Palladium McKinney

2656 Virginia Parkway McKinney, TX | 172 Units 60% AMI

In one of America’s fastest-growing cities, Palladium McKinney houses the people who keep McKinney running. The 172-home community brings high-quality, fully affordable housing to Collin County for teachers, healthcare workers, public safety personnel, and families priced out of the city they serve. Born from a partnership between Palladium USA, the City of McKinney, the McKinney Housing Finance Corporation, the McKinney Public Facility Corporation, and the McKinney Community Development Corporation, the community navigated historic interest rate volatility and rising construction costs, delivering more than 47 million dollars of dignified rental housing. Every apartment home is reserved for households at or below 60 percent of the Area Median Income, addressing a widening gap between local incomes and market rents. Financing combined tax-exempt multifamily bonds and 4 percent federal Housing Tax Credits administered by the Texas Department of Housing and Community Affairs (TDHCA) with a 1.5 million dollar local commitment from the McKinney CDC. Residents enjoy a mix of one, two, and three-bedroom homes averaging 938 square feet, paired with resort-quality amenities, professional on-site management, and Palladium Connect programming. Palladium McKinney brings Palladium USA’s mission—changing lives one apartment home at a time—to life, giving a single parent the ability to afford both rent and school supplies and allowing an essential worker to finally live in the city they serve.

Special Design Features

Interior finishes prioritize durability and modern aesthetics, with attention to natural light, storage, and family-friendly layouts. Accessible apartment homes and circulation paths are integrated throughout the community in alignment with applicable Fair Housing Act, ADA, and Texas accessibility requirements. Site planning emphasizes resident safety and ease of daily life, with controlled access, considered lighting, intuitive wayfinding, and gathering spaces designed to encourage neighbor-to-neighbor interaction.

Support Services

  • After-school enrichment and youth tutoring opportunities

  • Financial literacy and household budgeting workshops

  • Health and wellness events, including on-site screenings and fitness classes

  • Job readiness, resume support, and connections to local workforce partners

  • Senior programming and social engagement activities

  • Computer literacy and digital skills training

  • Resident social events that build neighbor-to-neighbor connections

  • Holiday and seasonal community gatherings

  • Connections to local nonprofits, food assistance, and community resources

  • On-site resident services coordinator to support program access and engagement

Credits

Developer: Palladium USA
Architect / Design Firm: Cross Architects
Lenders:Cedar Rapids Bank & Trust, PNC Bank, TDHCA, McKinney CDC
Syndicator: PNC Bank
Others: McKinney Housing Finance Corporation, City of McKinney, Bracewell, Stifel, Hilltop Securities, Chapman, Carleton, Palladium Management, Palladium Connect 

Financing

  • Tax-Exempt Multifamily Bonds – 49%
  • 4% Federal Low-Income Housing Tax Credit Equity – 40%
  • Deferred Developer Fee – 7%
  • McKinney CDC Local Funding – 3%
  • Undisbursed Bond Fund Reinvestment Earnings – < 1%

Amenities

  • Resort-style swimming pool with surrounding sundeck
    and shaded lounge seating

  • Community clubhouse with resident lounge

  • On-site leasing and management office

  • Fitness center for cardio and strength training

  • Business center and resident work-from-home stations

  • Children’s playground and outdoor play area

  • Athletic/sport court

  • Landscaped courtyards and outdoor green space

  • Secure perimeter fencing and controlled-access pedestrian entries

  • Elevator-served residential buildings for accessibility and convenience