Palladium USA has closed on and begun construction of Palladium Craig Ranch, a 327-unit multifamily community in McKinney, Texas. The four-story residential development, located across from Lifetime Fitness in the Craig Ranch Town Center, will occupy approximately 4.714 acres and total 275,466 rentable square feet. The project's financing includes a HUD 221(d)4 construction-to-permanent loan provided by Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA.
The development's unit mix comprises 35 efficiency homes, 165 one-bedroom units, 119 two-bedroom units, and 8 three-bedroom units, averaging 842 square feet. Interior features will include energy-efficient stainless steel appliances, quartz countertops, wood-style flooring, Wi-Fi controlled thermostats, and accessible layouts. The community will offer extensive amenities, including a resort pool with cabanas, a state-of-the-art fitness center with a yoga room, a Sky Lounge on the fourth floor, a fenced dog park with a pet drinking fountain, and workspace pods.
"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." David Craig, Founder and Master Developer of Craig Ranch, noted the project's significance as "the final urban residential site in the Craig Ranch Town Center," which is home to the Corporal R.D. Foster Veterans Memorial Park. He emphasized the more than two-decade partnership with Palladium USA and the project's role in continuing the vision of a walkable, connected district.
Brendan Orient, Managing Director of Phoenix Capital, highlighted the investment appeal, stating, "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." Project partners include HEDK Architecture, Cross Engineering, and general contractor Brownstone Construction in partnership with Operation Community Care Living. The community is located at 7909 Collin McKinney Parkway, McKinney, TX 75070, with preleasing scheduled to begin mid-2027 and first units expected to deliver in Summer 2027.
This development is part of Palladium USA's broader portfolio, which includes ten multifamily projects currently under construction across Texas, such as two in San Antonio, two in Dallas, three in Mesquite, and one each in Lewisville, Fort Worth, and McKinney. The company, a Texas-based developer, owner, and operator, focuses on long-term neighborhood impact and resident experience, partnering with local entities to deliver well-designed homes. More information is available at https://palladiumusa.com.
