Palladium Oak Grove, a new apartment community with 240 homes, has opened in Fort Worth, Texas. The development offers housing for households earning 30% to 80% of the area median income. It includes 101 one-bedroom, 105 two-bedroom, and 34 three-bedroom units. Unit sizes range from 751 to 1,154 square feet. The community covers about 214,837 net rentable square feet on a 9.85-acre site at 932 Oak Grove Road.
The project cost $58.4 million. Funding came from several sources. These include the Texas Department of Housing and Community Affairs’ 2022 4% Bond Housing Tax Credit program, $25.6 million in tax-exempt bonds from Cedar Rapids Bank & Trust, $23.3 million in tax credit equity from PNC Bank, and $1.2 million from the City of Fort Worth. The Fort Worth…..