Palladium USA Opens $58 Million Affordable Housing Community in Fort Worth

Palladium USA celebrated the grand opening of Palladium Oak Grove, a $58 million apartment community in Fort Worth that provides 240 rental homes for households earning between 30% and 80% of the area median income. The development represents a significant investment in addressing Fort Worth's affordable housing needs through public-private partnerships.

The community at 932 Oak Grove Road features one-, two-, and three-bedroom homes ranging from 751 to 1,154 square feet, totaling 214,837 net rentable square feet across approximately 9.846 acres. The project's financing structure demonstrates how public and private entities can collaborate to create attainable housing, with the Texas Department of Housing and Community Affairs issuing $26 million in tax-exempt bonds purchased by Cedar Rapids Bank & Trust, PNC Bank investing $23 million in tax-credit equity, and the City of Fort Worth providing $1,200,000 in subordinate funding.

Tom Huth, President and CEO of Palladium USA, emphasized the project's significance, stating the community advances the company's mission to deliver high-quality, attainable housing. The development partnership included the Fort Worth Housing Finance Corporation as general partner and Treymore Construction as general contractor. Fort Worth City Councilmember Elizabeth Beck from District 9 noted that investment in high-quality, affordable housing remains a priority for the city, appreciating Palladium as a partner in that mission.

The opening of Palladium Oak Grove comes as Palladium USA continues to expand its affordable housing portfolio, having closed three multifamily developments containing 548 apartment homes year-to-date in 2025, with two additional developments planned to close within 45 days and ten properties under construction containing over 2,100 apartment homes. This rapid expansion highlights the growing demand for quality affordable housing options in Texas markets. More information about the company's approach can be found at https://palladiumusa.com.

The development's importance extends beyond providing immediate housing solutions, serving as a model for how municipalities can leverage private sector expertise and capital to address housing affordability challenges. With households across income brackets facing increasing housing cost burdens, projects like Palladium Oak Grove demonstrate viable approaches to creating sustainable, quality housing options that support community stability and economic diversity.