Palladium USA has closed on and started construction of Palladium Craig Ranch, a 327-unit multifamily community located at 7909 Collin McKinney Parkway in McKinney, Texas. The development, which sits on approximately 4.714 acres across from Lifetime Fitness in the Craig Ranch Town Center, will be a four-story residential community wrapped around a concrete parking structure. The community will include 35 efficiency homes, 165 one-bedroom homes, 119 two-bedroom homes, and eight three-bedroom homes, with an average unit size of 842 square feet and a total of 275,466 rentable square feet.
Tom Huth, President and CEO of Palladium USA, confirmed that construction began on March 3. "Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth," Huth said. The project is financed with a HUD 221(d)4 construction-to-permanent loan provided by Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA. Brendan Orient, Managing Director of Phoenix Capital, noted, "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."
David Craig, Founder and Master Developer of Craig Ranch, highlighted the significance of the development: "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. Palladium Craig Ranch will bring new energy and vibrancy while continuing the vision of a walkable, connected district that serves residents and the broader McKinney community."
The amenity package includes a resort pool and courtyard with tanning ledges, private cabanas, hot tub spa, BBQ grills, shade structures, string lighting, seating and dining areas. An activity courtyard will feature a fenced dog park with pet drinking fountain, fire table with seating, bag toss area, Bocce Ball court, and more. Other amenities include a clubroom, leasing center, Sky Lounge on the fourth floor, Dog Spa, a state-of-the-art fitness center with Yoga room, mailroom lounge, smart lockers, bike storage and racks, and workspace pods. Interior home features will include energy-efficient stainless steel appliances, 42-inch modern cabinetry, balconies, walk-in closets, quartz countertops and kitchen islands, dual sinks in bathrooms, washers and dryers, undermount sinks, minimum nine-foot ceilings, wood-style flooring, Wi-Fi controlled thermostats, and accessible layouts.
Project partners include HEDK Architecture, Cross Engineering, and Brownstone Construction as general contractor in partnership with Operation Community Care Living. Preleasing is scheduled to begin mid-2027, with first units expected to deliver in summer 2027. Including Palladium Craig Ranch, Palladium USA now has ten multifamily developments under construction, including two in San Antonio, two in Dallas, three in Mesquite, and one each in Lewisville, Fort Worth, and McKinney. Palladium USA is a Texas-based developer, owner, and operator of high-quality apartment communities focused on long-term neighborhood impact and resident experience. More information is available at palladiumusa.com.
