Palladium USA Opens $58 Million Affordable Housing Community in Fort Worth

Palladium USA celebrated the grand opening of Palladium Oak Grove, a 240-home apartment community in Fort Worth that represents a $58 million investment in affordable housing. The development provides high-quality rental homes serving households at 30 to 80 percent of area median income (AMI), addressing a critical need for attainable housing in the growing North Texas market. The community includes one-, two-, and three-bedroom homes containing 751, 950, and 1,154 square feet respectively, totaling 214,837 net rentable square feet on a site of roughly 9.846 acres.

The financing structure demonstrates significant public-private partnership with the Texas Department of Housing and Community Affairs issuing $26 million in tax-exempt bonds purchased by Cedar Rapids Bank & Trust, PNC Bank investing $23 million in tax-credit equity, and the City of Fort Worth providing $1,200,000 in subordinate funding. The Fort Worth Housing Finance Corporation served as general partner while Treymore Construction was the general contractor in partnership with the housing finance corporation. This collaborative approach highlights the multifaceted funding required for large-scale affordable housing developments.

Tom Huth, President and CEO of Palladium USA, emphasized the community's mission alignment, stating the development advances their goal to deliver high-quality, attainable housing for households across income spectrums. The company expressed gratitude to all funding partners including TDHCA, the Fort Worth Housing Finance Corporation, the City of Fort Worth, PNC Bank, and Cedar Rapids Bank & Trust for their essential support in bringing the project to fruition. Fort Worth City Councilmember Elizabeth Beck from District 9 noted that investment in high-quality, affordable housing remains a priority for the city and appreciated having Palladium as a partner in this mission.

The opening of Palladium Oak Grove represents part of Palladium USA's broader development pipeline, with the company having closed three multifamily developments containing 548 apartment homes year-to-date in 2025. Two additional developments are planned to close within the next 45 days, and the company currently has ten properties under construction containing over 2,100 apartment homes. This expansion reflects growing demand for professionally managed affordable housing options in Texas markets. The grand opening event featured remarks from city and county leaders, a ribbon-cutting ceremony, resident testimonials, guided tours, and refreshments, with resident prize drawings taking place during the celebration.