Officials broke ground on the project during a Sept. 28 ceremony attended by representatives of Palladium USA along with city officials and McKinney City Council members.
The details
Palladium McKinney will be located on about 5 acres of land at the northeast corner of Virginia Parkway and Carlisle Street.
According to a representative of Palladium, the four-story $46 million project includes:
- 172 multifamily units with one-, two- and three-bedroom options
- A luxury pool
- A fitness center
- A children's playground
- A business lab and other amenities
The project received a 4% housing tax credit from the Texas Department of Housing and Community Affairs as well as a $1.5 million contribution from the McKinney Community Development Corp., said Avis Chaisson, executive director of real estate development for Palladium, at the event.
What they’re saying
McKinney City Council Member Geré Feltus shared her support for the project at the groundbreaking event, noting the potential for the project to serve the local workforce.
“Addressing the workforce housing issue in McKinney is not just a matter of charity, but one of economic vitality,” Feltus said. “By having projects like this move forward, we're not only supporting our central workers, but we're also driving economic growth.”
McKinney officials have prioritized seeking solutions for affordable housing in recent years, which this project could contribute to.
Palladium USA representatives targeted the project location due to its proximity to major thoroughfares, including US 75, along with access to local employers such as Raytheon, Chaisson said.
“We are committed to McKinney and providing a place for all McKinney residents to call home that's of high quality,” Chaisson said.
Learn more
For more information on Palladium USA and the Palladium McKinney project, visit www.palladiumusa.com.
