Palladium USA Kicks Off Construction of 288-unit Multifamily Development in San Antonio

Palladium USA has initiated construction on a significant new project in San Antonio, named Palladium San Antonio. This $75 million development marks the company’s second multi-family venture in the city and will offer a variety of residential options, featuring 288 units across four stories. The community will include one-, two-, and three-bedroom apartments, each with balconies or patios, providing residents with comfortable and modern living spaces.

Luxury Amenities and Expected Completion

The new development will be equipped with a range of amenities designed to enhance the living experience. Residents will have access to a resort-style swimming pool, a well-equipped fitness center, and comprehensive business and conference centers. The first units are scheduled for delivery by November 2025, promising a high-quality living environment in a desirable location.

Strategic Location

Palladium San Antonio is strategically located on Military Drive, just south of Highway 90. The 18-acre site offers convenient access to major thoroughfares, making it an attractive location for potential residents looking for accessibility and convenience within San Antonio.

Public-Private Partnership and Design Collaboration

This development is a result of a public-private partnership between Palladium USA and the San Antonio Housing Trust Public Facility Corporation (SAHTPFC). The project’s design was crafted by Cross Architects, with the Brownstone Group serving as the general contractor. These collaborations aim to create a community that aligns with both public needs and modern architectural standards.

Financial Backing and Support

The financial structure supporting Palladium San Antonio is robust, with multiple funding sources contributing to the project. SAHTPFC has issued $35 million in tax-exempt bonds, while PNC Bank is providing $33 million in equity along with over $30 million in long-term debt. Additionally, the Texas Department of Housing and Community Affairs (TDHCA) has contributed over $36 million in 4% Housing Tax Credits, ensuring the financial viability and success of this significant development.