Palladium USA has closed on and begun construction of Palladium Craig Ranch, a new 327-unit multifamily community located across from Lifetime Fitness in the Craig Ranch Town Center in McKinney, Texas. The four-story residential community, wrapped around a concrete parking structure, will total 275,466 rentable square feet on approximately 4.714 acres. The unit mix includes 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 development's significance lies in its position as the final urban residential site within the Craig Ranch Town Center, home to the Corporal R.D. Foster Veterans Memorial Park. This completion marks a milestone in the two-decade partnership between Palladium USA and Craig Ranch's master developer, fulfilling a vision for a walkable, connected district. David Craig, Founder and Master Developer of Craig Ranch, stated the project will bring new energy and vibrancy while serving residents and the broader McKinney community.
For the local housing market and North Texas region, Palladium Craig Ranch addresses demand in what Brendan Orient, Managing Director of equity provider Phoenix Capital, called "one of the strongest growth corridors in North Texas." The community's financing through a HUD 221(d)4 construction-to-permanent loan from Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA, underscores the project's investment appeal and stability. This model supports the delivery of housing in a high-demand area.
The amenity package is designed to enhance resident experience and community connectivity. It includes a resort pool and courtyard with tanning ledges, private cabanas, hot tub spa, and dining areas. An activity courtyard will feature a fenced dog park, Bocce Ball court, and fire table seating. Additional amenities consist of a clubroom, Sky Lounge on the fourth floor, a state-of-the-art fitness center with Yoga room, smart lockers, bike storage, and workspace pods. Interior features focus on modern living with energy-efficient stainless steel appliances, quartz countertops, wood-style flooring, and Wi-Fi controlled thermostats.
Tom Huth, President and CEO of Palladium USA, emphasized that Palladium Craig Ranch aligns with the company's mission of providing high-quality housing and long-term investment. The project is part of Palladium USA's broader portfolio, which now includes ten multifamily developments in construction across Texas, including locations in San Antonio, Dallas, Mesquite, Lewisville, and Fort Worth. Project partners include HEDK Architecture, Cross Engineering, and general contractor Brownstone Construction in partnership with Operation Community Care Living.
Located at 7909 Collin McKinney Parkway, McKinney, TX 75070, preleasing for Palladium Craig Ranch is scheduled to begin mid-2027, with first units expected to deliver in Summer 2027. The development reflects ongoing trends in multifamily housing that prioritize comprehensive amenities and strategic locations to meet the needs of growing urban populations. More information about Palladium USA is available at https://palladiumusa.com.
