Palladium USA announced the closing and start of construction of Palladium Craig Ranch, a 327-unit multifamily community located at 7909 Collin McKinney Parkway in McKinney, Texas. The four-story residential community will wrap around a concrete parking structure and is situated across from Lifetime Fitness in the Craig Ranch Town Center. The development includes 35 efficiency units, 165 one-bedroom, 119 two-bedroom, and 8 three-bedroom homes, averaging 842 square feet. Amenities will include a resort-style pool and courtyard with tanning ledges, private cabanas, a hot tub spa, BBQ grills, and a fenced dog park. Additional features include a clubroom, leasing center, Sky Lounge on the fourth floor, a state-of-the-art fitness center with yoga room, mailroom lounge, smart lockers, bike storage, and workspace pods. Interior finishes will feature energy-efficient stainless steel appliances, 42-inch cabinetry, balconies, walk-in closets, quartz countertops, and wood-style flooring.
Tom Huth, President and CEO of Palladium USA, stated, "We closed on March 3rd, and construction began. Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth." The project is financed with a HUD 221(d)4 construction-to-permanent loan from Gershman Investment Corp, with equity from Dallas-based Phoenix Capital and Palladium USA. David Craig, Founder and Master Developer of Craig Ranch, noted, "Palladium Craig Ranch represents the final urban residential site in the Craig Ranch Town Center... For more than two decades, we've valued our partnership with Palladium USA." Project partners include HEDK Architecture, Cross Engineering, and Brownstone Construction as general contractor. Brendan Orient, Managing Director of Phoenix Capital, added, "Palladium Craig Ranch is exactly the kind of well-located, amenity-rich community we like to invest in." Preleasing is slated for mid-2027, with first units expected in summer 2027. This development adds to Palladium USA's portfolio of ten multifamily projects currently under construction across Texas.
