Palladium USA has closed on financing and started construction of Palladium Craig Ranch, a 327-unit multifamily community in McKinney, Texas, the company announced March 10. The four-story development, located at 7909 Collin McKinney Parkway, will wrap around a concrete parking structure on approximately 4.7 acres. It is the final urban residential site in the Craig Ranch Town Center, according to David Craig, founder and master developer of Craig Ranch.
The community will offer 275,466 rentable square feet with a mix of efficiency, one-, two-, and three-bedroom homes averaging 842 square feet. Planned amenities include a resort pool with tanning ledges, private cabanas, a hot tub spa, and an activity courtyard with a fenced dog park, Bocce Ball court, and fire table. Interior features will include energy-efficient stainless steel appliances, 42-inch cabinetry, quartz countertops, wood-style flooring, and Wi-Fi-controlled thermostats.
Financing for the project came from a HUD 221(d)4 construction-to-permanent loan provided by Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA. Tom Huth, president and CEO of Palladium USA, said the closing occurred on March 3 and construction began immediately. Brendan Orient, managing director of Phoenix Capital, noted that the community is "thoughtfully designed, built to last, and positioned in one of the strongest growth corridors in North Texas."
Project partners include HEDK Architecture, Cross Engineering, and Brownstone Construction as general contractor, in partnership with Operation Community Care Living. Preleasing is scheduled to begin mid-2027, with first units expected to deliver in summer 2027. Including Palladium Craig Ranch, Palladium USA now has ten multifamily developments under construction across Texas, spanning San Antonio, Dallas, Mesquite, Lewisville, Fort Worth, and McKinney.
The development is located across from Lifetime Fitness in the Craig Ranch Town Center, home of the Corporal R.D. Foster Veterans Memorial Park. David Craig emphasized the long partnership with Palladium USA, calling the project "a premier addition to our Town Center" that will bring new energy and vibrancy while continuing the vision of a walkable, connected district. More information about Palladium USA is available at palladiumusa.com.
