Palladium USA Debuts $35 Million Houston Community with Affordable Housing Focus
Palladium USA has officially opened Palladium Houston Ella, a $35 million mixed-income multifamily development in northeast Houston, developed in partnership with the Harris County Housing Finance Corporation (HCHFC). The project combines public and private funding to deliver 146 units — 115 of them affordable homes — and has already made a major impact by leasing up completely two months before opening day.
The property features a mix of one-, two-, and three-bedroom layouts across seven acres, with upgraded interiors such as nine-foot ceilings, hard flooring, dual bathroom sinks, and private terraces or balconies. Community amenities include a resort-style pool, fitness center, conference center, dog park, computer lounge, kids’ playroom, and clubroom with granite countertops and premium appliances.
The project received $4.3 million in federal ARPA funds, alongside $18 million in equity from Regions Bank and $20 million in 9% housing tax credits from the Texas Department of Housing and Community Affairs (TDHCA). HEDK Architects designed the community, while Brownstone Construction and HCHFC served as general contractor.
Addressing Houston’s Housing Affordability Crisis
Local officials highlighted the significance of the project for Harris County’s housing landscape.
“It is no secret that Harris County is facing a growing housing affordability crisis,” said Rene Martinez, Executive Director of the HCHFC. “According to Rice University’s Kinder Institute My Home is Here study, the county needs more than 20,000 new affordable multi-family and single-family housing units per year to meet current demand. Palladium Houston Ella is the second of 18 affordable housing projects to open that our agency is helping to develop across the county in the near future, so hardworking families have a safe, quality place to call home.”
Tom Huth, President and CEO of Palladium USA, emphasized both the speed of the lease-up and the long-term vision for the community. “Today we are thrilled to celebrate with our residents at the grand opening of Palladium Houston Ella,” Huth said. “Fully occupied after one of the fastest lease-ups in our history, Palladium Houston Ella delivers 146 high-quality, attainable homes with luxury amenities. We thank Harris County, Harris County Housing Finance Corporation, our partners, our residents, and our on-site team and remain committed to strong property operations and long-term stewardship.”
Thao Costis, Executive Director of Harris County Housing & Community Development, added: “There is no greater honor than helping Harris County families find a place to call home. Our mission is to create housing solutions that strengthen communities and open doors to opportunity. This development reflects our commitment to building safe, affordable homes that support stability, growth, and a brighter future for our residents.”
Resident Voices: Lives Changed by Affordability
Residents themselves praised the quality, design, and affordability of the new homes:
LaKeshia, CNA
“All I can say is WOW! My spot is pure luxury, makes me feel classy coming home – the countertops, light fixtures, the bathroom, closet, and even the floors shout high-end hotel vibes!!!! There is even wi-fi at no cost. Houston Ella surpassed my wildest dreams!”
Stephanie, grandmother of four
“We live in a three-bedroom apartment that feels like home (not an apartment)… It’s quiet, peaceful, clean, and safe — all of this and affordable. THANK YOU!”
Toby, resident
“I don’t know who to thank for making this type of place affordable. At 57 years old, I would have never thought a place this nice would be in my price range. I’m now proud to invite friends and family over to watch the game and cook.”
Long-Term Affordability & Impact
This project marks HCHFC’s first general partnership and first tax-exempt development. It is secured under a 99-year ground lease, ensuring the affordability of units for generations. Officials see this as a cornerstone in Harris County’s broader affordable housing pipeline, as it’s one of 18 projects set to roll out in coming years.
The community’s success signals both the deep need for affordable housing in Houston and the effectiveness of public-private partnerships in addressing that need. With high-quality finishes, luxury-level amenities, and affordability baked into its financial structure, Palladium Houston Ella is designed to provide more than housing — it delivers stability, dignity, and opportunity.
Originally reported by Palladium USA International LLC in Multi Family Dive.
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