Workforce apartment community on the way in southern Dallas

A Dallas builder of workforce apartment units is ready to start another project – this time in southern Dallas.

Palladium USA has gotten approvals from Dallas’ city council to build its 270-unit Palladium Simpson Stuart rental community at 3380 Simpson Stuart Road north of Interstate 20.

The three-story apartment project will be constructed on 13 acres at Simpson Stuart and Bonnie View Lane next to a public park site.

Palladium USA plans to offer 10% of the units in the property at market rental rates and the rest will be aimed at renters who make less than average median income.

The $53 million apartment development is planned in an area that is seeing increasing employment from major distribution centers.

“We plan to close and start construction in June and deliver the clubhouse and first units 17 months later with 100% complete construction 24 months from start,” Palladium CEO Tom Huth said.

It’s one of several projects Palladium USA is working on in Dallas’ southern sector.

Palladium USA is building a larger workforce housing apartment community as part of the redevelopment of the Redbird Mall in southwest Dallas. The 300-unit Redbird rental community, which opens early next year, will also include market rate units.

The builder also has a new project in Northwest Dallas on Stemmons Freeway north of Walnut Hill Lane.

The developer has other deals on the way for markets including Little Elm, Midland, Fort Worth and Garland.

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