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Palladium Dallas Stemmons Apartments Closed and Under Construction

May 15, 2021

Palladium closed its third affordable Multifamily Development for 2021 with the closing today of Palladium Dallas Stemmons Apartments located at 2440 Southwell Road in Dallas, Texas. This is a three-story, 87-unit mixed-income multifamily development with affordable housing set asides for those earning between 30% – 60% of area median income with a market-rate component. The development will contain Palladium’s usual package of knocked out amenities including a resort-style pool, dog park, trails, conference room, computer lab, kid’s playroom, state of the art fitness center – just to name a few. “Construction has started, and we will be delivering the clubhouse and first units in June 2022.”

“The City of Dallas was instrumental in getting us closed and in particular Dallas District 6 Councilman Omar Narvaez for getting us across the goal line.” HEDK is the architect. Treymore (Carleton) Construction is the general contractor. Regions Bank provided both the equity and debt for this placement.

Additionally, Palladium closed its Midland West Francis 4% housing tax credit development in December 2020 and in 2021 Palladium closed its Garland Senior Living 2020 9% housing tax credit development in January, its Palladium Fain Street (Fort Worth) 2020 9% development in February, its Palladium Little Elm 324 unit market rate wrap in February, and now its Palladium Dallas Stemmons Apartments 2020 9% housing tax credit development in April. Palladium has eight multifamily developments under construction in Texas. One in each of Venus, Port Aransas, Midland, Garland, Fort Worth, Little Elm and two in Dallas.

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