Grand Opening Celebration for Palladium Park Row Katy Living Underscores Strong Demand for Affordable Housing in the Katy Area

HOUSTON, May 15, 2026 (GLOBE NEWSWIRE) -- Palladium USA hosted a grand opening celebration on May 13 for Palladium Park Row Katy Living, a $33 million mixed-income multifamily community in the Katy area of western Harris County. Project partners, community leaders, and residents gathered to celebrate the new property, which offers modern apartment homes for individuals and families in a growing area of Harris County.

“Today, we are proud to celebrate with our residents at the grand opening of Palladium Park Row Katy Living,” said Kim Parker, Executive Director Development for Palladium USA. “With one of the fastest lease-ups in our company’s history, Palladium Park Row Katy Living delivers 93 high-quality, attainable homes with modern amenities for individuals and families in the Katy area. We thank Harris County, the Harris County Housing Finance Corporation, our partners, our residents, and our on-site team, and we remain committed to strong property operations and long-term stewardship.”

The three-story community includes 93 apartment homes, with 58 income-restricted affordable units for households earning between 30% and 80% of the Area Median Income (AMI) and 35 market-rate units. The property reached full occupancy in less than three months – a timeline that far outpaces the typical year-long lease-up period for most properties, according to Palladium USA leasing data. The accelerated lease-up underscores the depth of demand for high-quality, attainable housing in the Katy area.

Situated on 3.2 acres, Palladium Park Row Katy Living features one-, two-, and three-bedroom floor plans with upgraded finishes, including granite countertops, 42-inch cabinetry, hard-surface flooring, designer lighting packages, large closets, and private balconies. Community amenities include a resort-style swimming pool, fitness center, business center, dog park, children’s playroom, sports court, grilling areas, EV charging stations, and a resident clubhouse with gathering spaces and upgraded finishes.

Resident Leshaun James shared, “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.”

Palladium Park Row Katy Living is a public-private partnership with the Harris County Housing Finance Corporation (HCHFC) and is supported by funding from Harris County, the Texas Department of Housing and Community Affairs, and PNC Bank.

“Our mission is to expand and preserve affordable housing across Harris County,” said Rene Martinez, Executive Director of HCHFC. “We are helping to deliver thousands of new affordable housing units to the market, giving homes and hope to people who need it the most.”

Katy is one of the fastest-growing communities in all of Harris County — and in Texas, Martinez added. That growth adds pressure. Harris County has surpassed five million residents, and affordability is now rated as "at risk" by the Kinder Institute for Urban Research at Rice University. And Houston has the third most severe shortage of rental homes for low-income residents in the entire country according to the National Low Income Housing Coalition.

“Park Row Katy serves as a vital cornerstone of our commitment to Harris County residents, ensuring these homes stay affordable so families can focus on their futures and truly thrive within their communities,” said Thao Costis, Executive Director of Harris County Housing & Community Development.

Financing was provided by:

• Harris County provided $5 million in U.S. Treasury American Rescue Plan Act (ARPA) funding
• The Texas Department of Housing and Community Affairs provided $15 million in 9% Low-Income Housing Tax Credits
• PNC Bank provided $13.3 million in tax credit equity and more than $12 million in long-term debt
  
  

The unit mix consists of:

• 6 units for households earning 30% or less of the Area Median Income (AMI)
• 24 units for households earning 50% or less of AMI
• 22 units for households earning 60% or less of AMI
• 5 units for households earning 70% or less of AMI
• 1 unit for households earning 80% or less of AMI
• 35 market-rate units
  
  

Palladium Park Row Katy Living was developed by Palladium USA in partnership with the Harris County Housing Finance Corporation, designed by HEDK Architects, and built by The Brownstone Group.

About Harris County Finance Corporation
The Harris County Housing Finance Corporation (HCHFC) creates affordable housing opportunities for Harris County residents. The Corporation is authorized to issue debt for the purpose of supporting affordable single-family home mortgages or interests and providing financing for multi-family housing projects for low- and moderate-income owners. The Corporation is led by a nine-member Board of Directors appointed by Harris County Commissioners Court.

About Harris County Housing & Community Development
Harris County Housing & Community Development strives to strengthen communities by investing in housing, infrastructure, and services that promote resiliency. It seeks to have safe, sustainable communities where everyone thrives, and no one is left behind. Learn more at hcd.harriscountytx.gov.

About Palladium USA
Palladium USA has 10 multifamily communities currently under construction across Texas, representing approximately $618 million in development value and more than 2,200 apartment homes. These communities are located in Mesquite, McKinney, Fort Worth, San Antonio, Houston, and Dallas.

MEDIA CONTACT:

Suzy Hartgrove
For Harris County Housing Finance Corporation
suzy@myhartcomm.com
832.244.2427

Levi Leddy
Director of Marketing
Palladium USA
lleddy@palladiumusa.com
469.621.3595

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f7abd5fe-1dbb-49e8-a26e-5a70e8aaf794

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.