Palladium USA has closed on the acquisition and commenced construction of Palladium Craig Ranch, a new 327-unit multifamily community located at 7909 Collin McKinney Parkway in McKinney, Texas. The four-story residential community, wrapped around a concrete parking structure, will be built on approximately 4.714 acres and will offer 275,466 rentable square feet. The unit mix includes 35 efficiency homes, 165 one-bedroom homes, 119 two-bedroom homes, and eight three-bedroom homes, with an average size of 842 square feet.
“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.
Located across from Lifetime Fitness in the Craig Ranch Town Center, the community 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, fire table with seating, bag toss area, Bocce Ball court, and more. Additional amenities include 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 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, Wi-Fi controlled thermostats, and accessible layouts.
“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,” said David Craig, Founder and Master Developer of Craig Ranch. “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, noted, “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 project, Palladium USA has ten multifamily developments under construction across Texas, with two in San Antonio, two in Dallas, three in Mesquite, and one each in Lewisville, Fort Worth, and McKinney. More information is available at palladiumusa.com.
