Palladium USA is pleased to announce the closing and construction start of Palladium East Foster Crossing – a new $64 Million, high-quality multi-family community in Anna. This is the second multi-family development for Palladium in the city of Anna. The four-story development has amenity-rich residences featuring 239 units of thoughtfully designed one, two, and three-bedroom floor plans with upgraded finishes. Upscale amenities will include a resort swimming pool, state-of-the-art fitness center, conference center, dog park, computer lounge, kid’s playroom, and clubroom containing a mini-kitchen with upgraded appliances and granite countertops.
“Construction has started, and we will be delivering the clubhouse and first units in November of 2023, says Tom Huth, President and CEO of Palladium USA.”
Palladium East Foster Crossing was designed by HEDK Architects, BBL Construction is the general contractor who is teaming up with the Anna Public Facility Corporation on construction. The Anna Public Facilities Corporation issued $33 Million in tax-exempt bonds purchased by Cedar Rapids Bank and Trust, and PNC Bank provided $27 Million of equity for this placement.
“We are excited to partner with Palladium on their second project in Anna”, said City of Anna Mayor Nate Pike. “Our community understands the need for quality, diverse housing options and this project helps further that vision.”
The groundbreaking celebration is planned for the near future will be attended by community leaders, elected officials, and will feature photo renderings of the multi-family community, branded promotional items, and refreshments. “The vision for Anna is large and growing! It is vital that we are able to offer a modern, high-quality development that is attractive and adds value to the community,” says Avis Chaisson, Director of Development for Palladium USA. “We are honored to work with the city of Anna and help with their vision for the area.”
The new 8.26 acre multi-family community is located on East Foster Crossing, just east of Hwy 5. Pre-leasing is expected by the Summer of 2023.
Palladium has nine multi-family developments under construction in Texas totaling approximately 1,700 units. Locations include Anna, Port Aransas, Midland, Fort Worth and Little Elm, two in Garland, and two in Dallas.
Buyers Representative: Kim Parker, Dynamic CRE, LLC