Palladium USA Invests $36 Million in New Mixed-Income Housing Community in Mesquite, Texas

Palladium USA has completed financing and commenced construction on Palladium Mesquite, a $36 million multifamily community in Mesquite, Texas, marking the company's second such development in the city. The project will deliver 111 residences across one, two, and three-bedroom floor plans, with 95 units income-restricted across various area median income (AMI) set-asides and 16 units reserved at 140% AMI, promoting economic diversity within the community.

Residences will feature high-end interior finishes including granite countertops, nine-foot ceilings, hardwood-style flooring, dual sinks in primary baths, and covered balconies. Community amenities will include a resort swimming pool, state-of-the-art fitness center, conference center, business center, children's playroom, community room, playground, athletic court, gazebos with grilling stations, and a clubroom with a mini-kitchen equipped with upgraded appliances and quartz countertops.

Financing for the development was secured through a complex structure involving multiple partners. Equity included $17.6 million from Redstone and a $13.1 million equity bridge loan from Bridgewater Bank. Debt financing comprised a $14 million FHA 221(d)(4) loan arranged by Walker & Dunlop, $4 million in Texas Department of Housing and Community Affairs Multifamily Direct Loan (TDHCA MFDL) funds, and $500,000 in local participation from the City of Mesquite. The project's design was handled by HEDK Architects, with BBL Building Company serving as general contractor in partnership with Operation Community Care Living.

Located at 940 Military Parkway on a 4.74-acre site, Palladium Mesquite offers convenient access to major transportation corridors including I-635 (LBJ Freeway), U.S. 80, I-30, and I-20. The development is scheduled to begin preleasing in Summer 2026, with the clubhouse and first units delivered in Fall 2026. This investment represents Palladium USA's continued commitment to addressing housing shortages and providing quality mixed-income options in growing Texas communities.