Palladium USA Launches $34 Million Mixed-Income Senior Living Community in Dallas

Palladium USA has closed on Palladium Cockrell Hill Senior Living, a $34 million independent senior living community in Dallas, Texas, marking a significant expansion of its mixed-income housing portfolio. The development will provide 120 residences for seniors aged 62 and older, with 88 units income-restricted for households earning between 30% and 80% of the area median income and 32 market-rate units. This project directly responds to the growing demand for attainable senior housing in the Dallas-Fort Worth Metroplex, where affordability remains a pressing concern for older residents on fixed incomes.

The four-story, elevator-served community at 4220 Blue Ridge Blvd. will feature extensive amenities designed to promote wellness and social connection, including a resident clubhouse, fitness center, business center, movie theater, resort swimming pool with ramp, dog park, and pickleball court. Interior residences will include energy-efficient appliances, modern cabinetry, walk-in closets, granite kitchen islands, and accessible layouts. The community's design by Cross Architects emphasizes both upscale traditional exterior architecture and interior spaces focused on comfort, safety, and convenience.

Financing for the project demonstrates the complex public-private partnerships required for such developments, including an $11.5 million HUD 231 loan, $16.8 million in tax credit equity from Regions Bank, and a $5 million HOME loan from the City of Dallas. The community was awarded 2024 9% Housing Tax Credits by the Texas Department of Housing and Community Affairs, highlighting the state's commitment to supporting affordable senior housing initiatives. These financing mechanisms make the mixed-income model viable, ensuring that lower-income seniors can access quality housing alongside market-rate residents.

Tom Huth, President and CEO of Palladium USA, emphasized the project's alignment with the company's mission to provide senior residents with attainable housing options that offer both comfort and community. Palladium Cockrell Hill Senior Living represents Palladium's sixth multifamily development in Dallas, with Pavilion Construction serving as general contractor and Operation Community Care Living managing resident enrichment programming. The location provides convenient access to major roadways, healthcare providers, retail centers, and community services, addressing the isolation concerns common among senior populations.

The development's importance extends beyond immediate housing needs, as it represents a sustainable model for addressing demographic shifts. With preleasing scheduled to begin in fall 2026 and first units delivering in early 2027, the project contributes to Palladium USA's broader portfolio expansion, which includes four multifamily developments closed in 2025 containing 668 apartment homes and ten properties under construction with 2,000 apartment homes. As the holding company for all Palladium Group assets across the United States, Palladium USA continues to leverage its experience since 1992 to create communities that balance quality, innovation, and accessibility in the multifamily market.