Palladium USA has commenced construction on Palladium Buckner Station, a $107 million transit-oriented, mixed-income multifamily community adjacent to the Buckner DART Station in Southeast Dallas. The development will feature 304 residences with 244 units available at below market rate for households earning 60% of the area median income and 60 units at market rate. This project represents a significant investment in affordable housing with direct access to public transportation infrastructure.
The property will offer thoughtfully designed one-, two-, and three-bedroom floor plans, including 30 three-bedroom two-story townhome units. Interior finishes include granite countertops, nine-foot ceilings, hardwood-style flooring, dual sinks in primary baths, and covered balconies. Community amenities will include a resort swimming pool, state-of-the-art fitness center, conference center, business center, children's playroom, 1,600 square foot community room, playground, basketball court, gazebos with grilling stations, and a clubroom featuring a mini-kitchen with upgraded appliances and quartz countertops.
Tom Huth, President and CEO of Palladium USA, stated that construction has started on this transformational community, which reflects the company's ongoing commitment to providing high-quality, mixed-income housing in Dallas. The financing structure for this development included $34 million in tax credit equity, $26 million in bridge loan proceeds, and a $47 million FHA 221(d)(4) loan all provided by Regions Bank, along with $14.5 million in City of Dallas funding, $49.9 million in tax-exempt bonds issued through the Dallas Housing Finance Corporation, and $39 million in 4% housing tax credits approved by The Texas Department of Housing and Community Affairs.
Dallas City Council Member Jaime Resendez emphasized that Buckner Station represents exactly the kind of mixed-income, transit-oriented development needed in the district, bringing hundreds of quality apartment homes near DART access, schools, and services while demonstrating how public-private partnerships can deliver real benefits to neighborhoods. Marcy Helfand, President of the DHFC, noted that the project exemplifies collaboration between Palladium USA, the Dallas Housing Finance Corporation, DART, the City of Dallas, and Regions Bank, fulfilling the mission to provide quality, affordable housing to Dallas residents.
Caitlin Holland, Vice President of Real Estate & Economic Development at DART, expressed excitement about converting underutilized parking at DART's Buckner Station into urgently needed mixed-income housing. This represents a significant step toward building more connected, sustainable communities within DART's service area where people can live, work, and thrive with access to efficient public transportation. Kim Parker, Executive Director of Development and Site Selection for Palladium USA, emphasized that the project goes beyond building new housing to provide Dallas families with stable homes directly connected to public transit, making it easier for hardworking people to access jobs, schools, and essential services. The 6.72-acre community is scheduled to begin preleasing in Fall 2026, with the clubhouse and first units delivered in early 2027.
