Fort Worth, TX (July 22, 2022) – Palladium USA is pleased to announce the closing and construction start of Palladium East Berry Street – a new $55.8 Million, high-quality multi-family community in Fort Worth. This is the third multi-family development for Palladium in the City of Fort Worth. The three-story development has amenity-rich residences featuring 240 units of thoughtfully designed one, two, and three bedroom floor plans with upgraded finishes. Upscale amenities will include a resort swimming pool, state of the art fitness center, conference center, dog park, computer lounge, kid’s playroom, and clubroom containing a mini-kitchen with upgraded appliances and granite countertops.
“Construction has started, and we will be delivering the clubhouse and first units in November of 2023”, says Tom Huth, President and CEO of Palladium USA.
Palladium East Berry Street was designed by Cross Architects, and Brownstone Construction is the general contractor. The Texas Department of Housing and Community Affairs issued $26.1 Million in tax-exempt bonds purchased by Cedar Rapids Bank and Trust and PNC Bank provided $23 Million of equity for this placement. Palladium was represented by Kim Parker with Dynamic Commercial Real Estate on the purchase of the land.
“We’re excited for Palladium USA to break ground in Council District 8 and be an excellent community partner.”, said City of Fort Worth Councilmember Chris Nettles whose district the development is located. Palladium East Berry Street will bring much needed luxury housing that’s attainable for essential workers and families, especially those living in Southeast Fort Worth, given its affordable housing rates and access to the Medical District. A portion of the homes will be listed at 30% AMI, making them accessible to residents with diverse needs and income levels.”
The groundbreaking celebration planned for October 18 will be attended by community leaders, elected officials, and will feature photo renderings of the multi-family community, branded promotional items, and refreshments. “The vision for Fort Worth is large and growing! “It is vital that we are able to offer a modern, high-quality development that is attractive and adds value to the community,” says Avis Chaisson, Director of Development for Palladium USA. “We are honored to work with the City of Fort Worth and contribute to the Renaissance in Southeast Fort Worth.”
The new 17.20 acre multi-family community is located on East Berry Street, between Hwy 287 and S. Riverside Dr. Pre-leasing is expected by the Summer of 2023.
Palladium has eight multi-family developments under construction in Texas totaling approximately 1,700 units. Locations include Anna, Port Aransas, Midland, Fort Worth, Little Elm, Garland, and two in Dallas.