FORT WORTH, TEXAS — Palladium USA and the Fort Worth Housing Finance Corp. (HFC) will break ground on April 6 on Palladium Oak Grove in Fort Worth. The total cost of the project is approximately $60 million. Funding sources include $25.6 million in tax-exempt bonds purchased by Cedar Rapids Bank and Trust and issued by the Texas Department of Housing and Community Affairs. PNC Bank provided more than $23 million of equity. The property was designed by Cross Architects. Treymore Construction is the general contractor teaming up with the Fort Worth HFC on construction. Dynamic Commercial Real Estate represented Palladium USA in the purchase of the land. Rent restrictions were not disclosed.
Palladium Oak Grove will rise four stories and offer 240 units in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, conference center, dog park, computer lounge, playroom and clubroom with a kitchen. The first units are set to deliver in May 2024, alongside the clubroom.