop 820. Its redevelopment includes the opening of Reby Cary Youth Library, reconstruction of the nearly century-old East Lancaster Avenue, improved public transportation, and increased security.
Separately, Palladium Lewisville will be built on East Round Grove after Lewisville City Council members in September approved a zoning change allowing development of the 90-unit, 117,943-square-foot property. Amenities include a children’s playroom, fitness center, swimming pool, playground, fitness center, business center, dog park, and Operation Community Care — a nonprofit organization that provides job training, counseling, and a food pantry.
Both Palladium properties are tax-credit communities, meaning the developer is using the federal Low Income Housing Tax Credit program to build lower-income housing. In turn, income restrictions apply to qualified renters.
According to a Texas Department of Licensing and Regulation filing, construction of Palladium Lewisville is expected to be complete in May 2025 at a projected cost of $17 million. The anticipated delivery date for Palladium City Skyline is May 2026, at an estimated cost of $40 million.
Arrive Architecture Group of Bedford is listed as the design firm on the filing. Its portfolio includes multifamily properties in Dallas, Denton, and Roanoke.
