Palladium USA has closed on and started construction of Palladium Craig Ranch, a 327-unit multifamily community located across from Lifetime Fitness in the Craig Ranch Town Center in McKinney, Texas. The four-story residential community will be wrapped around a concrete parking structure and will include 327 apartment homes totaling 275,466 rentable square feet on approximately 4.714 acres. The unit mix comprises 35 efficiency homes, 165 one-bedroom homes, 119 two-bedroom homes, and 8 three-bedroom homes, with an average size of 842 square feet.
The amenity package at Palladium Craig Ranch will feature a resort pool and courtyard with tanning ledges, private cabanas, hot tub spa, BBQ grills, shade structures, string lighting, seating areas, and dining areas. An activity courtyard will include a fenced dog park with pet drinking fountain, BBQ grills, string lighting, fire table with seating, shade structures, bag toss area, Bocce Ball court, seating areas, and dining areas. Other amenities consist of a clubroom, leasing center, Sky Lounge on the 4th floor, Dog Spa, state-of-the-art fitness center with Yoga room, mailroom lounge, smart lockers, bike storage and racks, and workspace pods. Interior home features include energy-efficient stainless steel appliances, 42" modern cabinetry, balconies, walk-in closets, quartz countertops/kitchen islands, dual sinks in bathrooms, washers/dryers, undermount sinks, minimum 9' ceilings, wood-style flooring, Wi-Fi controlled thermostats, and accessible layouts.
"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 provided by 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 to our Town Center." 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, said, "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." The multifamily community is located at 7909 Collin McKinney Parkway, McKinney, TX 75070. Preleasing is scheduled to begin mid-2027, with first units expected to deliver Summer 2027.
Including Palladium Craig Ranch, Palladium USA has ten multifamily developments in construction, including two in San Antonio, two in Dallas, three in Mesquite, and one in each of Lewisville, Fort Worth, and McKinney. Palladium USA is a Texas-based developer, owner, and operator of high-quality apartment communities focused on long-term neighborhood impact and resident experience. Learn more at palladiumusa.com.
