Palladium USA has closed on the acquisition and started construction of Palladium Craig Ranch, a 327-unit multifamily community located at 7909 Collin McKinney Parkway in McKinney, Texas. The development, which began construction on March 3, 2026, will be a four-story residential community wrapped around a concrete parking structure, situated across from Lifetime Fitness in the Craig Ranch Town Center.
The community will feature 327 apartment homes totaling 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. Amenities will include a resort pool and courtyard with tanning ledges, private cabanas, hot tub spa, BBQ grills, shade structures, string lighting, seating areas, and dining areas. Additional features include an activity courtyard with a fenced dog park, pet drinking fountain, fire table, Bocce Ball court, and a Sky Lounge on the fourth floor. Interior home features will include energy-efficient stainless steel appliances, 42-inch modern cabinetry, balconies, walk-in closets, quartz countertops, wood-style flooring, and Wi-Fi controlled thermostats.
Tom Huth, President and CEO of Palladium USA, stated, "Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth." The community was 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.
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, 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."
Project partners include HEDK Architecture, Cross Engineering, and Brownstone Construction as general contractor in partnership with Operation Community Care Living. Brendan Orient, Managing Director of Phoenix Capital, commented, "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."
Preleasing is scheduled to begin mid-2027, with first units expected to deliver Summer 2027. Including this project, Palladium USA has ten multifamily developments in construction across Texas. More information is available at palladiumusa.com.
