Palladium USA has completed the closing of Palladium Cockrell Hill Senior Living, a $34 million independent senior living community in Dallas, Texas. The development represents a strategic expansion of the company's mixed-income portfolio and addresses growing demand for affordable senior housing options in the Dallas-Fort Worth Metroplex.
The four-story community will feature 120 residences designed for seniors aged 62 and older, with one- and two-bedroom floor plans available. Of these units, 88 will be income-restricted for households earning between 30% and 80% of the area median income, while 32 homes will be offered at market rates. This mixed-income approach creates diverse housing opportunities within a single community, allowing seniors with varying financial circumstances to access quality housing.
Tom Huth, President and CEO of Palladium USA, stated that the community closed on December 17th and construction has begun. "Palladium Cockrell Hill Senior Living is part of our mission to bring senior residents attainable housing options that offer both comfort and community," Huth said. "This community represents a meaningful investment in Dallas, and we're grateful to our partners for helping bring this to life."
The development features extensive amenities designed to promote connection and wellness among residents. Common areas will include a resident clubhouse, fitness center, business center, conference room, movie theater, multipurpose room, resort swimming pool with ramp access, dog park, and pickleball court. Interior features of individual residences will include energy-efficient appliances, modern cabinetry, walk-in closets, granite kitchen islands, dual sinks in bathrooms, and accessible layouts. The exterior architecture presents an upscale traditional appearance while interior design emphasizes comfort, safety, and convenience.
Financing for the project included an $11.5 million HUD 231 loan, $16.8 million in tax credit equity provided by Regions Bank, and a $5 million HOME loan from the City of Dallas. The community received 2024 9% Housing Tax Credits from the Texas Department of Housing and Community Affairs, highlighting the public-private partnership supporting affordable housing development.
Cross Architects designed the community, with Pavilion Construction serving as general contractor in partnership with Operation Community Care Living. OCC Living will manage resident enrichment programming, offering services designed to enhance daily life for seniors at the community. The 5.15-acre property is located at 4220 Blue Ridge Blvd. in Dallas, providing convenient access to major roadways, healthcare providers, retail centers, and community services.
Palladium Cockrell Hill Senior Living marks Palladium's sixth multifamily development in Dallas, Texas. The company has closed four multifamily developments in 2025 containing 668 apartment homes and currently has ten properties under construction with approximately 2,000 apartment homes. Preleasing for the Cockrell Hill community is scheduled to begin in fall 2026, with first units expected to deliver in early 2027.
The development addresses critical housing needs for seniors in a rapidly growing metropolitan area. By combining affordable and market-rate units within a single community with extensive amenities, the project creates an inclusive environment that supports aging in place with dignity and community connection. This approach to mixed-income senior housing represents a model that could be replicated in other markets facing similar demographic challenges.
