Palladium USA announced the closing and start of construction on Palladium Craig Ranch, a new multifamily community located at 7909 Collin McKinney Parkway in McKinney, Texas. The development, which broke ground on March 3, 2026, will occupy the final urban residential site in the Craig Ranch Town Center, across from Lifetime Fitness.
The four-story 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. The building will wrap around a concrete parking structure.
Residents will have access to extensive amenities including a resort pool and courtyard with tanning ledges, private cabanas, hot tub spa, BBQ grills, shade structures, string lighting, seating areas, and dining areas. An activity courtyard will offer a fenced dog park with pet drinking fountain, fire table with seating, bag toss area, Bocce Ball court, and more. Additional amenities include a clubroom, leasing center, Sky Lounge on the 4th floor, Dog Spa, state-of-the-art fitness center with Yoga room, mailroom lounge, smart lockers, bike storage and racks, and workspace pods. Interior features include energy-efficient stainless steel appliances, 42" modern cabinetry, balconies, walk-in closets, quartz countertops/kitchen islands, dual sinks in bathrooms, washers/dryers, undermount sinks, minimum 9' ceilings, wood-style flooring, Wi-Fi controlled thermostats, and accessible layouts.
"Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth," said Tom Huth, President and CEO of Palladium USA. The community was financed with a HUD 221(d)4 construction-to-permanent loan from Gershman Investment Corp, with equity provided by Dallas-based Phoenix Capital and Palladium USA.
David Craig, Founder and Master Developer of Craig Ranch, noted the significance: "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, stated: "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 in Summer 2027. Including Palladium Craig Ranch, Palladium USA has ten multifamily developments in construction across Texas. Learn more at palladiumusa.com.
