Palladium USA Breaks Ground on 327-Unit McKinney Apartment Complex

Construction crews are now on site at 7909 Collin McKinney Parkway, where Dallas-based Palladium USA closed on financing March 3 and immediately began building Palladium Craig Ranch, a 327-unit apartment community across from Lifetime Fitness in McKinney's Craig Ranch Town Center.

The four-story building will wrap around a concrete parking structure on approximately 4.714 acres, totaling 275,466 rentable square feet. The unit mix spans 35 efficiency homes, 165 one-bedrooms, 119 two-bedrooms and 8 three-bedrooms, with an average unit size of 842 square feet. Planned amenities include a pool, activity courtyard, dog park, dog spa and fitness center.

"We closed on March 3rd, and construction began," said Tom Huth, President and CEO of Palladium USA. "Palladium Craig Ranch represents the high-quality housing and long-term investment that aligns with our mission and growth."

The project was financed through a HUD 221(d)(4) construction-to-permanent loan from Gershman Investment Corp., with equity contributed by Dallas-based Phoenix Capital and Palladium USA. Brendan Orient, Managing Director of Phoenix Capital, characterized the site as a compelling bet on the North Texas market. "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. We're excited to partner with Palladium USA to deliver a best-in-class community for McKinney," Orient said.

HEDK Architecture is designing the project, with Brownstone Construction serving as general contractor. Cross Engineering and Operation Community Care Living are among additional firms listed for construction, engineering and community-related contributions.

Craig Ranch founder and master developer David Craig welcomed the project as consistent with his long-term vision for the 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," Craig said.

Preleasing is scheduled to begin in mid-2027, with first units expected to deliver in summer 2027. The parcel is among the last undeveloped sites in Craig Ranch Town Center, which has been reserved for more urban-style uses as the surrounding area has grown. McKinney approved incentives in 2025 for a JW Marriott resort at Craig Ranch, underscoring the push toward mixed-use density in the district.

Palladium Craig Ranch is one of ten multifamily developments Palladium USA currently has under construction across Texas, including two in San Antonio, two in Dallas, three in Mesquite, and one each in Lewisville and Fort Worth. The company already operates another community in McKinney at 2656 Virginia Parkway, making Craig Ranch its second active address in the city.