The construction of the US$ 55.8M Palladium East Berry Street residential community in Texas has begun. In November 2023, the first units at the Palladium USA developed project are expected to be finished. The build’s general contractor is Brownstone Construction.
The Palladium East Berry Street residential community is situated on 17.2 acres of property between S. Riverside Drive and Hwy 287 on East Berry Street. Palladium USA was represented by Kim Parker of Dynamic Commercial Real Estate when the site was first purchased. The Texas Department of Housing and Community Affairs provided $26.1 million in tax-exempt bonds. Moreover, $23 million in equity to Palladium USA to help finance the construction.
Palladium East Berry Street residential community overview
Designed by Cross Architects, the Palladium East Berry Street residential community will include 240 studio, one-, two-, and three-bedroom apartments. A fitness center, conference center, pool, dog park, club room, and other facilities will be available to residents.
Given its cheap housing costs and proximity to the Medical District, the development will deliver much-needed luxury housing that is affordable for workers and families, especially those residing in Southeast Fort Worth. According to Chris Nettles, a council member for Fort Worth, “a percentage of the homes will be sold at 30 percent of the median income. This Nettles said will make them accessible to citizens with various needs and income levels.”
Palladium USA footprint
Palladium is currently constructing eight apartment buildings in Dallas, Anna, Port Aransas, Midland, Fort Worth, Little Elm, and Garland, totaling roughly 1,700 apartments. Additionally, the Historic Fairmount District is the most prominent feature in the Fort Worth Medical District.
The medical area is south of West Magnolia Avenue, east of Forest Park Boulevard, and north of West Rosedale Street, and is situated northwest of the project on the west side of Interstate 35W. Within a few miles of the development are the TCU campus and the Fort Worth Zoo.