Palladium USA announced on May 16 the grand opening of Palladium Park Row Katy Living, a $33 million mixed-income multifamily community in western Harris County. The new development features 93 apartment homes, including both affordable and market-rate units, and reached full occupancy in less than three months.
The project addresses the growing need for attainable housing options in the Katy area by offering a mix of one-, two-, and three-bedroom apartments with modern finishes and amenities. Of the total units, 58 are reserved for households earning between 30% and 80% of the Area Median Income (AMI), while the remaining 35 are market-rate. Community features include a swimming pool, fitness center, business center, dog park, children’s playroom, sports court, grilling areas, electric vehicle charging stations, and a resident clubhouse.
Resident Leshaun James said, “Living at Palladium Park Row Katy Living has truly been one of the best living experiences I’ve ever had. From the moment I moved in, the staff made me feel welcomed, comfortable, and at home. The business center has been extremely useful with the computers and printers, and the gym has wonderful equipment that really helps residents take care of their health and wellness. What stands out to me the most is the food pantry they provide for residents. This place genuinely feels like home, and I’m truly grateful to be a resident here.”
Kim Parker, Executive Director Development for Palladium USA said: “Today we are thrilled to celebrate with our residents at the grand opening of Palladium Park Row Katy Living. With one of the fastest lease-ups in our company’s history…we thank Harris County…our partners…and remain committed to strong property operations and long-term stewardship.” The project was developed through public-private partnership with Harris County Housing Finance Corporation (HCHFC) as well as funding from Harris County’s American Rescue Plan Act allocation ($5 million), Texas Department of Housing & Community Affairs ($15 million in tax credits), PNC Bank ($13.3 million equity plus more than $12 million debt).
Rene Martinez of HCHFC said: “Our mission is to expand and preserve affordable housing across Harris County…We are helping to deliver thousands of new affordable housing units to market.” Thao Costis from Harris County Housing & Community Development added: “Park Row Katy serves as a vital cornerstone…ensuring these homes stay affordable so families can focus on their futures.” The unit mix includes options for various income levels—from those earning below 30% AMI up through market rate.
The development team included HEDK Architects (design) and The Brownstone Group (construction). According to information provided by each organization involved—Harris County Housing Finance Corporation creates financing opportunities for low- or moderate-income homeowners; Harris County Housing & Community Development invests in resilient communities; Palladium USA currently has ten multifamily projects under construction across Texas representing over $618 million.