Palladium USA Opens $58 Million Affordable Housing Community in Fort Worth

Palladium USA celebrated the grand opening of Palladium Oak Grove, a $58 million apartment community in Fort Worth that provides 240 rental homes for households earning between 30 and 80 percent of area median income. The development represents a significant investment in addressing Fort Worth's affordable housing challenges through substantial public-private partnerships.

The 240-home community located at 932 Oak Grove Road features one-, two-, and three-bedroom homes ranging from 751 to 1,154 square feet, totaling 214,837 net rentable square feet across approximately 9.846 acres. The project's financing structure demonstrates the collaborative approach required for large-scale affordable housing development, with $26 million in tax-exempt bonds issued by the Texas Department of Housing and Community Affairs and purchased by Cedar Rapids Bank & Trust, $23 million in tax-credit equity from PNC Bank, and $1,200,000 in subordinate funding from the City of Fort Worth.

Tom Huth, President and CEO of Palladium USA, emphasized the project's significance, stating the community advances the company's mission to deliver high-quality, attainable housing for moderate-income households. The Fort Worth Housing Finance Corporation served as general partner for the project, while Treymore Construction acted as general contractor in partnership with the housing finance corporation.

Fort Worth City Councilmember Elizabeth Beck of District 9 highlighted the importance of such partnerships, noting that investment in high-quality, affordable housing remains a priority for the city. The opening event featured remarks from city and county leaders, a ribbon-cutting ceremony, resident testimonials, guided tours, and refreshments, along with prize drawings for current residents.

Palladium USA's continued expansion in the affordable housing sector is evident in their development pipeline, having closed three multifamily developments containing 548 apartment homes year-to-date in 2025, with two additional developments planned to close within the next 45 days. The company currently has ten properties under construction containing over 2,100 apartment homes, signaling sustained commitment to addressing housing accessibility challenges across Texas communities. More information about the company's approach can be found at https://palladiumusa.com.