Palladium USA Breaks Ground on $79M Multifamily Project in Mesquite, Texas

MESQUITE, TEXAS — Locally based developer Palladium USA has broken ground on a $79 million project in the eastern Dallas suburb of Mesquite. Palladium Carver Living will be situated on a 10-acre site and will consist of 288 apartments in one-, two- and three-bedroom layouts. A portion of the units will be set aside for individuals earning 60 percent of the area median income. Amenities will include a pool, fitness center, conference center, clubroom, dog park, computer lounge and a children’s playroom. M Arrive Architecture Group designed the property, and BBL Building Co. is the general contractor. Preleasing is slated to begin by the fourth quarter of 2025. The Mesquite Housing Finance Corp. issued $37 million in tax-exempt bond financing for the project, and Regions Bank provided more than $34 million in equity, as well as a $36 million permanent loan. Additionally, the Texas Department of Housing and Community Affairs issued $38 million in 4 percent Low-Income Housing Tax Credits.