Palladium USA recently celebrated the opening of a $30 million mixed-income community in Lewisville, Texas.
The 90-unit Palladium Lewisville features 57 affordable residences and 33 market-rate apartments.
“Celebrating the grand opening of Palladium Lewisville while reaching 100% occupancy is an incredible milestone for our team and our partners,” said Kim Parker, executive director of development for Palladium USA. “The strong demand for this community reinforces the need for high-quality housing in Lewisville. We are grateful to everyone who helped make this vision a reality and are proud to welcome our residents home.”
The development is the Dallas-based firm’s first apartment community in Lewisville.
Residents have access to a variety of modern amenities, including a clubhouse, a fitness center, a resort-style swimming pool, a business center, a conference room, a children’s playroom, landscaped outdoor gathering spaces, and on-site management.
Conveniently located near Interstate 35E and state Highway 121, Palladium Lewisville provides easy access to major employers, shopping, dining, healthcare, and entertainment throughout the Dallas-Fort Worth metroplex.
The financing for the development includes 9% low-income housing tax credits reserved by the Texas Department of Housing and Community Affairs (TDHCA) with equity provided PNC Real Estate, federal Section 221(d)(4) financing through PNC Bank, and the TDHCA Multifamily Direct Loan Program.
Additional project partners include Treymore Construction, Arrive Architecture Group, Cross Engineering Consultants, Coats Rose, and Operation Community Care Living.