Palladium USA has closed on and started construction of Palladium Craig Ranch, a new 327-unit multifamily community located across from Lifetime Fitness in the Craig Ranch Town Center in McKinney, Texas. The four-story residential community, wrapped around a concrete parking structure, will occupy approximately 4.714 acres and offer 275,466 rentable square feet of housing. The unit mix includes 35 efficiency homes, 165 one-bedroom homes, 119 two-bedroom homes, and 8 three-bedroom homes, with an average unit size of 842 square feet.
The development's extensive amenity package is designed to create a resort-like environment. Outdoor features will include a resort pool and courtyard with tanning ledges, private cabanas, a hot tub spa, BBQ grills, shade structures, string lighting, and multiple seating and dining areas. An activity courtyard will feature a fenced dog park with a pet drinking fountain, additional BBQ grills, a fire table with seating, a bag toss area, a Bocce Ball court, and more shaded seating. Indoor amenities will consist of a clubroom, leasing center, a Sky Lounge on the fourth floor, a Dog Spa, a state-of-the-art fitness center with a Yoga room, a mailroom lounge, smart lockers, bike storage, and workspace pods.
Interior home features are focused on modern luxury and efficiency, including energy-efficient stainless steel appliances, 42-inch modern cabinetry, balconies, walk-in closets, quartz countertops and kitchen islands, dual sinks in bathrooms, in-unit washers and dryers, undermount sinks, minimum 9-foot ceilings, wood-style flooring, Wi-Fi controlled thermostats, and accessible layouts. Tom Huth, President and CEO of Palladium USA, stated that the closing occurred on March 3rd and construction has begun, noting that the project aligns with the company's mission of providing high-quality housing as a long-term investment.
Financing for the community was secured through a HUD 221(d)4 construction-to-permanent loan provided by Gershman Investment Corp, with equity provided by Dallas-based Phoenix Capital and Palladium USA. David Craig, Founder and Master Developer of Craig Ranch, emphasized that Palladium Craig Ranch represents the final urban residential site in the Craig Ranch Town Center, which is home to the Corporal R.D. Foster Veterans Memorial Park. He highlighted a partnership with Palladium USA spanning more than two decades and expressed excitement about the project adding new energy and vibrancy while continuing the vision of a walkable, connected district.
Brendan Orient, Managing Director of Phoenix Capital, described the project as a well-located, amenity-rich community that is thoughtfully designed and positioned in one of North Texas's strongest growth corridors. Key project partners include HEDK Architecture, Cross Engineering, and general contractor Brownstone Construction, which is working in partnership with Operation Community Care Living. The community is located at 7909 Collin McKinney Parkway, McKinney, TX 75070. Preleasing is scheduled to begin in mid-2027, with the first units expected to deliver in Summer 2027.
This development expands Palladium USA's active portfolio in Texas. Including Palladium Craig Ranch, the company now has ten multifamily developments under construction: two in San Antonio, two in Dallas, three in Mesquite, and one each in Lewisville, Fort Worth, and McKinney. Palladium USA is a Texas-based developer, owner, and operator focused on long-term neighborhood impact and resident experience, often partnering with local governments and housing finance agencies. More information about the company can be found at palladiumusa.com.
