Palladium Craig Ranch, a new multifamily development, is expected to bring 327 apartment homes to a roughly 4.7-acre site in Craig Ranch Town Center, according to a news release.
The project by Dallas-based Palladium USA will bring a four-story residential building wrapped around a concrete parking structure to southwest McKinney.
The specifics
The apartment community’s 327 apartment homes will total over 275,000 square feet of rentable space, the release states. The development will be located at 7909 Collin McKinney Parkway in the Craig Ranch area.
The community will include:
- 35 efficiency homes
- 165 one-bedroom units
- 119 two-bedroom units
- 8 three-bedroom units
The average unit size will be 842 square feet and will include features such as stainless steel appliances, balconies and in-unit washers and dryers. The community amenities will include a resort-style pool, an activity courtyard, a dog park, a dog spa, a fitness center and more.
“Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth,” Palladium President and CEO Tom Huth said in the release.
Preleasing for homes in the development is expected to begin in mid-2027, with the first units being delivered in summer 2027, the release states.
Diving in deeper
Project officials closed on the development March 3, with financing support provided by Gershman Investment Corp. and equity provided by Phoenix Capital alongside Palladium USA, the release states.
Various development services and contributions to the project will be provided by Addison-based HEDK Architecture, McKinney-based Cross Engineering, Brownstone Construction and Operation Community Care Living.
Palladium USA has multifamily communities across Texas, including 10 under construction. Another Palladium community is located in McKinney at 2656 Virginia Parkway.
Quote of note
“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,” Craig Ranch Founder and Master Developer David Craig said in the release. “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.”
