Palladium USA has closed on Palladium Cockrell Hill Senior Living, a $34 million independent senior living community in Dallas, Texas, marking a significant step in expanding mixed-income housing options for seniors. The community, located at 4220 Blue Ridge Blvd., will offer 120 residences for individuals aged 62 and older, with 88 units restricted to households earning between 30% and 80% of the area median income (AMI) and 32 units at market rates.
The development is part of Palladium USA's strategic portfolio expansion and addresses a growing need for affordable senior housing. According to the company, the four-story, elevator-served building will feature interior corridors and amenities such as a resident clubhouse, fitness center, business center, movie theater, multipurpose room, resort swimming pool with ramp, dog park, and pickleball court. Interior features include energy-efficient appliances, modern cabinetry, walk-in closets, granite kitchen islands, dual bathroom sinks, and accessible layouts.
"We closed on December 17th, and construction began. Palladium Cockrell Hill Senior Living is part of our mission to bring senior residents attainable housing options that offer both comfort and community," said Tom Huth, President and CEO of Palladium USA. "This community represents a meaningful investment in Dallas, and we're grateful to our partners for helping bring this to life. Palladium Cockrell Hill Senior Living is Palladium's sixth multifamily development in Dallas, Texas."
Financing for the project included an $11.5 million HUD 231 loan, $16.8 million in tax credit equity from Regions Bank, and a $5 million HOME loan from the City of Dallas. The community received 2024 9% Housing Tax Credits from the Texas Department of Housing and Community Affairs (TDHCA). Designed by Cross Architects, with Pavilion Construction as general contractor, the project also involves Operation Community Care Living (OCC Living) to provide resident enrichment programming.
The 5.15-acre site offers convenient access to major roadways, healthcare providers, retail centers, and community services in the Dallas-Fort Worth Metroplex. Preleasing is scheduled for fall 2026, with first units expected in early 2027. Palladium USA has closed four multifamily developments in 2025, totaling 668 apartment homes, and has ten properties under construction with 2,000 apartment homes. For more information, visit Palladium USA's website.
