Palladium USA, a Dallas-based development firm, is set to open a new multifamily affordable housing project in McKinney by fall 2025. The $46 million project, known as Palladium McKinney, will be situated on approximately 5 acres of land at the northeast corner of Virginia Parkway and Carlisle Street.
This four-story development will feature 172 units with one-, two-, and three-bedroom options. In addition to its prime location, Palladium McKinney will offer residents luxurious amenities such as a pool, fitness center, children’s playground,and business lab.
According to Community Impact reports,the project aims to cater to individuals who earn 60% or less than the area’s median income. It has received approval for a 4% housing tax credit from the Texas Department of Housing and Community Affairs and also secured $1.5 million in funding from the McKinney Community Development Corp.
The commencement of construction on this workforce apartment build marks an exciting milestone for Palladium USA and brings much-needed affordable housing options for residents in the area.
