Palladium Plans Lower-Income Community in DFW

Rendering of Palladium Craig Ranch
Rendering of Palladium Craig Ranch to be built in McKinney, Texas | Image by Palladium USA

Palladium USA of Dallas plans to build another of its tax-credit apartment communities in North Texas — this time in Mesquite.

According to a state filing, construction of the 329,802-square-foot property on Burton Road near I-635 is scheduled to begin in July. With an estimated building cost of $50 million, the project has a delivery date of July 2026.

“The development will be financed utilizing a combination of sources including 4% housing tax credits and tax-exempt bonds issued by the Mesquite Housing Finance Corporation,” according to a Dallas County document. “This location offers a strategic advantage, being close to major transportation arteries such as Interstate 30 and Interstate 635, providing easy access to the entire Dallas-Fort Worth metroplex.”

A $76 million development, Palladium Carver Living will include 86 one-bedroom units, 156 two-bedroom apartments, and 46 three-bedroom units. The amenities include a fitness center, pool, playground, children’s playroom, cabana with grills, and dog park.

The Dallas Express reported in December that Palladium is planning to build apartment communities elsewhere in North Texas. In Fort Worth, Palladium City Skyline is a 291,765-square-foot building featuring 240 units on East Lancaster Avenue — a public improvement district. Created in 2020, it encompasses an area between East Loop 820 and Riverside Drive, and its redevelopment includes improved public transportation, increased security, the opening of Reby Cary Youth Library, and reconstruction of the nearly century-old East Lancaster Avenue.

Palladium Lewisville is a 117,943-square-foot property with 90 units. That development was cleared after Lewisville City Council members approved a zoning change in September.

The developer uses the federal Low Income Housing Tax Credit Program to build lower-income housing. In turn, income restrictions apply to renters who qualify.

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