Palladium USA has begun construction on a 120-unit mixed-income senior housing community in Dallas.
Palladium Cockrell Hill Senior Living will feature one- and two-bedroom floor plans for residents 62 and older. Eighty-eight homes will be restricted to households earning between 30% and 80% of the area median income, and 32 homes will be market rate.
“We closed on Dec. 17, and construction began. Palladium Cockrell Hill Senior Living is part of our mission to bring senior residents attainable housing options that offer both comfort and community,” said Tom Huth, president and CEO of Palladium USA. “This community represents a meaningful investment in Dallas, and we’re grateful to our partners for helping bring this to life.”
Palladium Cockrell Hill Senior Living is the firm’s sixth multifamily development in Dallas.
The units will include energy-efficient appliances, modern cabinetry, walk-in closets, a granite kitchen island, dual sinks in bathrooms, and accessible layouts.
Financing for the $34 million development includes an $11.5 million Department of Housing and Urban Development Section 231 loan, $16.8 million in low-income housing tax credit (LIHTC) equity provided by Regions Bank, and a $5 million HOME loan from the city of Dallas. The community was awarded 2024 9% LIHTCs by the Texas Department of Housing and Community Affairs.
Preleasing is scheduled to begin in the fall, with first units expected to deliver in early 2027.
Dallas-based Palladium USA closed on four multifamily developments in 2025, containing 668 apartment homes and has 10 properties under construction, containing 2,000 apartment homes.