Palladium USA has closed on financing and commenced construction of Palladium Craig Ranch, a new 327-unit multifamily community located at 7909 Collin McKinney Parkway in McKinney, Texas. The community, situated across from Lifetime Fitness in the Craig Ranch Town Center, will feature a four-story residential building wrapped around a concrete parking structure.
The development will offer 275,466 rentable square feet on approximately 4.714 acres, with a unit mix comprising 35 efficiency homes, 165 one-bedroom homes, 119 two-bedroom homes, and eight three-bedroom homes, averaging 842 square feet. Amenities will include a resort pool and courtyard with tanning ledges, private cabanas, a hot tub spa, BBQ grills, and seating areas. An activity courtyard will feature a fenced dog park, Bocce Ball court, and fire table with seating. Additional amenities include a clubroom, leasing center, Sky Lounge on the fourth floor, Dog Spa, fitness center with Yoga room, mailroom lounge, smart lockers, bike storage, and workspace pods. Interior features will include energy-efficient stainless steel appliances, 42-inch modern cabinetry, balconies, walk-in closets, quartz countertops, kitchen islands, dual sinks, washers/dryers, wood-style flooring, and Wi-Fi controlled thermostats.
“We closed on March 3rd, and construction began,” said Tom Huth, President and CEO of Palladium USA. “Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth.” The community was financed with a HUD 221(d)4 construction-to-permanent loan from Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA.
David Craig, Founder and Master Developer of Craig Ranch, noted, “Palladium Craig Ranch represents the final urban residential site in the Craig Ranch Town Center, home of the Corporal R.D. Foster Veterans Memorial Park. For more than two decades, we've valued our partnership with Palladium USA, and it's exciting to see the start of construction on this premier addition.” Project partners include HEDK Architecture, Cross Engineering, and Brownstone Construction as general contractor in partnership with Operation Community Care Living.
Brendan Orient, Managing Director of Phoenix Capital, stated, “Palladium Craig Ranch is exactly the kind of well-located, amenity-rich community we like to invest in. It's thoughtfully designed, built to last, and positioned in one of the strongest growth corridors in North Texas.” Preleasing is scheduled to begin mid-2027, with first units expected to deliver in Summer 2027. Including this development, Palladium USA has ten multifamily communities under construction across Texas. More information is available at palladiumusa.com.
