Palladium USA has closed on and commenced construction of Palladium Craig Ranch, a new 327-unit multifamily community located at 7909 Collin McKinney Parkway in McKinney, Texas. The development occupies approximately 4.714 acres in the Craig Ranch Town Center, directly across from Lifetime Fitness. The four-story residential community will wrap around a concrete parking structure and include 275,466 rentable square feet. 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 announcement underscores the ongoing demand for multifamily housing in the Dallas-Fort Worth metroplex, particularly in high-growth suburbs like McKinney. Tom Huth, President and CEO of Palladium USA, stated, "We closed on March 3rd, and construction began. Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth." The community is financed through a HUD 221(d)4 construction-to-permanent loan provided by Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA.
Palladium Craig Ranch is designed with a comprehensive amenity package that includes a resort pool and courtyard with tanning ledges, private cabanas, hot tub spa, BBQ grills, shade structures, and dining areas. An activity courtyard will feature a fenced dog park with pet drinking fountain, fire table with seating, bag toss area, and Bocce Ball court. 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 workspace pods. Interior home features will offer energy-efficient stainless steel appliances, 42-inch modern cabinetry, balconies, walk-in closets, quartz countertops, dual sinks, washers/dryers, wood-style flooring, Wi-Fi controlled thermostats, and accessible layouts.
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." The project involves partners HEDK Architecture, Cross Engineering, and Brownstone Construction as general contractor in partnership with Operation Community Care Living.
Brendan Orient, Managing Director of Phoenix Capital, commented, "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. With this addition, Palladium USA now has ten multifamily developments under construction across Texas, including 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.
