Palladium USA has completed the closing of Palladium Cockrell Hill Senior Living, a $34 million independent senior living community in Dallas, Texas, marking the company's continued expansion of mixed-income housing options. The development represents a significant investment in addressing the affordable housing needs of seniors in the Dallas-Fort Worth Metroplex while providing high-quality living environments.
The community will offer 120 residences for seniors aged 62 and older, with a deliberate focus on affordability. Of these homes, 88 will be income-restricted for households earning between 30% and 80% of the area median income, while 32 will be market-rate. This mixed-income approach ensures that seniors across different economic backgrounds can access quality housing, which is particularly important as housing costs continue to rise in metropolitan areas like Dallas.
Tom Huth, President and CEO of Palladium USA, stated that the community, which closed on December 17th with construction now underway, is part of the company's mission to provide attainable housing options that combine comfort with community. "This community represents a meaningful investment in Dallas, and we're grateful to our partners for helping bring this to life," Huth said. Palladium Cockrell Hill Senior Living is Palladium's sixth multifamily development in Dallas, Texas, demonstrating the company's ongoing commitment to the region.
The four-story, elevator-served community will feature extensive amenities designed to promote connection and wellness, including a resident clubhouse, fitness center, business center, conference room, movie theater, multipurpose room, resort swimming pool with ramp, dog park, and pickleball court. Interior features will include energy-efficient appliances, modern cabinetry, walk-in closets, granite kitchen islands, dual sinks in bathrooms, and accessible layouts. The exterior will showcase an upscale traditional architectural style.
Financing for the project included an $11.5 million HUD 231 loan, $16.8 million in tax credit equity provided by Regions Bank, and a $5 million HOME loan from the City of Dallas. The community was awarded 2024 9% Housing Tax Credits by the Texas Department of Housing and Community Affairs. This combination of public and private funding illustrates the collaborative effort required to develop affordable senior housing projects.
The development team includes Cross Architects as designers and Pavilion Construction as general contractor, with Operation Community Care Living (OCC Living) spearheading resident enrichment programming. The 5.15-acre property is located at 4220 Blue Ridge Blvd., Dallas, TX 75236, offering convenient access to major roadways, healthcare providers, retail centers, and community services. Preleasing is scheduled to begin in fall 2026, with first units expected to deliver in early 2027.
This development is significant as it addresses the critical need for affordable senior housing options in growing metropolitan areas. With an aging population and rising housing costs, mixed-income senior communities like Palladium Cockrell Hill Senior Living provide vital alternatives that allow seniors to age in place with dignity and access to community resources. The project's location in Dallas, where Palladium USA has been headquartered since 1992 according to their website https://palladiumusa.com, reflects strategic investment in markets with demonstrated housing needs.
Palladium USA's broader development activity includes four multifamily developments closed in 2025 containing 668 apartment homes and ten properties under construction containing 2,000 apartment homes, indicating substantial ongoing investment in housing infrastructure. As the holding company for all Palladium Group assets across the United States, Palladium USA continues to position itself as a leader in addressing housing affordability challenges through mixed-income developments.
