KATY, Texas (Covering Katy News) – A $33 million affordable housing development broke ground recently in the Katy area on Greenhouse Road at Park Row.
Palladium Park Row Katy Living will provide 93 rental apartments, with 62% reserved for low-income families.
Harris County Precinct 4 Commissioner Lesley Briones attended the groundbreaking ceremony.
According to Harris County officials, the development comes as Harris County faces rising eviction rates with more than 75,000 cases in 2024, including 22,000 in Precinct 4.
"Behind every number is a family fighting to stay in their home," Briones said. "We are here to change that story. Together, we are turning challenges into solutions and dreams into reality."
The apartment complex will include one-, two- and three-bedroom units along with amenities like a pool, fitness center, business center, children's playroom and clubhouse with kitchen facilities.
"We are incredibly grateful to Commissioner Briones and all of our partners who helped make this project a reality," said a representative from the Harris County Housing & Community Development. "This development is a great example of how public and private entities can work together to create affordable housing and strengthen local communities."
The development is a partnership between Palladium USA and the Harris County Housing Finance Corporation, with additional funding from the Texas Department of Housing & Community Affairs, PNC Bank and Harris County's American Rescue Plan Act funds. The financing package includes $15 million in housing tax credits, $13.3 million in equity and $12 million in long-term debt from PNC Bank, plus $5 million in ARPA funds from Harris County.
The project falls under Harris County's Multi-Family Development Program, which aims to provide housing for families earning 80% or less of the area's median income. Deed restrictions will ensure that facility remains a place for low income renters for the next 20 years.
"We're excited to see the positive impact this development will have on the East Katy community," said a spokesperson for Palladium USA. "Palladium Park Row Katy Living will not only meet the immediate housing needs of the region but also set a new standard for affordable housing developments moving forward."
The first apartments are expected to open in December 2025, with project completion scheduled for December 2026. The development will include units for low- to moderate-income households and specialized accommodations for Coordinated Access System clients, plus mobility and vision/hearing units.
Have questions about renting an apartment? The Harris County Housing and Community Development Department email is askHCD@harriscountytx.gov.